Qualcomm Incorporated today announced that Dr. Paul Jacobs will not be re-nominated to the Qualcomm Board of Directors at Qualcomm’s Annual Meeting of Stockholders on March 23, 2018. The Board reached that decision following his notification to the Board that he has decided to explore the possibility of making a proposal to acquire Qualcomm. Following the withdrawal of Broadcom’s takeover proposal, Qualcomm is focused on executing its business plan and maximizing value for shareholders as an independent company. Dr. Jacobs has been a valued employee and director of Qualcomm since 1990, rising to the level of Chief Executive Officer and Chairman of the Board, and he has been one of the great innovators in our industry.
Stormy Daniels may face more than $20 million in damages for violating a "hush agreement" that requires her to remain silent about an affair she alleges she had with President Donald Trump in 2006 and 2007. The potential damages against Daniels, an actress in adult films whose real name is Stephanie Cliffords, were disclosed Friday in a filing in federal court in Los Angeles by Essential Consultants LLC, an entity that was set up by Trump’s personal lawyer, Michael Cohen, in 2016 to pay her $130,000 in exchange for her silence. The company moved the lawsuit, filed by Daniels last week in California state court against Trump, to federal court, saying that neither Daniels, Trump nor the LLC are
Caterpillar Inc will close two facilities in Texas and Panama and is also considering shutting its engine manufacturing plant in Illinois as part of a strategy to boost profitability and better handle business cycles, but the move could cut 880 jobs. The plant closures, which were announced internally over the past two months, were confirmed to Reuters by a company spokeswoman on Friday. Chastised by the sales slump, the Deerfield, Illinois-based company has embarked upon a restructuring strategy, looking to squeeze more production out of its existing factories, focusing on lean manufacturing, margin expansion and asset efficiency.
Companies from billionaire Kelcy Warren’s Energy Transfer Partners LP to pipeline giant Enterprise Products Partners LP issued a slew of statements following Thursday’s declines on Wall Street as they sought to downplay the significance of the Federal Energy Regulatory Commission’s ruling that master-limited partnerships can no longer get credit for income taxes they don’t actually pay. The affected assets are large, interstate pipelines that, generally speaking, were built in an era of little competition in shipping America’s fossil fuels -- back when government oversight of shipping rates was essential. “The initial sell off was an overreaction that assumed all pipelines in the U.S. are FERC-regulated and that their cash flows were immediately going to fall,” said Rob Thummel, managing partner at Tortoise Capital Advisors.
Semiconductor giant Broadcom Ltd. (AVGO) is still on the M&A hunt after withdrawing its hostile takeover bid for Qualcomm Inc. (QCOM) in the face of opposition on national security grounds from President Trump. "We don't see this week's events putting
CHICAGO/NEW YORK (Reuters) - When Toys 'R' Us secured a $3.1 billion bankruptcy loan in September, toy makers were reassured they would be paid for goods delivered to the company as it tried to emerge from Chapter 11. Now those payments are at risk in a dramatic turn of events as the iconic toy retailer speeds toward U.S. liquidation. More than a dozen executives, specialists and lawyers interviewed by Reuters said they expected many small vendors to go bankrupt due to the disappearance of Toys 'R' Us and Babies 'R' Us in the United States.
There are still relatively few women who are CEOs of companies in almost all industries — with one major exception. Women CEOs are leading the way in the nonprofit world and, in some areas, they outnumber male CEOs. • Women in 2015 made up 57% of the CEOs of nonprofits with an annual budget of less than $250,000, up from 53% in 2005.
The U.S. Treasury has been stealthily weakening the dollar. It isn’t clear if it is doing so consciously, but since a weaker dollar suits Treasury leadership, there probably isn’t too much concern. The key is that the Treasury is flooding the market with short-term debt that neither domestic nor foreign investors are very interested in buying.
Johnson & Johnson JNJ announced that the FDA has granted breakthrough therapy designation to its late-stage pipeline candidate, erdafitinib for the treatment of urothelial cancer, a type of bladder cancer. The designation from the FDA is intended to expedite the development and review of drugs with early evidence of substantial potential clinical benefit to patients, or benefit patients without current treatment options. The designation for erdafitinib was primarily based on efficacy findings from a phase II study, evaluating it in advanced urothelial cancer indication and showed an overall response rate of 42%.
CNBC’s Sharon Epperson speaks with Diane Oakley, National Institute on Retirement Security executive director, about millennials facing problems with saving for retirement.
Jim Chanos, the short seller famous for betting against Enron, has said he thinks Tesla Inc.’s stock is “worthless.” Chanos got some new evidence this week that may support his short sales against Elon Musk’s car company. A string of executives have headed for the exits, including a surprising number from the company’s finance team, as Tesla is dogged by questions about whether it can meet its production targets. The chief financial officer left abruptly last year in a curious turn of events, where he was replaced by his predecessor: Deepak Ahuja served as Tesla’s CFO from 2008 to 2015 and then took over the job again in March 2017, according to his LinkedIn.
Facebook suspended Cambridge Analytica, a data-analysis firm that worked for President Donald Trump's 2016 campaign, over allegations that it held onto improperly obtained user data after telling Facebook it had deleted the information. The social network issued a blog post explaining its decision, although the tale is convoluted. Years ago, Facebook said, Cambridge Analytica received user data from a Facebook app that purported to be a psychological research tool, though the firm wasn't authorized to have that information.
Walt Disney Co Chairman and Chief Executive Robert Iger stands to earn up to $423 million over four years, according to a new analysis of a compensation package rejected by shareholders, and some investors want to raise the bar on his performance targets. Disney suffered a rare rebuke from its shareholders last week when a 52 percent majority opposed the compensation of Iger and other executives in a non-binding vote that could encourage the board to tweak the pay package. ISS Analytics, the data arm of proxy advisory firm Institutional Shareholder Services, estimated that if Iger hits maximum goals the package would make him the 12th-highest paid U.S. CEO on an annual basis in the past 10 years.
Goldman tells its clients to buy high growth companies at reasonable valuations.
Temperatures near negative 24 degrees celsius in Yakutia, the coldest region in Russia, are not putting off would-be treasure hunters who literally saw gold fall from the sky on Thursday. A nine-ton treasure of gold and silver alloy called doré bars fell from the back of an AN-12 cargo plane flying from Yakutsk to Krasnoyarsk in an area largely at and around the airport, the Siberian Times reported.
Formerly red-hot bitcoin has seen a large drop from its record highs reached in December. The digital coin looks poised to trigger a bearish technical indicator known as a "death cross," which portends more selling to come. Goldman Sachs said earlier this week that bitcoin is at risk of taking out its February lows.
(1:20) - United Airlines Pet Failures (9:00) - Apple Acquires Digital Magazine Texture: Apple Services Growth(13:20) - Ford Vehicle Recall and Analyst Upgrade(16:00) - Weekly White House Drama(21:00) - Episode Roundup: Podcast@Zacks.comOn today’s episode
A senior executive said Microsoft Corp thoroughly investigates issues raised by women in the workplace and fired about 20 employees last year over complaints of sexual harassment as the company seeks to counter claims that it treats female workers unfairly. In an email to employees publicly released late on Thursday, Microsoft Chief People Officer Kathleen Hogan said Microsoft had 83 harassment complaints in 2017 out of a U.S.-based workforce of over 65,000 employees. Microsoft denies it has ever had such a policy.
Technology company Zuora released its IPO prospectus on Friday, revealing plans to trade on the public market. The cloud-computing company, which helps businesses manage subscription services, was backed by major investors like Blackrock and Benchmark. Its founder and CEO Tien Tzuo was an early Salesforce employee, and has been an outspoken advocate of subscriptions in the journalism business. It plans to list on the New York Stock Exchange under the symbol "ZUO." Here are stats for its most recent fiscal year, which ended January 31: - Revenue: $167.9 million, up about 49 percent from a year ago - Net loss: $47.2 million - Recurring profit margin: 28 percent - 950 customers in over 30 different
Andrew Liveris, the outgoing chairman of DowDuPont Inc., nearly tripled his compensation last year to $65.7 million, bolstered by payments related to Dow Chemical’s merger with DuPont Co. Liveris’ compensation included a $1.9 million salary, $4.17 million annual bonus and equity grants of $16 million, some of which are tied to total-return performance, according to a regulatory filing Friday. He also got $43 million in deferred compensation and benefit distributions related to the merger. Liveris’s 2016 compensation was $23 million. Liveris, the longtime Dow CEO, initiated merger talks days after Ed Breen was named DuPont chief executive officer in October 2015. The deal temporarily created the
For President Trump, quashing the deal would be a victory against nemesis CNN, which is part of Time Warner. Opening statements begin March 21 in the U.S. District Court for the District of Columbia. Why is the government suing AT&T?
The abrupt exit of two Nike Inc. executives this week has sparked concerns about conduct toward women at the world’s largest athletic brand, including what the Wall Street Journal described as the bullying of women and workers from outside the U.S. Nike said on Friday that Jayme Martin, vice president and general manager of global categories, was no longer with the company. Nike cast a cloud over the departures by saying that it was reviewing misconduct at the company, though it declined to directly link the behavior to either executive.
Ten years ago today, JPMorgan Chase & Co. announced it would buy collapsing investment bank Bear Stearns Cos. for pennies on the dollar after a weekend of emergency talks brokered by the government to avert a financial crisis. The collapse of a bigger investment bank -- Lehman Brothers Holdings Inc. -- six months later without any emergency takeover or government bailout tipped global markets into a tailspin. Goldman Sachs Group Inc. was once the global market leader in fixed-income trading, generating about twice as much revenue from that business as JPMorgan.
Zscaler Inc. (ZS) sells cloud security software that lets IT departments monitor all the traffic on your corporate network while protecting it and (hopefully) the workers. Zscaler’s pitch focuses on it being a cloud native, while established rivals have had to adapt to “networks” becoming distributed global data centers supporting employees who log on from a variety of devices to a multitude of apps. Zscaler is priced its IPO late Thursday at $16, above an already elevated range, according to IPO Boutique.
By Nick Brown NEW YORK (Reuters) - The S&P 500 edged slightly lower on Thursday, in its first four-day losing streak of 2018, while global political tensions kept demand high for safe-haven government bonds on both sides of the Atlantic. It was a choppy