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.
Long-term U.S. mortgage rates fell this week for the first time this year as the spring home buying season begins. Mortgage buyer Freddie Mac said Thursday the average rate on 30-year fixed-rate mortgages slipped to 4.44 percent from 4.46 percent last week. The benchmark rate averaged 4.30 percent a year ago.
Reuters reports that Wells Fargo (WFC) is facing fresh sanctions after it tricked customers, this time in the auto sector. Regulators found that while Wells already requires its customers to have auto insurance, it was using a loophole to force more than half a million consumers who had a lapse in insurance, to double up and then made profits on those payments. Disney (DIS) is prepping for CEO Bob Iger’s retirement.
Boeing lands in correction territory sinking more than 2 percent 13 Hours Ago | 02:19 Boeing is on track for its worst week in two years, and with so much political uncertainty surrounding trade policy, more pain could be ahead, according to one long-time market watcher. "The question is really not economic. It's political at this point," Boris Schlossberg, managing director of FX strategy at BK Asset Management, said on CNBC's "Trading Nation" on Wednesday. Boeing shares have been weighed down by a potential trade war between President Donald Trump and China. A proposed trade package imposing tariffs on $60 billion worth of China-made goods could spark retaliation from the world's second-largest
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.
Stocks mostly finished lower on Thursday — reversing early session gains led by large-cap industrials — after late session news that Special Council Robert Mueller has subpoenaed the Trump Organization demanding documents about Russia.
Former gambling mogul Steve Wynn and his ex-wife Elaine settled a six-year-long dispute over who controls their shares in the casino company they once ran, freeing both to sell the stock. Wynn Resorts Ltd. said in a filing Thursday that the pair, who together control 21 percent of the company, have told a Las Vegas court they no longer consider a 2010 stockholder agreement valid. The filing also said Steve Wynn may seek to sell all or a portion of his shares.
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
CNBC’s Sharon Epperson speaks with Diane Oakley, National Institute on Retirement Security executive director, about millennials facing problems with saving for retirement.
On Wednesday evening, the Senate passed a bill that would roll back some banking regulations. Indirectly, the bill addresses Equifax’s historic data breach in which Social Security numbers and other personal data of 150 million people were exposed — a number that comprises well over half the U.S.’s adult population. Mark Warner (D-Virg.) and Elizabeth Warren (D-Mass.) had put forth a bill in January that would hold credit reporting agencies responsible for breaches, it did not progress and Congress had failed to issue a legislative response to the Equifax breach.
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
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.
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.
Goldman tells its clients to buy high growth companies at reasonable valuations.
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?
It has been about a month since the last earnings report for Williams Companies, Inc. WMB. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Williams Companies reported adjusted earnings from continuing operations of 20 cents per share in line with the Zacks Consensus Estimate.
(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
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.
The demise of Toys R Us will have a ripple effect on everything from toy makers to consumers to landlords. The closing of the company's U.S. stores over the coming months will finalize the downfall of the chain that succumbed to heavy debt and relentless trends that undercut its business, from online shopping to mobile games. CEO David Brandon told employees Wednesday the company's plan is to liquidate all of its U.S. stores, according to an audio recording of the meeting obtained by The Associated Press.
Unilever, the Anglo-Dutch consumer goods multinational whose vast stable of brands includes Dove, Knorr and Ben & Jerry's, has opted to have its sole headquarters in the Netherlands rather than Britain, ending a dual structure that goes back nearly 90 years. While Unilever made no mention of Britain's impending departure from the European Union, the decision should in practice help it manage the uncertainties of Brexit and is highly symbolic at a time of doubts over London as a global capital. Many firms with operations across the EU are worried about the potential disruption after Britain leaves the bloc in a little more than a year's time.
As the 950-ton concrete bridge section was swung into place over a highway last weekend, Florida International University officials were beaming with pride. The pedestrian bridge on the edge of the Miami-area campus was a signature achievement of the school's Accelerated Bridge Construction University Transportation Center, a research group set up with federal funding a few years ago to show how spans could be built faster and cheaper in the U.S. "FIU is about building bridges and student safety.
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.
The harsh, brutal reality about Sears: Read this bit of PR from Sears (SHLD) CEO/money manager/failed strategy man Eddie Lampert to employees and you would think the former retail icon is crushing it. "We are encouraged by the progress we are seeing and remain committed to our strategy to restore Sears Holdings to profitability so we can continue to serve our members for years to come," Lampert said in a blog post after releasing "earnings" on Wednesday. Review Sears' financial filing, and a person with an untrained eye would think, "Heck yeah, Sears is going to pull off the miraculous recovery Toys 'R' Us and Circuit City couldn't." But as TheStreet dove into Sears' results (on our 12th cup
A tax ruling triggered a selloff in MLP exchange-traded funds and MLPs on Thursday, with the headwinds spilling over to the broader energy sector as midstream companies bore the brunt of the losses. The Federal Energy Regulatory Commission said Thursday it will no longer allow master limited partnership natural gas and oil pipelines to recover an income tax allowance in cost-of-service rates. Among MLPs, steepest losses included those of Plains All American Pipeline LP (PAA) and Energy Transfer Partners LP.
March 15, 2018 – Today, Zacks Equity Research discusses the Industry: Chemicals, Part 2, including DowDuPont Inc. DWDP, Albemarle Corporation ALB and Monsanto Company MON. The chemical industry has gotten its mojo back on strength across major end-markets and a resurgent world economy. Despite a few industry-related and macroeconomic headwinds, there are a number of reasons to be optimistic about the broader chemical industry for both the short and long haul.