|Day's Range||1.2800 - 1.2800|
U.S. stocks fell on Friday amid renewed concerns over the spreading of a coronavirus outbreak from China, offsetting strong gains for Intel. Airlines and travel stocks fell again, with United Airlines Holdings Inc and American Airlines Group Inc shedding about 4%. "It has taken the wind out of the market, because for now other than (Intel and American Express) we have stocks coming under some selling pressure," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
Wall Street came under pressure on Friday as investors sold energy, financial and healthcare stocks on mounting fears over the coronavirus outbreak in China, while strong gains for chipmaker Intel limited losses on the main indexes. The U.S. Centers for Disease Control and Prevention said a traveler from Wuhan, China had been diagnosed with the coronavirus in Chicago, Illinois, making it the second confirmed case of the virus in the country. The virus outbreak in China has killed 26 people and infected more than 800 in the past week, raising concerns about its fallout on the global economy.
Broadcom says it has $15 billion in deals to supply Apple with chips, while buyers might be lining up for its radio frequency chip business.
The major stock indexes were broadly higher early Friday amid strong earnings results from Dow Jones stocks American Express and Intel.
Broadcom said it would supply high-performance wireless components to Apple under two multiyear “statement of work agreements.” The agreements could generate about $15 billion in sales.
Stocks opened higher Friday as Intel and AmEx lifted the Dow Jones today, while Broadcom and Atlassian scored early breakouts.
Broadcom unveils a $15 billion, three-plus-year deal with Apple, a not-so-subtle signal to buyers of its RF chip business that they're getting a sweet deal.
The tech-heavy Nasdaq was set to hit a new record high on Friday after a strong forecast from Intel and encouraging business activity data out of Europe lifted the mood, while investors tracked latest developments related to the coronavirus outbreak. Chipmaker Intel Corp jumped 4.8% in premarket trading, and was on course to open at a 19-year high, after it forecast better-than-expected 2020 earnings, joining many of its peers to signal a recovery in chip demand. Advanced Micro Devices Inc rose 1.0%, while Broadcom Inc gained 2.9% after entering an agreement with Apple Inc for the supply of wireless components used in its products.
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Benzinga Pro's Stocks To Watch For Friday Skyworks (SWKS) - The company reported a Q1 earnings beat and gave stronger-than-expected guidance Thursday afternoon. An item which weighed on the stock more ...
Futures: Intel and Atlassian soared late on earnings, lifting AMD, Nvidia and ServiceNow. Broadcom rose on an Apple supply deal.
U.S. stock index futures edged higher on Friday, as a strong forecast from chipmaker Intel and encouraging business activity data out of Europe lifted the mood as investors tracked latest developments related to the coronavirus outbreak. Intel Corp jumped 5.2% in premarket trading, on course to open at a 19-year high, after it forecast better-than-expected 2020 earnings, joining many of its peers to signal a recovery in chip demand. Advanced Micro Devices rose 1.5%, while Broadcom Inc gained 3.5% after entering an agreement with Apple Inc for the supply of wireless components used in its products.
Semiconductor makers Qorvo and Skyworks Solutions are weighing bids for Broadcom's RF chip business amid its disclosure of a $15 billion Apple components deal.
Stock futures rise but gains are capped by lingering concerns over the spread of the coronavirus in China; Intel smashes earnings estimates and sees robust sales in 2020; Broadcom sees $15 billion in revenue from deals with Apple; Jamie Dimon's pay in 2019 rises to $31.5 million.
Broadcom told the SEC Thursday that its reached two component deals with Apple that could net it $15 billion in revenue of the next three-and-a-half years.
(Bloomberg) -- Semiconductor makers Qorvo Inc. and Skyworks Solutions Inc. are weighing bids for Broadcom Inc.’s wireless-chip business, which could fetch about $10 billion in a sale, according to people familiar with the matter.Other potential buyers could be interested, said the people, who asked to not be identified because the matter isn’t public. The unit makes radio-frequency, or RF, chips.A final decision hasn’t been made and Qorvo and Skyworks may opt not to proceed with offers, they said.A representative for Broadcom declined to comment. Representatives for Qorvo and Skyworks didn’t respond to requests for comment.Broadcom on Thursday disclosed new agreements to provide components for Apple Inc. devices for several years. The disclosure lets potential acquirers of the radio frequency unit know that they’re buying into a substantial business relationship with Cupertino, California-based Apple.The potential sale comes as Broadcom Chief Executive Officer Hock Tan -- fresh off a $10.7 billion takeover of Symantec Corp.’s security software unit -- seeks to focus on businesses with strong share in profitable markets that don’t require excessive investment. He’s jettisoning components that don’t fit that plan. Broadcom agreed to sell a cybersecurity services business this month to Accenture Plc.The RF unit’s chips are used to filter and amplify radio frequency signals. Its filters also let wireless communications systems support a large number of subscribers at the same time by ensuring that voice and data streams don’t interfere with each other.The Wall Street Journal reported in December that Broadcom was seeking a buyer for the division.To contact the reporters on this story: Ed Hammond in New York at email@example.com;Liana Baker in New York at firstname.lastname@example.org;Ian King in San Francisco at email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, ;Alistair Barr at email@example.com, Matthew Monks, Michael HythaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Broadcom Inc. disclosed Thursday afternoon new deals with Apple Inc. worth $15 billion, and shares moved higher in extended trading. In a filing with the Securities and Exchange Commission, the chip maker said that it had signed two multiyear statement of work agreements with the iPhone manufacturer for components that will be included in Apple products beginning this month. The two deals are in addition to an agreement to supply RF chips that Broadcom disclosed last summer. Broadcom said that the two new deals as well as the rest of the previously disclosed contract would lead to, in aggregate, $15 billion in revenue for the company. Broadcom shares gained about 2% in the after-hours trading session Thursday, while Apple supplier Skyworks Solutions Inc.'s shares declined despite a strong earnings report released Thursday afternoon.
(Bloomberg) -- Broadcom Inc. disclosed new agreements to provide components for Apple Inc. devices released through the middle of 2023.The San Jose, California-based chipmaker said it entered into two multiyear pacts “for the supply of a range of specified high-performance wireless components and modules to Apple for use in its products.” That’s in addition to another similar agreement that Broadcom reached with Apple in 2019. The three deals could generate about $15 billion in future revenue, Broadcom added.Broadcom shares rose more than 2% in late trading, while rival Skyworks Solutions Inc. dropped as much as 7.7%. Broadcom is a major Apple supplier, providing radio-frequency chips that let iPhones, iPads and Apple Watches connect to cellular data networks. Broadcom has also supplied other components to Apple, including chips for connecting devices to Wi-Fi networks.Broadcom put its radio frequency chip unit up for sale last year. Thursday’s disclosure lets potential acquirers know that they’re buying into a substantial business relationship with Cupertino, California-based Apple.Apple typically reaches long-term deals with major suppliers, but the company is also developing its own components.To contact the reporter on this story: Mark Gurman in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Tom Giles at email@example.com, Alistair Barr, Andrew PollackFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Skyworks Solutions (NASDAQ: SWKS ) shares are trading lower in Thursday's after-hours session. Skyworks Solutions reported quarterly earnings of $1.68 per share, which beat the analyst consensus estimate ...