Yahoo Finance Morning Brief: Trump blocks Broadcom's takeover of Qualcomm
Tuesday, March 13, 2018
What to watch today
Tuesday will bring investors some of the most important economic news of the week.
At 8:30 a.m. ET, the latest data on consumer prices will be released, with Wall Street economists forecasting the consumer price index rose 0.2% over the prior month in February. In January, consumer prices rose 0.5% over the prior month.
Elsewhere in the economic data, Tuesday morning will also feature the release of the latest small business optimism index from the National Federation of Independent Business, which is expected to hit a new high after having been near record levels since President Donald Trump’s election in November 2016.
On the earnings calendar, headline results are expected to include Dick’s Sporting Goods (DKS), DSW (DSW), and HD Supply Holdings (HDS).
Top news
Trump halts Broadcom takeover of Qualcomm: President Donald Trump on Monday blocked microchip maker Broadcom Ltd.’s (AVGO) proposed takeover of Qualcomm Inc. (QCOM) on national security grounds, ending what would have been the technology industry’s biggest deal ever amid concerns that it would give China the upper hand in mobile communications. The presidential order reflected a calculation that the United States’ lead in creating technology and setting standards for the next generation of mobile cellphone communications would be lost to China if Singapore-based Broadcom took over San Diego-based Qualcomm, according to a White House official. [Reuters]
Larry Kudlow emerges as Trump pick to replace Cohn: CNBC personality Larry Kudlow has emerged as President Donald Trump’s favorite to replace Gary Cohn, the outgoing director of the White House National Economic Council, two people familiar with the matter said. Trump may name Kudlow as his top economic adviser within a day or so, one of the people said. [Bloomberg]
General Electric axes top-executive bonuses for first time: General Electric Co. (GE) last year eliminated bonuses for its senior managers for the first time in its 126-year history, saving millions of dollars after losing money in 2017, the industrial conglomerate said on Monday. All but one of its top executives did not receive a bonus, the company said. The changes led to steep declines in compensation and reflected the company’s poor results in 2017, according to the company’s annual proxy. [Reuters]
Microsoft women filed 238 discrimination and harassment complaints: Women at Microsoft Corp. (MSFT) working in U.S.-based technical jobs filed 238 internal complaints about gender discrimination or sexual harassment between 2010 and 2016, according to court filings made public on Monday. The figure was cited by plaintiffs suing Microsoft for systematically denying pay raises or promotions to women at the world’s largest software company. Microsoft denies it had any such policy. [Bloomberg]
For more of the latest news, go to Yahoo Finance
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