According to a report in the WSJ, Qualcomm, now embroiled in a number of lawsuits with Apple, is apparently about to receive an unsolicited takeover bid from semiconductor designer Broadcom. No final decisions have been made and there's no guarantee a deal will go ahead. Qualcomm's stock is down 16 percent this year, excluding the jump prompted by the Broadcom news today, and it suffered a staggering 90 percent drop in profit in its fourth quarter earnings released earlier this week. Broadcom's stock also rose on the report, adding $14.13 or 5.45% to $273.63. Qualcomm has a market cap of around $92 billion as of writing while Broadcom is worth almost $113 billion.
China vetoes United Nations move on Azhar
The Chinese Foreign Ministry had indicated on Monday that it will block the United States resolution. Last year, China had done the same to stall India's application before the same committee.
A Qualcomm spokeswoman declined to comment. This week, Broadcom said it would move its headquarters from Singapore back to the USA, where it lists an HQ in San Jose, California.
Reports in The Wall Street Journal and elsewhere say Apple is contemplating kicking Qualcomm out of its devices entirely, possibly replacing it with Intel chips.
Hindu terror exists; right-wing groups now prefer violence over debate: Kamal Haasan
Chidambaram and Congress leader Sushil Kumar Shinde said it on the floor of Parliament that there is Hindu terror in this country. The NIA should visit him and ask him if he has any proof,"' Swamy told a leading news channel.
Broadcom was created previous year when Tan's Avago Technologies Ltd. bought Irvine-based chipmaker Broadcom Corp. for $37 billion and then adopted the Broadcom name for the combined company. Apple, in suing Qualcomm, thinks the company is nonetheless overcharging for use industry standard patents, which the law requires be licensed out on fair, reasonable, and non-discriminatory (or "FRAND") terms. No concrete decisions on the matter have yet been reached and it's now unclear what conditions would the semiconductor company be prepared to offer to Qualcomm and what level of a bid would the San Diego, California-based tech giant be prepared to consider. The two companies are already among the top 10 providers of chips in an industry that's consolidating rapidly.
Strangers on Delta flight performed sex act in their seats, officials say
Yet another added: "If people will go so far as to disrespect themselves and disrespect you, something should be done". The pair made worldwide news headlines when photos of their raunchy display were captured by another passenger.