Now. And welcome to power lunch. Im milissa lee. Holding steady this hour, dow managed to hit another record high right at the open before pulling back here. Apple one of the biggest drags in the session this after the company acknowledged cellular connectivity problem with its new watch annadarko, a massive buy back and fifth straight day of gains and near session highs on pace for a fifth positive day in six we begin here with a developing story. President trump announcing new sanctions on north korea eamon javers has the latest. Hi milissa. Alongside south koreas president moon at an event in new york city. The president saying, first, the United States had put new sanctions on north korea and also that the chinese president had told chinese central bank, told banks in china not to do business with north korean entities indicating the chinese are getting serious about exactly what he wants them to do in terms of north korean trade what the president had to say thanking chinese presi
John fortt on the New York Stock Exchange watch the markets set more record highs dows up 20. All about earnings. Investors awaiting the busiest earnings week of the quarter more than 160 s p 500 companies and 12 dow components are set to report Big Companies like mcdonalds, microsoft, amazon, alpha bet, and more on tap. Lets bring in john from charles schwab, also joining us here post 9, bob pisani were having a debate whether its tax reform or earnings. What say you absolutely the earnings situation with tax reform a cherry on the top. Were going to be down this quarter opposed to double digit in the prior two quarters, but thats because the Insurance Companies are getting hit on the hurricanes, that will change in the next quarter, and the oil profits arent quite as high because oil started turning around Third Quarter last year overall, we are near record high earnings and its the Global Economy expanding thats the most important thing right now expecting hurricane disruptions. On
Next week. Want to know what it is . Heres a hint. Well tell you how to play snap shares into earnings for less ribs the action begins right now. And we start the show with deal chatter in the chip space shares of qualcomm soaring nearly 13 on reports it could be a takeover target of rival broadcomm, marked what could be the biggest merger in the ship space ever, broadcomm ending the day more than 5 some stocks are surging more than 100 . Now were starting to fade the move, why the change of heart . Its interest that a mega deal comes back. A lot of viewers understand that qualcomm is already in agreement to actually purchase nxpi which was another mega deal. So this is broadcomm coming in and kind of shaked that thing up a little bit m a was a big driver this sector, 2015, 2016, there was hundreds of billions of dollars in the Semiconductor Space the rumor of this deal is kind of interesting especially when the sector has massively outperformed technology as a whole, the etf that trac
This could be the biggest ever take over of a chipmaker. Walkon shares are spiking, up a 9 , and we are talking combined company that would have a market cap of around 200 billion and around 35 billion in annual sales. Broadcoms shares, which have been rising on a halo effect from apple, sort of volatile now. They are still gaining by about 1. 6 . If you recall yesterday, broadcom has it was changing its domicile from singapore to the United States. It made that announcement with President Trump as part of the gop tax proposal. Brooke sutherland, on bloomberg gadfly, had a piece out on why she believes broadcom would be moving to the United States in any case and reasons why, and now potentially taking over a chipmaker. There are other implications as part of this as well. Qualcomm is trying to close an acquisition of 47 billion to acquire nxp semiconductors, but that deal has been facing a regulatory examination in europe. Those shares and Elliott Management fell as these headlines ca
Heres a hint. Well tell you how to play snap shares into earnings for less risk the action begins right now. And we start the show with deal chatter in the chip space shares of qualcomm soaring nearly 13 on reports it could be a takeover target of rival broadcomm, marking what could be the biggest merger in the chip space ever, broadcomm ending the day more than 5 some stocks are surging more than 100 . Now were starting to fade the move, why the change of heart . Its interesting that a mega deal comes back. A lot of viewers understand that qualcomm is already in agreement to actually purchase nxpi, which was another megadeal so this is broadcomm coming in and kind of shaking that thing up a little bit. M a was a big driver this sector, 2015, 2016. There was hundreds of billions of dollars in the semiconductor space. The rumor of this deal is kind of interesting especially when the sector has massively outperformed technology as a whole. The etf that tracks the Semiconductor Sector is