The KUIK Morning Market Report for Monday, March 13:
Markets are mixed.
Index
Direction
Change
Units
Time
Dow
Down
(14)
points
20,890
6:59 AM
S&P500
Down
-0.1%
percent
2,371
Nasdaq Composite
Up
0.0%
percent
5,864
30 Year Treasury
Up
1
Basis Points
3.18
Annual Yield
Intel announced today it’s buying Mobileye for about $15.3 billion, a big investment in the future of self-driving cars. The deal values Mobileye at $63.54 a share, a 34% premium to Firday’s closing price. Mobileye shares rose 33.3% to $63.01 in premarket trading and were recently halted. Mobileye is based in Jerusalem, Israel and makes chip-based camera systems that being used in cars today. The two companies already have ties. Intel, Mobileye, and BMW, have a partnership to test 40 self-driving cars.
Scotland’s First Minister Nicola Sturgeon confirmed plans for a second Scottish independence referendum in the wake of the U.K.’s plan to leave the European Union. The new referendum could take place between the autumn of 2018 and spring 2019. Scotland would vote on its independence before the U.K. has left the EU and possibly allow it to stay in the EU. Scottish voters overwhelmingly backed remaining in the in the EU in the U.K.’s Brexit referendum in June last year. In the first Scottish independence ballot in 2014, the country chose not to split from the U.K., with 55% choosing to remain.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
