The KUIK Morning Market Report for Monday, November 6:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
16
points
23,556
7:11 AM
S&P500
Up
0.1%
percent
2,589
1.37
Nasdaq Composite
Up
0.3%
percent
6,782
30 Year Treasury
Down
(2)
Basis Points
2.80
Annual Yield
Plenty of news from the world of tech. Advanced Micro Devices announced the morning it has designed a graphics processor unit that can be used in a new multi-chip processor package designed by Intel, confirming a report in The Wall Street Journal. The new product integrates an Intel Core processor, AMD’s Radeon graphics chip and second-generation high bandwidth memory into a single package. Intel expects the new product to launch in the first quarter of 2018. AMD shares are up 6.5% while Intel is up almost 1% to $46.51.
Broadcom announced it has made an unsolicited proposal to buy Qualcomm in a cash and stock deal valued at $130 billion, including debt. Under terms of the bid, Broadcom would pay $70 a share for each Qualcomm share outstanding, giving $60 a share in cash and $10 a share in Broadcom stock. That represents a 13% premium to Friday’s closing price of $61.81. The bid would give Qualcomm a market capitalization of $103.2 billion. Broadcom said the bid stands whether Qualcomm closes its deal to buy NXP Semiconductors for $110 a share or not.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
