The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
United Airlines will take its 14 Boeing 737 Max jets off its schedule for another month, through Aug. 3, canceling another 1,290 flights.Airlinesread more
Trade could be a big factor for markets in the week ahead, but investors will also be attuned to fresh inflation data and the bond market, which is flashing new worries about...Market Insiderread more
Mississippi is one of several states that have moved to pass new restrictions on abortion this year.Politicsread more
The companies are wary of Apple's potential influence over a deal, said the people, who asked not to be named because the discussions are private. They're also worried about Broadcom's reputation of cutting costs rather than investing in new technology, the people said.
Qualcomm rejected a hostile $105 billion bid last month, leading to Broadcom nominating a new slate of board directors for the San Diego-based company earlier this week. Regulators frequently ask for industry input when making a judgment on whether or not to approve a deal. Qualcomm it has antitrust concerns about a potential Broadcom takeover.
Qualcomm has told Microsoft, Google and other companies not to make any public statements opposing a deal, said the sources. Qualcomm wants to find out if Broadcom will significantly increase its $70-per-share offer before taking a firmer stance against a possible deal, said the people.
A Broadcom transaction for Qualcomm may improve Apple's relationship with the chipmaker, which currently provides chips used in the iPhone and iPad. Qualcomm is suing Apple for patent infringement after Apple in January sued Qualcomm for roughly $1 billion, claiming Qualcomm charged royalties improperly. Qualcomm has issued and applied more than 130,000 patents covering, among other things, smartphone technology.
The litigation could result in Apple abandoning Qualcomm for future products.
But Broadcom Chief Executive Hock Tan has privately expressed optimism about settling an ongoing litigation with Apple if Broadcom were to acquire Qualcomm, according to a person familiar with the matter.
Apple's gain could be its competition's loss.
In Google's case, many of the phone and tablet makers who build phones on its market-leading Android operating system use Qualcomm processors. Android and its derivatives make up 85 percent of the smartphone market, according to IDC.
Microsoft just announced the first Windows 10 PCs using Qualcomm chips, and it may continue to push these types of tablet and hybrid PCs, which use less power than traditional Intel-based PCs, as it seeks to compete with Apple's iPad.
While Microsoft and Google are two of the largest companies in the world, neither rival Apple or Samsung in terms of sales volume from either Qualcomm or Broadcom. Still, both Microsoft and Google perceive an independent Qualcomm as being more closely aligned with their interests than a Broadcom-owned Qualcomm that is tighter with Apple.
The companies have also privately expressed concerns with Tan's reputation of cutting costs at the expense of increasing spending on innovation, two of the people said.
Complaints from these third parties could play a role in scuppering the deal. In the press release announcing the proposed buyout, Tan said "We would not make this offer if we were not confident that our common global customers would embrace the proposed combination."
Spokespeople for Qualcomm, Broadcom, and Google declined to comment. A spokesperson for Microsoft couldn't be reached for comment.