The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
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Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread 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.