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More Qualcomm; EU trade response; Tiffany earnings

1. Qualcomm still in the spotlight: Shares in Qualcomm were up 4% premarket after the ...

Posted: Mar 16, 2018 2:18 PM
Updated: Mar 16, 2018 2:18 PM

1. Qualcomm still in the spotlight: Shares in Qualcomm were up 4% premarket after the Financial Times reported that Paul Jacobs, the former CEO and son of Qualcomm's founder, is working to raise money to take the company private.

Qualcomm's market capitalization is around $89 billion.

The chip maker was recently the target of a hostile takeover bid from Broadcom. The $117 billion offer was formally withdrawn two days after President Donald Trump stopped the deal, citing national security concerns.

2. Trade tensions running high: The European Union is expected to release a full list of US products that it will target for retaliatory measures if Trump follows through on his plan to impose tariffs on EU steel and aluminum.

European Trade Commissioner Cecilia Malmstr-m said last week that the bloc is considering new tariffs on products including US orange juice, bourbon, denim, cranberries, peanut butter and motorcycles.

Analysts are worried that tit-for-tat responses could spark a trade war that would slow economic growth and raise prices for consumers.

New research by the University of Pennsylvania demonstrated that a full-blown trade war would erase any economic benefits from the US tax cuts passed last year.

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3. Earnings: Tiffany & Co will release its earnings before the open. In January, the famed jewelry company lowered its outlook for 2018.

Signet Jewelers, which owns mall-based chains Kay, Jared and Zales, reported earnings earlier this week that disappointed investors. Its shares dropped sharply on Wednesday in reaction to the results.

Deutsche Bank has issued its full year results, but shares in the German lender were little changed.

Shares in Adobe Systems were set to rise after the firm reported better-than-expected quarterly results on Thursday.

4. Global stock market overview: There's not a lot of enthusiasm in stock markets.

US stock futures were holding steady while European markets were mixed in early trading. Most Asian markets closed with losses.

On Thursday, the Dow Jones industrial average rose 0.5%, while the S&P 500 and Nasdaq posted mild losses.

One of the highest profile market movers on Thursday was Snap. Shares dropped by about 4% after Rihanna criticized Snapchat for an advertisement that appeared to mock her experience with domestic violence.

5. A titan steps aside: Legendary business tycoon Li Ka-shing is retiring.

CK Hutchison Holdings, the company that he built into one of the biggest businesses in Asia, has announced that Li will step down as chairman in May.

6. 10 years on: It's been 10 years since the collapse of Bear Stearns.

The fall of the investment bank marked the unofficial start to the global financial crisis.

Watch for CNNMoney coverage on Friday looking back at one of darkest moments in recent financial history.

Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now!

7. Coming this week:

Friday -- Tiffany earnings

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 749532

Reported Deaths: 13746
CountyCasesDeaths
Marion1030911775
Lake554681006
Allen41636691
St. Joseph36947564
Hamilton36527416
Elkhart29363459
Tippecanoe22862225
Vanderburgh22542400
Porter19331325
Johnson18405388
Hendricks17588317
Clark13200193
Madison13120344
Vigo12604253
LaPorte12394221
Monroe12163175
Delaware10947198
Howard10263225
Kosciusko9614119
Hancock8549144
Bartholomew8162157
Warrick7854156
Floyd7772180
Grant7229179
Wayne7155201
Boone6917103
Morgan6736141
Dubois6211118
Marshall6206116
Cass5991108
Henry5894108
Dearborn588978
Noble580186
Jackson508674
Shelby500897
Lawrence4732121
Gibson444093
Harrison440773
Clinton440055
DeKalb438785
Montgomery434690
Whitley406042
Huntington402281
Steuben399259
Miami392768
Jasper386954
Knox375790
Putnam372160
Wabash360583
Ripley346570
Adams344955
Jefferson335685
White330253
Daviess3031100
Wells295181
Decatur289992
Greene286385
Fayette284864
Posey273735
LaGrange272872
Scott269955
Clay265848
Washington244934
Randolph244683
Jennings235149
Spencer234231
Starke227558
Fountain218647
Sullivan213943
Owen211058
Fulton201542
Jay200932
Carroll193420
Orange188055
Perry186937
Rush175726
Vermillion173644
Franklin170235
Tipton165846
Parke149016
Pike138034
Blackford136132
Pulaski120247
Newton112736
Brown103943
Crawford102316
Benton101014
Martin91515
Warren83615
Switzerland8098
Union72810
Ohio57811
Unassigned0420

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1107225

Reported Deaths: 20091
CountyCasesDeaths
Franklin1285061459
Cuyahoga1156322204
Hamilton812991245
Montgomery524951040
Summit48356999
Lucas43309817
Butler38903603
Stark33297929
Lorain25641502
Warren24558303
Mahoning22332601
Lake21139385
Clermont20098252
Delaware18819135
Licking16649222
Fairfield16564204
Trumbull16527479
Medina15597270
Greene15256246
Clark14223306
Wood13281197
Portage13229214
Allen11903239
Richland11598211
Miami10837223
Wayne9116222
Columbiana9023230
Muskingum8889135
Pickaway8652122
Tuscarawas8639247
Marion8635138
Erie8052164
Ashtabula7139179
Hancock6996131
Ross6934161
Geauga6832150
Scioto6530104
Belmont6149174
Union583849
Lawrence5723102
Jefferson5669158
Huron5539122
Sandusky5437125
Darke5415129
Seneca5344126
Washington5308109
Athens523360
Auglaize501687
Mercer487285
Shelby476295
Knox4568112
Madison443765
Ashland435197
Putnam4334103
Fulton431871
Defiance431798
Crawford4033110
Brown401961
Logan387377
Preble3847103
Clinton378566
Ottawa372781
Highland359465
Williams347878
Champaign343858
Guernsey324253
Jackson317554
Perry297150
Morrow291340
Fayette285350
Hardin274865
Henry273267
Holmes2699101
Coshocton268459
Van Wert247264
Adams242956
Pike242735
Gallia240550
Wyandot234556
Hocking220162
Carroll196948
Paulding176342
Meigs148240
Monroe136144
Noble135839
Harrison113738
Morgan109624
Vinton85417
Unassigned03
Fort Wayne
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Angola
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Huntington
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Decatur
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Van Wert
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It'll be another pleasant day with sunshine and highs in the upper 70s.
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