US Market Report
Some Headlines to begin with as it's very busy after the close
Apple plans to buy Intel's wireless chip unit for $1 billion
Apple has agreed to buy the majority of Intel’s smartphone modem division, both companies announced on Thursday.
Apple will receive 2,200 Intel employees as well as intellectual property and equipment.
The deal was worth $1 billion, according to the announcement. Apple currently purchases Intel modems for iPhones, which allow it to connect to networks operated by carriers such as Verizon and AT&T.
Apple was Intel’s only modem customer. Apple also buys modem chips from Qualcomm. Earlier this year, as part of a settlement over patent licensing, Apple agreed to buy Qualcomm chipsets for “multiple” years,
leading analysts to believe Qualcomm will provide chips for future iPhones, including future versions that may support 5G networks.
Google Soars To 3-Mo Highs After Top- & Bottom-Line Beat, Moar Buybacks
Share of Google parent Alphabet are up 6% after-hours following a better than expected print in top- and bottom-line.
Cost-per-click fell only 11% on the year, and paid clicks on Google properties (like search and YouTube) were up 28%. Alphabet's Effective Tax Rate fell from 24% to 18%…but
Additionally, Alphabet authorized an additional $25 billion in share buybacks.
Starbucks stock rallies after company tops views, raises guidance
Shares of Starbucks Corp. rose nearly 6% in the extended session Thursday after the company reported fiscal third-quarter profit and sales above Wall Street expectations and raised its guidance for the year.
Adjusted for one-time items, the company earned 78 cents a share in the quarter, compared with 62 cents a share a year ago. Revenue rose to $6.8 billion, from $6.3 billion.
Starbucks said it expects sales growth of about 7%, versus a previous guidance of 5% growth. Global same-store sales are seen increasing 4%, from a previous guidance of 3% to 4% growth.