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 1:18 PM
Updated: Mar 16, 2018 1:18 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 The $117 billion offer was formally withdrawn two days after President Donald Trump stopped the deal, citing national security concerns.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

Mississippi Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 32888

Reported Deaths: 1188
CountyConfirmedDeaths
Hinds264246
DeSoto176718
Madison135536
Jones115949
Neshoba101673
Harrison100312
Rankin99915
Lauderdale93781
Forrest92743
Scott78515
Jackson70417
Copiah62715
Washington62610
Leake59820
Lee57521
Holmes57041
Oktibbeha55728
Wayne55116
Warren54020
Yazoo5336
Grenada5227
Lowndes51513
Leflore50756
Lamar5007
Lincoln49234
Pike46617
Sunflower4368
Monroe43135
Lafayette4194
Covington3965
Panola3926
Bolivar37018
Attala36523
Simpson3603
Newton35210
Adams33218
Tate31912
Pontotoc3166
Marion30812
Chickasaw29119
Claiborne28910
Winston28210
Noxubee2738
Pearl River26932
Jasper2666
Marshall2643
Clay25111
Smith23412
Union23311
Coahoma2136
Clarke21125
Walthall2087
Lawrence1892
Yalobusha1838
Kemper17914
Carroll17111
Humphreys1569
Tallahatchie1564
Montgomery1432
Calhoun1425
Tippah14211
Itawamba1408
Hancock13413
Webster12811
Tunica1153
Jefferson1143
Jefferson Davis1144
Prentiss1113
Greene1089
Amite1043
George943
Wilkinson949
Tishomingo911
Quitman891
Alcorn762
Perry764
Choctaw754
Stone722
Franklin472
Benton420
Sharkey400
Issaquena101
Unassigned00

Alabama Coronavirus Cases

Confirmed Cases: 48588

Reported Deaths: 1042
CountyConfirmedDeaths
Jefferson5687161
Mobile4315136
Montgomery4275109
Tuscaloosa238248
Marshall181511
Madison16208
Lee146337
Shelby141424
Morgan11575
Baldwin10399
Walker101825
Elmore97519
Dallas9189
Franklin90616
Etowah83413
DeKalb7905
Chambers64727
Autauga64312
Butler63728
Tallapoosa60669
Russell5890
Unassigned53826
Houston5366
Limestone5251
Lauderdale5146
Cullman4905
Lowndes47922
Pike4525
Colbert4426
St. Clair4402
Escambia4358
Calhoun4035
Coffee3923
Covington38110
Bullock36910
Barbour3622
Jackson3432
Talladega3337
Dale3261
Marengo32011
Hale31722
Wilcox2958
Clarke2876
Sumter28512
Winston2773
Chilton2762
Blount2581
Monroe2442
Pickens2446
Marion24114
Randolph2289
Conecuh2187
Macon2029
Choctaw19912
Bibb1981
Greene1888
Perry1791
Henry1403
Crenshaw1253
Washington1217
Lawrence1130
Cherokee1117
Geneva860
Lamar801
Fayette721
Clay692
Coosa601
Cleburne391
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