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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 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 The $117 billion offer was formally withdrawn two days after President Donald Trump stopped the deal, citing national security concerns.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.

Cases: 154411

Reported Deaths: 3836
CountyCasesDeaths
DeSoto10409104
Hinds10279202
Harrison7313112
Jackson6566128
Rankin5887106
Lee529496
Madison5014107
Forrest389786
Jones369088
Lauderdale3594147
Lafayette338253
Washington3246108
Lamar297850
Oktibbeha252362
Lowndes247064
Bolivar244384
Panola232653
Neshoba2249121
Marshall222851
Leflore208591
Monroe206778
Pontotoc204231
Lincoln197366
Sunflower192655
Warren180258
Tate177751
Union171926
Copiah167940
Pike165359
Yazoo160140
Scott159430
Itawamba157635
Alcorn155628
Pearl River155368
Coahoma152743
Simpson152653
Prentiss151331
Adams144752
Grenada143345
Leake139744
Holmes133461
Covington128639
Tippah128430
George128325
Winston125526
Hancock124341
Wayne121323
Marion119446
Attala119334
Tishomingo112443
Chickasaw109432
Newton108229
Tallahatchie98127
Clay94727
Clarke93653
Jasper85223
Stone80615
Calhoun78713
Walthall77629
Montgomery76926
Carroll74115
Lawrence73814
Smith73216
Yalobusha73128
Noxubee72717
Perry68326
Tunica62619
Greene61522
Jefferson Davis59017
Claiborne58916
Amite56615
Humphreys54719
Benton50018
Quitman5007
Webster46714
Kemper45018
Wilkinson40522
Jefferson37112
Choctaw3617
Franklin3555
Sharkey32417
Issaquena1204
Unassigned00

Alabama Coronavirus Cases

Cases: 252900

Reported Deaths: 3638
CountyCasesDeaths
Jefferson33526501
Mobile20103365
Madison13723151
Tuscaloosa13366154
Montgomery12552236
Shelby1079677
Baldwin9051137
Lee787266
Morgan696451
Calhoun6598121
Etowah656167
Marshall647357
Houston541038
DeKalb498137
Cullman462443
St. Clair441956
Limestone440445
Lauderdale426754
Elmore421164
Walker3735111
Talladega370157
Jackson340423
Colbert332042
Blount306140
Autauga281842
Franklin257434
Coffee250015
Dale239054
Dallas231532
Chilton228939
Russell22663
Covington225034
Escambia202331
Tallapoosa187291
Chambers182750
Pike161514
Clarke161019
Marion144736
Winston137523
Lawrence133436
Pickens126518
Geneva12508
Marengo123424
Bibb120418
Barbour118911
Butler118642
Randolph105522
Cherokee105124
Hale98131
Fayette94616
Washington93219
Clay92824
Henry8896
Monroe83011
Lowndes80929
Cleburne78814
Macon75522
Crenshaw72230
Bullock70119
Lamar7018
Conecuh70014
Perry6916
Wilcox64818
Sumter58622
Greene43518
Choctaw43114
Coosa3664
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