The Euro is headed for a period of solid growth, while the U.S. economy is set to enjoy a rise in tourism in the U.S., which will be accentuated by a 3.6% growth in New York City. Despite its naysayers, the U.S. economy has been on a roll under President Trump, with the Dow Jones Industrial Average soaring more than 25% since presidential candidate Hillary Clinton conceded.
Mergers and acquisitions made up the bulk of the weekend’s news, with Boeing Co (NYSE:BA), Qualcomm, Inc. (NASDAQ:QCOM) and SoftBank Group Corp (OTCMKTS:SFTBF) all making headlines ahead of Monday’s action.
Here’s what you should know
Boeing Co (BA)
Boeing announced that it would be selling jets to Emirates Airlines.
The airline said on Sunday that it would be shelling out $15 billion to acquire 40 Boeing jets. The vessel in question is the company’s Dreamliner, the 787-10, which helped Emirates launch more than 30 years ago.
Boeing hopes to beat AIRBUS SE (OTCMKTS:EADSY) to the punch as the latter is also hoping to sell its latest jets to Emirates. Airbus is seeking to sell its A380 to the airline, which are larger than the former’s offering.
Emirates chairman Sheikh Ahmed bin Saeed al-Maktoum said his airline opted for the Boeing design, which is a mid-sized, wide-body jet that will make a better commercial vessel for the company.
Airbus has been looking to sell more units of the A380 design, which has experienced a sales decline in recent years despite the high efficiency offered by the jets.
It was expected that Emirates would announce a deal worth $30 billion that would be split by Airbus and Boeing.
BA stock has gained 67.6% year-to-date.
Qualcomm, Inc. (QCOM)
The latter is reportedly willing to shell out $103 billion for Qualcomm, with a deal that could be announced soon. Many speculated that the acquisition attempt was unwanted by the company.
The chances of such a merger happening have dwindled as Qualcomm may reject the takeover bid as soon as next week, according to four people familiar with the matter.
Although the decision to end merger talks may come as soon as Monday, the board of directors at Qualcomm will come together to decide how soon it will rebuff the deal, and what message it will send Broadcom.
QCOM CEO Steven Mollenkopf has reportedly been asking the company’s shareholders for feedback regarding the deal, noting that the bid — which values the company at $70 per share — is too low.
Broadcom CEO Hock Tan said earlier in November that he is willing to engage in a takeover battle with Qualcomm. QCOM shares were selling for $64.57 apiece ahead of Monday’s market open.
The stock has surged 22.5% over the last three months.
SoftBank Group Corp (SFTBF)
SoftBank is reportedly seeking to buy a piece of Uber Technologies Inc.
An Uber spokesperson told TechCrunch that the company has entered into an agreement with a consortium that is being brought forth by SoftBank and Dragoneer over a potential investment.
“We believe this agreement is a strong vote of confidence in Uber’s long-term potential,” they added. “Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance.”
The transportation services company has not commented on the details of such a deal, but SoftBank will reportedly invest $1 billion in Uber at the company’s last private valuation of almost $70 billion.
The agreement is expected to be launched on Nov. 28, with talks continuing for about 20 business days. It would be Uber’s largest secondary transactions as shareholders would sell a considerable chunk of their stakes.
Such a deal can only happen if enough Uber shareholders sign up to sell their shares. The $1 billion investment is contingent on the tender offer getting finalized.
SFTBF shares have popped 12% over the last six months.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.