Broadcom Ltd. (NASDAQ: AVGO) will raise its offer for Qualcomm Inc. (NASDAQ: QCOM). According to The Wall Street Journal:
Broadcom Ltd. plans Monday to raise its offer for Qualcomm Inc.to around $120 billion, a person familiar with the matter said, a move aimed at increasing pressure on the takeover target in what would be the largest-ever technology deal.
Apple Inc. (NASDAQ: AAPL) may pass Spotify as the number one music service in the United States. According to The Wall Street Journal:
Apple Music is on the verge of overtaking Spotify AB in U.S. paid subscribers, a sign that the music-streaming world’s dominant force is facing growing competition ahead of its hotly anticipated public stock offering.
Apple Inc.’s AAPL streaming-music service, introduced in June 2015, has been adding subscribers in the U.S. more rapidly than its older Swedish rival—a monthly growth rate of 5% versus 2%—according to people in the record business familiar with figures reported by the two services. Assuming that clip continues, Apple will overtake Spotify in the world’s biggest music market this summer.
“Jumanji: Welcome to the Jungle” was the number one movie over the weekend. According to Box Office Mojo:
Super Bowl weekend is looking mostly as expected with Sony’s Jumanji: Welcome to the Jungle returning to the weekend top spot after a one week hiatus with a domestic cume topping $350 million and a worldwide total over $855 million. Meanwhile, the weekend’s lone new wide release, the gothic thriller Winchester, delivered on expectations with a third place finish while several Oscar contenders continued to play well.
Boeing Co. (NYSE: BA) expects a surge in Asia sales. According to Bloomberg:
Asia Pacific is likely to have 3.5 billion passengers by 2036, adding more than double the forecast for North America and Europe combined, according to estimates by the International Air Transport Association. To meet that demand, Boeing estimates carriers will need 16,050 new aircraft valued at $2.5 trillion by 2036.
Bon-Ton Stores has filed for Chapter 11. According to CNBC:
Bon-Ton Stores on Sunday filed for Chapter 11 bankruptcy protection, making it the largest retailer to do so thus far in 2018.
The regional department store chain, which has dual headquarters in Milwaukee, Wisconsin and York, Pennsylvania, has been struggling to grow sales and move operations online in the face of Amazon, while hampered by a massive debt load.
Bon-Ton said it received a commitment of as much as $725 million in debtor-in-possession financing from existing asset-backed lenders to support its operations.
Tesla Inc. (NASDAQ: TSLA) is building a new kind of power plant. According to CNNMoney:
Tesla already put together the world’s biggest lithium battery in Australia. Now it’s going for another record.
The state of South Australia has announced plans to equip at least 50,000 homes with solar panels and Tesla (TSLA) battery storage units, connecting them all to the electricity grid to form the world’s largest “virtual power plant.”
More than 6,500 homes have already signed up to register their interest in participating, South Australian Premier Jay Weatherill said in a tweet Monday.