ISM Services due; PTC surges on Schneider deal, Qualcomm rises
Markets are awaiting 10:00 AM ET ISM Services, expected around 55.1 versus 55.4 previously, and Wednesday's FOMC minutes. Premarket, PTC is up about 35% after Schneider Electric agreed to buy it for $205 a share in a $22.6 billion all-cash deal, Qualcomm is up nearly 4% after a Huawei patent agreement, and Intel is down roughly 3% to 4% on reports about TSMC and Elon Musk's Terafab venture.
By George GloverElon Musk was the bearer of bad news for Intel over the weekend-and the chip manufacturer's red-hot stock was taking a hit on Monday as a result.Intel shares slid 4% to $114.52 ahead of the opening bell. They were up 25% over the one-month stretch through Friday's close.The stock lo…
10:49:43 AM UTC
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QCOM 𝗤𝘂𝗮𝗹𝗰𝗼𝗺𝗺: 𝗦𝗶𝗴𝗻𝘀 𝗠𝘂𝗹𝘁𝗶𝘆𝗲𝗮𝗿 𝗣𝗮𝘁𝗲𝗻𝘁 𝗖𝗿𝗼𝘀𝘀-𝗟𝗶𝗰𝗲𝗻𝘀𝗶𝗻𝗴 𝗗𝗲𝗮𝗹 𝗪𝗶𝘁𝗵 𝗛𝘂𝗮𝘄𝗲𝗶, 𝗪𝗶𝗹𝗹 𝗠𝗮𝗸𝗲 𝗙𝗶𝗿𝘀𝘁 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝘁𝗼 𝗛𝘂𝗮𝘄𝗲𝗶 ⠀ · Agreement covers 680+ Huawei patents across 5G, AI, networking and chip technologies, including LogicFolding and near-packaged optics IP. · Qualcomm will also acquire certain Huawei U.S. patents, subject to U.S. regulatory review.
11:04:12 AM UTC
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By Liam ProudThe French giant's shares fell 10% after it agreed a $24 bln purchase of US industrial-software firm PTC. Investors may fret the deal distracts from a data-centre windfall. Even if that's too harsh, Schneider says it will take five years to create value, which justifies caution.Full v…
4 previously, with markets also looking ahead to Wednesday's FOMC minutes for insight into the Fed's September rate hike and the path ahead. 6 billion all-cash deal; Qualcomm is up nearly 4% following a multi-year Huawei patent agreement, while Intel is down roughly 3%—4% after reports that TSMC is in talks with Elon Musk's Terafab venture. 2%+ 10-year yield, Fed expectations and oil remain today's key market drivers, with another soft economic reading likely to reinforce expectations that the Fed stays on hold in October.