Semiconductor giant Qualcomm Inc (QCOM) might negotiate with Chinese market regulators in Beijing this week to help clear hurdles to its proposed acquisition of NXP Semiconductors (NXPI), according to a Reuters report.
With tensions of a possible China-US trade war high in the air, the $44-billion deal was hit by the outcome of diplomatic talks between the two countries. As of now, China is the only global regulator to okay the deal, with the other eight giving it approvals.
With US Secretary of Commerce Wilbur Ross anticipated to meet with Chinese officials in Beijing coming Saturday, the deal approval appeal is expected to happen this week.
Recently, the US government banned ZTE Corp in the country, but later said it reached a consensus to allow the Chinese rival of Qualcomm to operate with a $1.3-billion fine and changes in management roles. Earlier on May, Chinese anti-trust regulator okayed Qualcomm’s JV deal with Datang Telecom Technology Co.
PayPal Holdings Inc. (NASDAQ: PYPL) reported stronger-than-expected earnings and revenues for the first quarter of 2021. Shares of the payment service provider gained during Wednesday’s extended trading session soon after
Twilio (NYSE: TWLO) reported first quarter 2021 earnings results today. Revenue increased 62% year-over-year to $590 million. GAAP net loss widened to $206 million, or $1.24 per share, compared to
Uber Technologies (NYSE: UBER) reported first-quarter 2021 financial results after the regular market hours on Wednesday. The ride-hailing company reported Q1 revenue excluding the UK accrual of $3.5 billion, up