1. Let's make a deal: Investors are reacting to two major deals. The first involves Broadcom, which has announced plans to acquire CA Technologies for $18.9 billion in cash.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +135.00 | | +26.25 | | +11.00 | | +0.55% | | +0.36% | | +0.40% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +255.75 | | +59.89 | | +48.63 | | 22,187.96 | | 2,837.66 | | 7,640.59 | | +1.17% | | +2.16% | | +0.64% | | | |
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| | | Biggest Winners | | CA Inc | +19.19% | | | | American Airlines Group Inc | +1.56% | | | | Twitter Inc | +1.44% | | | | Micron Technology Inc | +1.11% | | | Biggest Losers | | Broadcom Inc | -6.77% | | | | Perrigo Company PLC | -2.60% | | | | Netflix Inc | -0.47% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Broadcom deal; Papa John steps down; ZTE stock surges | | By Alanna Petroff | | | | 1. Let's make a deal: Investors are reacting to two major deals. | | | | The first involves Broadcom, which has announced plans to acquire CA Technologies for $18.9 billion in cash. | | | | Broadcom makes computer chips and CA Technologies builds software for information technology management. The boards of both companies have approved the deal. | | | | CA stock was up 16% in extended trade. Shares in Broadcom, which saw its attempted takeover of Qualcomm blocked earlier this year by the Trump administration, slipped 6%. | | | | Investors also have the chance to catch up on the latest developments in the battle over European broadcaster Sky, which pits 21st Century Fox against Comcast. | | | | Comcast announced a new bid late Wednesday that values Sky at £26 billion ($34 billion). | | | | The offer came hours after 21st Century Fox said it had a reached a deal to buy Sky that valued it at £24.5 billion ($32.5 billion). Fox already owns 39% of Sky. | | | | Sky is seen as a valuable asset for US media companies that are looking to expand into Europe. Sky shares, which have gained 52% this year, jumped 2% higher in London. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 2. Papa John steps down: John Schnatter, the founder and public face of Papa John's, has resigned as the company's chairman after it emerged he used the N-word on a conference call in May. | | | | Papa John's said in a statement late Wednesday it would appoint a new chairman "in the coming weeks." | | | | Shares in the company were steady ahead of the open, following a 4.8% drop on Wednesday. | | | | Schnatter apologized after Forbes reported that he used the racial slur while participating in a role-playing exercise designed to prevent public relations crises. | | | | In a statement issued through the company, Schnatter said: "News reports attributing the use of inappropriate and hurtful language to me during a media training session regarding race are true. Regardless of the context, I apologize. Simply stated, racism has no place in our society." | | | | 3. Asia market movers -- SoftBank, ZTE: Shares in Japanese tech conglomerate SoftBank jumped more than 6% in Tokyo based on reports that New York hedge fund Tiger Global Management had taken a stake of more than $1 billion in the company, saying its price is "significantly undervalued." | | | | "We continue to believe the market significantly undervalues our stock and we welcome the support from a sophisticated institutional investor like Tiger Global," a SoftBank spokesman told CNNMoney. Tiger Global wasn't immediately available for comment outside regular office hours. | | | | ZTE shares spiked 25% in Hong Kong after the US government announced the Chinese company will soon clear the last major hurdle to removing a crippling ban. | | | | ZTE, which makes smartphones and telecommunications equipment, has been in crisis mode since the US Commerce Department blocked American companies from selling it vital components in April. | | | | The Trump administration reached a deal with ZTE to lift the ban in exchange for a series of other punishments, including the company overhauling its top management, bringing in an American monitoring team and paying a $1 billion fine. | | | | 4. Brexit update: The British government will publish a blueprint on Thursday that details its strategy for Brexit. | | | | The plan is unlikely to be accepted by the European Union in its current form. | | | | "How quickly the European Union rejects the terms may hint at the probability of a hard or soft exit," said Paul Donovan, global chief economist at UBS Wealth Management. | | | | 5. Stock market overview: US stock futures were pointing up. | | | | Major European markets advanced in early trading. Asian markets ended the day with gains. The Shanghai Composite rallied 2.2%. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Thursday — Delta Air Lines earnings; US Bureau of Labor Statistics releases June inflation data
Friday — Citigroup, JPMorgan Chase, Wells Fargo, First Republic Bank report earnings; Consumer sentiment index released | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $70.89 | +0.51 / +0.72% | | | Gold | $1,244.50 | +0.10 / +0.01% | | | 10-yr | 2.84% | -0.03 / -1.08% | | | Euro | $1.17 | +0.00 / +0.02% | | | |
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