Morning Brief: Broadcom buys software company CA for $19B

Thursday, July 12, 2018

What to watch today

Investors in the U.S. will get the most important economic data point of the week on Thursday, and that is the June report on inflation. Consumer prices are expected to have risen 0.2% during the month and 2.9% over the prior year, according to estimates from Bloomberg.

On the earnings side, the only S&P 500 company set to report results is Delta Air Lines (DAL). The airline is expected report adjusted earnings per share of $1.72 on revenue of $11.72 billion.

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Top news

REUTERS/Mike Blake/File Photo

Broadcom inks $19B deal to buy software company CABroadcom Inc. announced a $18.9 billion deal to buy U.S. business software company CA Inc. (CA) on Wednesday, venturing far beyond its realm of semiconductors and testing investors’ confidence in its Chief Executive Hock Tan’s dealmaking credentials. [Reuters]

Comcast boosts Sky bid to $34BComcast Corp. (CMCSA) increased its takeover bid for Sky Plc to $34 billion, topping an offer from Rupert Murdoch’s 21st Century Fox Inc. (FOXA) and escalating a global standoff between the media giants. [Bloomberg]

OPEC output may be stretched to limit, IEA saysOPEC’s Gulf members may need to pump almost as much crude as they can to cover swelling supply losses from Venezuela to Iran and beyond, the International Energy Agency said. [Bloomberg]

Papa John’s Chairman John Schnatter resigns: Pizza chain Papa John’s International Inc. (PZZA) said on Wednesday its founder and former chief executive, John Schnatter, resigned as chairman of the board. The resignation comes after Forbes reported earlier in the day that Schnatter used a racial slur on a conference call. [Reuters]

Twitter to remove suspicious accounts from follower counts: Twitter (TWTR) says it will begin removing suspicious accounts it has locked from its counts of users’ followers. Twitter users are likely to see a reduction in their follower counts in the coming days. For many, this will amount to a reduction of four followers or less. But large accounts of celebrities and public figures could see bigger drops. [AP]

For more of the latest news, go to Yahoo Finance

Players of Croatia celebrate after the semifinal match between Croatia and England at the 2018 soccer World Cup in the Luzhniki Stadium in Moscow, Russia, Wednesday, July 11, 2018. (AP Photo/Francisco Seco)

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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.