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$AVGO made its final offer to acquire $QCOM and under the terms of the proposed agreement Qualcomm stockholders would receive an aggregate of $82 per each Qualcomm share, consisting of $60 in cash and the remainder in Broadcom shares. The new offer represents a 50% premium over the closing price of $QCOM stock on Nov. 2, 2017.
$GOOGL $GOOG intends to use cash primarily to support organic growth. The stock repurchase program has been extended to 8.6Bil more Class-C shares. The primary areas of investment will be machine learning, Cloud, Search and YouTube. In 4Q17, the company forged partnerships with Cisco, Salesforce and SAP for Cloud, G-Suite and Analytics services.
$GOOGL $GOOG said it expects traffic acquisition costs to continue to increase in near term, reflecting the growing strength in mobile search. In 2Q18, products of home gadget division Nest were launched in 12 new countries. During the quarter, Waymo, the fleet of fully-automated self-driving cars, surpassed 4MM miles of driving on public roads.
The iPhone maker $AAPL's revenue jumped 12.6% to $88.29Bil in 1Q18, though the number of iPhone units sold fell 1% YoY, thanks to the pricier iPhones that increased the company's margins. Japan had the highest growth in revenue of 26% followed by Rest of Asia Pacific, Europe & Greater China. $AAPL guided for 2Q18 revenue of between $60-62Bil.
Geographically for 1Q18, $AAPL showed good growth across all regions. Japan showed the highest momentum with revenue surging 26% YoY, while China revenue grew 11%, driven by higher sales of the company's premium smartphone iPhoneX. The company also reported that its active installed base of devices reaches 1.3Bil in January.
Search service giant $GOOG $GOOGL incurred a heavy tax-related charge in 4Q17, and slipped into the negative territory. Contrary to expectations, Alphabet reported a loss of $4.35 per share, triggering a sharp fall in the stock price. Strong advertisement revenues lifted the topline by 24%. Other Bets remained in loss, despite a rise in revenues.
$AVGO said the US Federal Trade Commission has requested more information regarding its acquisition plan of $QCOM. The effect of the second request is to extend the 30-day waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976. After $AVGO complies with the request, the regulator has 30 days to complete its review.
$IBM said it expects to deliver operating EPS of about $13.80 for 2018. The company also expects free cash flow of about $12Bil, resulting in free cash flow realization of over 100%. Additionally, for 2018, revenue growth is expected at current spot rates.
For FY17, $IBM generated free cash flow of $13Bil, excluding Global Financing receivables. The company also returned $9.8Bil to shareholders through $5.5Bil in dividends and $4.3Bil of gross share repurchases. $IBM ended 4Q17 with $12.6Bil in cash, while debt totaled $46.8Bil, including Global Financing debt of $31.4Bil.
Big Blue $IBM reported its first ever revenue growth in five years, with 4Q17 revenue growth of 3.5% YoY to $22.5Bil, driven by cloud computing business and artificial intelligence investments. However, $IBM reported a net loss of $1.05Bil or $1.14 per share, impacted by a one-time charge of $5.5Bil associated with the enactment of U.S. tax reform.