1. Broadcom: failed to pay 8 billion US dollars brokerage acquisition break-up fee, Qualcomm refused;
According to foreign media reports, Broadcom had previously proposed the acquisition of Qualcomm for a price of 121 billion US dollars.The Qualcomm board of directors said on Friday that this week with the Broadcom talks failed to reach an agreement on the deal.Therefore, the fate of the deal Ultimately likely to be Qualcomm shareholders to decide.
In addition, Qualcomm said the company believes Wednesday's talks are "constructive," and the board is open to future talks.
Qualcomm said in a statement on Friday: 'The board agreed that this proposal seriously underestimated the value of Qualcomm, and there are unacceptably high risks, therefore, this is not in the best interests of Qualcomm shareholders.'
Qualcomm shareholders will vote at a general meeting of shareholders on March 6 to determine whether to appoint Broadcom to the Qualcomm Board of Directors, so investors will have the opportunity to decide whether to push the deal or not. If Broadcom's board of directors enters the board, then the new director Broadcom may support the acquisition program.
In addition to quotations, the Qualcomm board also raised concerns about antitrust issues, and although Qualcomm's board is pleased that Broadcom is willing to divest some assets to avoid monopoly issues, it also pointed out that Broadcom declined to answer questions about the future direction of Qualcomm's technology licensing business As a result, Qualcomm's board of directors is hard pressed to figure out what antitrust measures may be required.
Qualcomm also believes that Broadcom's proposed that if the transaction fails to pay $ 8,000,000,000 break-up fee is inappropriate, this fee can not compensate for the transaction failure to Qualcomm shareholders risk.
Qualcomm said: "QUALCOMM's board of directors is open to further communication with Broadcom, and Qualcomm is willing to look at whether the transaction plan properly reflects the true value of QUALCOMM's shares and ensures that the transaction is conclusive at an appropriate level of certainty."
If ultimately unable to reach an agreement, Qualcomm's board is also "very confident", the company's ability to continue to implement the development strategy in the future.
2. Jia Yueting published FF 1.5 billion U.S. dollars in financing admitted that he had committed a "fatal mistake";
ABSTRACT: Speaking at the first Global Supplier Summit in Faraday, Jia said that FF completed $ 1.5 billion of equity financing and basically met the entire equity financing needs of the IPO.He did not disclose the details of the financing and claimed he had made some fatal mistakes, all of which Will be a valuable asset to FF.
This article comes from a financial network, the original title "Jia Yunting first announced FF was 1.5 billion US dollars in financing, admitted to committed a" fatal error. "
February 14, Faraday Future (Faraday Future, referred to as FF) held its first global supplier summit in California, California, FF founder Jia Yueting revealed in his speech, FF has successfully completed equity financing, financing up to 1.5 billion US dollars This basically meets all the equity financing needs before the IPO.
Jiayue Ting also admitted that he has also made some fatal mistakes, all of which will be a valuable treasure of FF.
However, Jiayue Ting did not disclose specific financing details.
Jiayue Ting said, 'Now I will focus on 100% of the day-to-day operations of the FF' FF will be dual home strategy and dual-brand strategy to ensure the success of FF in China and the United States.
Jiayue Ting said, FF91 is not just an electric car, it is a new species, it is a third Internet space .Jia Yuet Ting said that without the concerted cooperation of so many top suppliers, FF will not be able to design and manufacture like FF91, etc. The involvement of these vendors will help FF promote product development and provide a high level of product experience.
At the CES Consumer Electronics Show in Las Vegas last year, FF unveiled the new FF91 model, causing a sensation in the museum, FF also showcased on the road to many long-range, high-performance auto-driving car version.However, FF It has been confirmed to CBN reporter that CES will not be participating in 2018 Las Vegas.
For the once-brutal FF, $ 1.5 billion could solve the company's immediate needs, and last October, FF's former CFO Stefan Krause announced his resignation.He planned several options for the company during his time with Krause: On the one hand actively financing, on the other hand consider the part of the acquisition, the worst is to prepare for the company bankruptcy application.
3. Cisco's second-quarter net loss of 8.778 billion US dollars turnaround year on year;
Cisco Technologies today released its second quarter results for the fiscal year 2018 up to January 27, 2018. The report shows Cisco's second-quarter total revenue of 11.887 billion U.S. dollars Representing a 2.7% increase from US $ 11.58 billion in the same period of last year. Based on the GAAP (GAAP), the net loss was US $ 8.778 billion, with a net profit of US $ 2.348 billion in the same period of last year, turning losses into a year-on-year basis.
Based on GAAP results for the quarter, Cisco included $ 11.1 billion in tax cuts and employment related bills.
Cisco announced that in the future will increase quarterly cash dividend and expand stock repurchase program.Those optimism that the market after the US stock surged to a 52-week high.
Cisco's second quarter main financial data
Revenues: Cisco's second-quarter total revenue of 11.887 billion US dollars, compared with 11.58 billion US dollars the same period last year increased 2.7%, of which product revenue was 8.809 billion US dollars, compared with 8.491 billion US dollars the same period last year increased 2.6%; services Revenue was 3.178 billion U.S. dollars, up 3% from the 3.089 billion U.S. dollars in the same period of last year.
Net loss (or net profit): Based on GAAP, Cisco's second-quarter net loss of 8.778 billion US dollars, a year earlier net profit of 2.348 billion US dollars, turnaround year on year loss per diluted share of 1.78 US dollars, a year earlier Diluted earnings were $ 0.47.
Based on non-GAAP non-GAAP, Cisco's second-quarter net loss of 3.146 billion US dollars, a year earlier net profit of 2.859 billion US dollars, an increase of 10%. Diluted earnings per share was 0.63 US dollars a year earlier Diluted earnings per share of 0.57 US dollars.
Gross profit margin: Based on GAAP, gross profit margin was 63.1%, gross profit margin was 61.5%, gross profit margin was 61.1% over the same period of last year, gross profit margin of service business was 67.4%; based on Non-GAAP, gross profit margin was 64.7% The gross profit margin of products was 63.3%, the gross profit margin of products of the same period of last year was 62.4% and the gross profit margin of service business was 68.5%.
The gross profit margin in the United States was 65.9%, that in the Europe, Middle East and Africa region was 64.6%, and that in APJC was 60.1%. Operating expenses: based on GAAP, business The cost was 4.4 billion U.S. dollars, up 1% on a year-on-year basis. Based on Non-GAAP, operating expenses were 3.9 billion U.S. dollars, up 2% year-on-year, accounting for 32.9% of revenue.
Operating profit: Based on GAAP, operating profit was US $ 3.1 billion, an increase of 6% over the previous year and operating profit margin was 25.9%; operating profit was US $ 3.8 billion based on Non-GAAP, up 5% over the same period of last year; operating profit margin was 31.7%
Cash Flows: Cash flows from Cisco operations for the quarter were $ 4.1 billion, an 8% increase from $ 3.8 billion in the second quarter of FY17.
By the end of fiscal second quarter of 2018, Cisco had total cash and cash equivalents and investments of $ 73.7 billion, up from $ 71.6 billion at the end of the first quarter.
Shareholder Returns: In the second quarter of fiscal 2018, Cisco announced and paid a cash dividend of $ 0.29 per share, totaling $ 1.4 billion in dividends. In the second quarter of fiscal year 2018, Cisco repurchased at an average price of $ 39.07 per share About 103 million shares of common stock, the repurchase amount totaled 4 billion US dollars.
Cisco announced the future will raise quarterly cash dividend and expand stock buyback plan.Cisco company has announced that it will April 25, 2018 April 5 shareholders will pay a quarterly dividend of $ 0.33 a quarter, compared with the previous quarter's pie Interest rates increased by 4 cents, an increase of 14% .Financial interest to be approved by the board of directors.
In addition, Cisco's board of directors approved a $ 25 billion stock repurchase program license that has no fixed end date, plus the remaining share repurchased by the previously authorized stock repurchase program, the total increase in Cisco stock repurchase program by To about 31 billion U.S. dollars.
Business mergers and acquisitions
In the first quarter of fiscal 2018, Cisco announced the acquisition of BroadSoft Inc. BroadSoft, a publicly traded company that provides cloud-based calling and contact services, expects the deal to close by the third quarter of FY2018.
On January 24, 2018, Cisco announced the acquisition of Skyport Systems, a privately held company that provides cloud-managed, hyper-converged systems that run and secure mission-critical applications. The Skyport M & A deal is expected to close in the third quarter of FY 2018.
Performance Outlook
Third quarter of fiscal 2018: Cisco expects third quarter revenue growth of 3% to 5% in the third quarter of FY 2018. Based on Non-GAAP, gross margins ranged from 63% to 64%; operating margins ranged from 29.5% To 30.5%, with a pay-as-you-go income tax rate of 21% and earnings per share between $ 0.64 and $ 0.66. Based on GAAP, earnings per share range between $ 0.50 and $ 0.55. This expectation considers BroadSoft's M & A deal Impact on financial results.
Price changes
Figure: Cisco shares screenshot
Nasdaq stocks closed on Wednesday, Cisco shares rose 0.86 US dollars to close at 42.09 US dollars, or 2.09%. Optimistic earnings and Cisco announced the future will raise quarterly cash dividend and expand stock repurchase program news boosted after-hours market Cisco Share prices soared to a 52-week high. As of 17:59 Eastern Time on Wednesday (6:59 am GMT), Cisco shares rose $ 2.79 after trading, trading at $ 44.88, or 6.63%. Over the past 52 weeks, the share price of Cisco fluctuates between: $ 30.36 and $ 42.98.
4. Analysis said Apple HomePod 216 US dollars profit margin of only 38%;
According to technology media TechInsights analysis, as Apple's first smart speaker products, HomePod costs 216 US dollars in view of its $ 349 price, Apple's smart speaker's profit margin About 38%, well below the rest of the company like Apple Watch and the iPhone.
According to TechInsights, given HomePod's price of $ 349, the cost price of $ 216 shows Apple's profit margin of about 38%. According to TechInsights estimates, the profit margins of the mainstream smart speakers Google Home and Amazon Echo on the market were 66%, and 56%. Other products are more competitive, but have lower audio quality than Apple's HomePod.
Al Cowsky, cost analyst at TechInsight, said: "Apple is shrinking their margins to make it bigger and stronger, and to do that I suspect they are deliberately tweaking the price of the product in order to get there."
According to IHS Markit's material disassembly, the profitability of Apple's flagship handset, the iPhone X, is 64%, which IHS estimates starts at $ 349 starting at Apple Watch since 2015, with an estimated raw material cost of only $ 84.
Unlike its competitors, the Apple HomePod is widely acclaimed for its superior audio quality, but it has also caused industry criticism due to many issues with its integration with Siri digital audio assistants and external application compatibility. Competitors Amazon Like Google, Apple hopes HomePod will bundle consumers with their music subscription service.
Much of HomePod's costs come from its internal speaker technology, including microphones, tweeters, subwoofer and power management components, which cost about $ 58 and the other $ 60 mainly includes expenses for various widgets such as Siri Animation display system.
HomePod's processor A8 chip is estimated to cost $ 25.50 while the form factor and other items cost $ 25. TechInsights also estimates manufacturing, test and packaging costs together for about $ 17.50.
Apple did not respond to HomePod material analysis, Apple Chief Executive Tim Cook said at a 2015 earnings call that the cost analysis for Apple products has always been far from complete.
5. Apple Requirements iOS All Apps Must Fit iPhone X from April;
SAN FRANCISCO, February 16 morning news, Apple informed developers today, from April 2018 onwards, all applications submitted to the App Store must support the Super Retina display iPhone X. This means that the newly applied Developers must ensure that their application can perfectly support the 5.8-inch edge-to-edge OLED screen.
In recent years, Apple has been asking developers to adapt their apps to the latest Apple devices, and Apple said in an e-mail today that they are encouraging developers to have applications support new features in iOS 11 such as Core ML, SiriKit and ARKit However, it should be noted that this does not mean that all applications must support these new features.
In fact, even if Apple does not require developers to adapt to iPhone X, many developers will do it themselves, and most current application developers will adapt iPhone X as the most important task right now.
6. China-Russia border seized a record number of smuggled mobile phones and seven bitcoin mining machines
According to Russia's Siberian News Network reported on February 14, with the border post-Manchuria, Inner Mongolia, China, border post-Begagedski in the inspection of Chinese citizens entering China, seized a large number of smuggled mobile phones .
According to the report, a total of 1937 mobile phones were found by Russian post-Begardski customs inspectors, including Chinese, Nokia, Samsung and China-branded handsets, in several Chinese citizens' carry-on luggage carrying buses to Russia.
In addition, in addition to cell phones, several Chinese nationals are also trying to smuggle 834 kilos of fertilizer, pesticides, insect repellents, plant growth agents and 147 cigarettes labeled "Derby" and seven bitcoin miners.
In a February 14 report, the Russian satellite news agency quoted a news release released by the Information Service of the Siberian Customs Service as saying that this was the largest number of mobile phone smuggling seized by post-Begardski customs car checkpoints in recent years.
At present, all suspected smuggled goods have been confiscated by the Russian Customs, samples have been sent to the relevant laboratory for evaluation. Several Chinese citizens involved have been detained for further investigation.
Earlier, Ms. Tanjana Sokolova, head of the Customs Information Office at the Sheremetyevo Airport in Moscow, the capital of Russia, who smuggled mobile phones from China into the country, said: "Such non-filing or inappropriate filing The act is a smuggling act, which violates the relevant laws of Russia and generally will be subject to administrative punishment. However, if the amount involved is huge, special proceedings will be conducted.
In an article published in the January 30, the Russian businessman quoted an article quoted by Russian mobile marketers as saying that the problem of illegal mobile phone influx in China is particularly serious.On average, about 10% of China's mobile communications equipment in the Russian market, Are imported illegally and for some Chinese brands this percentage can be as high as 50% at some times, especially during the first period after they officially enter the market, and this carry-on 'ant-move' It's one of the smuggling methods in China's 'gray phone'.