P&G vitamin deal; Amazon's Prime number; Qualcomm's Chinese hurdle

1. Vitamin deal: Procter & Gamble announced Thursday it is buying the consumer health business of Ge...

Posted: Apr 19, 2018 1:01 PM
Updated: Apr 19, 2018 1:01 PM

1. Vitamin deal: Procter & Gamble announced Thursday it is buying the consumer health business of German pharmaceutical company Merck KGaA for about -3.4 billion ($4.2 billion).

P&G said the deal will help it expand its vitamin and health supplements business, giving it broader geographical reach and Merck brands such as Seven Seas and Nasivin. Shares in P&G nudged higher in extended trading.

The company will report its results before the market opens on Thursday. P&G also announced it will end its consumer care joint venture with Teva Pharmaceutical Industries in July.

Merck shares were trading higher in Frankfurt on Thursday. UBS analysts said the price P&G agreed to pay for the business was "better than expected."

2. AT&T-Time Warner: The spotlight is turning to the chief executives in the antitrust trial that will determine the fate of AT&T's $85 billion bid to acquire Time Warner.

AT&T CEO Randall Stephenson is expected to testify on Thursday. Time Warner CEO Jeff Bewkes made the case for the proposed merger on Wednesday, arguing the deal is the only way for Time Warner to be able to compete with tech giants such as Google, Facebook and Amazon.

AT&T announced its intention to acquire Time Warner, the owner of CNN and CNNMoney, in October 2016. But the Justice Department threw a wrench in those plans when it sued to block AT&T's bid in November.

3. Amazon Prime boom: Shares in Amazon jumped higher in premarket trading after its CEO Jeff Bezos revealed Wednesday the company now has more than 100 million Amazon Prime subscribers around the world.

4. Qualcomm's Chinese hurdle: China's Commerce Ministry warned Thursday that the antitrust remedies Qualcomm had proposed for its planned $44 billion purchase of rival chip maker NXP Semiconductors may not be enough to "solve the relevant market competition issues."

China is the last country where the deal still faces regulatory hurdles.

The announcement comes just two days after the United States banned ZTE, one of China's biggest tech companies, from buying components from American firms, including Qualcomm.

5. Global market overview: US stock futures were lower early on Thursday.

European markets opened mixed, following a positive trading session in Asia.

The Dow Jones industrial average slipped 0.2% on Thursday, while the S&P 500 closed 0.1% and the Nasdaq gained 0.2%.

US crude futures jumped 1% on Thursday, after soaring 3% Wednesday. A report on Wednesday showed US crude oil stockpiles fell more than expected. Oil was trading at $69.2 per barrel, the highest since late 2014.

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6. Earnings and economics: Blackstone Group, Bank of New York Mellon, Novartis, Philip Morris International and Procter & Gamble will report their earnings before the opening bell on Thursday.

US initial jobless claims report will be published at 8:30 a.m. ET.

Japanese inflation data will come at 6:30 p.m. ET.

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7. Coming this week:

Thursday - BNY Mellon earnings
Friday - State Street, Procter & Gamble, GE earnings

Minnesota Coronavirus Cases

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Cases: 604184

Reported Deaths: 7620
CountyCasesDeaths
Hennepin1248631774
Ramsey52480895
Dakota46804470
Anoka42746458
Washington27416291
Stearns22552224
St. Louis18137312
Scott17548135
Wright16370149
Olmsted13391102
Sherburne1201295
Carver1066448
Clay825892
Rice8196110
Blue Earth762543
Crow Wing681594
Kandiyohi667885
Chisago619752
Otter Tail585884
Benton582998
Goodhue483874
Douglas475381
Mower470733
Winona461251
Itasca459263
Isanti439964
McLeod430361
Morrison424662
Nobles407950
Beltrami407561
Steele397616
Polk389072
Becker386655
Lyon363853
Carlton352756
Freeborn346932
Pine335023
Nicollet331045
Mille Lacs311654
Brown307840
Le Sueur297226
Cass286032
Todd285632
Meeker263142
Waseca238023
Martin235332
Roseau211021
Wabasha20783
Hubbard196441
Dodge18783
Renville182446
Redwood176338
Houston174616
Cottonwood167124
Wadena162823
Fillmore157410
Faribault154419
Chippewa153938
Pennington153820
Kanabec146828
Sibley146810
Aitkin138837
Watonwan13579
Rock128719
Jackson122612
Pipestone116726
Yellow Medicine114920
Pope11296
Murray107010
Swift106918
Koochiching95217
Stevens92411
Clearwater89016
Marshall88817
Wilkin83213
Lake83120
Lac qui Parle75622
Big Stone6044
Grant5938
Lincoln5843
Mahnomen5669
Norman5479
Kittson49022
Unassigned48293
Red Lake4017
Traverse3775
Lake of the Woods3453
Cook1720

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 370914

Reported Deaths: 6048
CountyCasesDeaths
Polk58232640
Linn21204339
Scott20306247
Black Hawk16119312
Woodbury15238230
Johnson1461585
Dubuque13506211
Dallas1128999
Pottawattamie11223174
Story1071448
Warren583991
Clinton561493
Cerro Gordo553593
Sioux517074
Webster515494
Muscatine4880106
Marshall486676
Des Moines467271
Wapello4337122
Buena Vista426940
Jasper421172
Plymouth402981
Lee382356
Marion366076
Jones300957
Henry294637
Bremer288261
Carroll286852
Crawford268540
Boone268434
Benton259655
Washington256751
Dickinson249344
Mahaska232351
Jackson225242
Clay216627
Kossuth216166
Tama211871
Delaware210943
Winneshiek198535
Page194522
Buchanan193733
Cedar192223
Hardin187444
Fayette186543
Wright185940
Hamilton181851
Harrison179973
Clayton171057
Butler166235
Madison164619
Mills163724
Floyd163342
Cherokee159338
Lyon158841
Poweshiek157036
Allamakee152652
Hancock150234
Iowa149824
Winnebago144531
Cass139255
Calhoun138913
Grundy137333
Emmet135841
Jefferson133435
Shelby131537
Sac130920
Union129935
Louisa129749
Appanoose129049
Mitchell126643
Chickasaw124717
Franklin123323
Guthrie123232
Humboldt119626
Palo Alto113523
Howard104922
Montgomery103638
Clarke100924
Keokuk96532
Monroe96330
Unassigned9560
Ida91535
Adair87332
Pocahontas85822
Davis85225
Monona82931
Osceola78916
Greene78011
Lucas77923
Worth7598
Taylor66812
Fremont6269
Decatur6169
Van Buren56418
Ringgold56324
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Adams3444
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