Shares of Broadcom surged today after the company said it might sell its cellular baseband business. Broadcom hired J.P. Morgan Chase to explore options as it focuses on its other businesses. The chip maker estimates the move could result in savings of about $700 million a year. The stock jumped nine percent to $34.84.
American Realty Capital Healthcare Trust & Ventas
The countries biggest real estate investment trust is about to get even bigger. Ventas is paying $2.6 billion to buy American Realty Capital Healthcare Trust. Both companies are REITS specializing in medical office buildings and senior living facilities. Shares of American Realty were up 9.5 percent to $10.91, but Ventas lost almost three percent to $64.93.
Marathon Oil is selling its North Sea oil business in Norway to a Norwegian oil producer for about $2 billion. The move is an effort by Marathon to streamline its portfolio and assets and focus on the United States. Shares were off a fraction to $36.44.
Google is reportedly planning to spend more than $1 billion in satellites. The tech giant wants to spread internet access to unwired regions of the world. Despite the buzz, Google Glass A shares were off more than one percent to $564.34.
Delta & Airbus
Delta ordered 15 aircrafts from Airbus for delivery in 2018. The airline didn’t say how much it paid, but the list price of the order is more than $1.5 billion. The new planes will replace similar ones that the company just retired from its fleet. Shares of Delta were up two percent to $40.77.
Donut maker Krispy Kreme reported disappointing results after the close. Earnings matched the Street’s estimates, but sales came in light. Shares took a dive after the report, during the regular trading day the stock was on a little sugar high, finishing up slightly to $19.