Amazon Considers Texas Instruments and 2 Hot Stocks Trading Today
According to a report in Israeli financial paper Calcalist, Amazon (NASDAQ:AMZN) may buy up the cellular chip business of Texas Instruments(NYSE:TXN), if talks which are in an advanced stage, are successful. The multi-billion dollar deal could place Amazon in the ranks of Apple and Samsung – the internet retailer, which makes its own tablets, is said to be considering a smartphone. TI’s chips are also used in Amazon rival Barnes & Nobles‘ (NYSE:BKS) Nook tablets.
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It’s official. Softbank announces at a Tokyo press event that it is acquiring a 70 percent stake in Sprint (NYSE:S) in a $ 20.1 billion transaction expected to be completed by mid-2013. It will purchase $8 billion of newly-issued shares of Sprint and $12.1 billion in existing shares.
Citigroup (NYSE:C) reports Q3 EPS of $1.06 and revenues of $ 19.4 billion which beat estimates by $ 0.07 and $ 750 million respectively. Reserves written back are $1.5 billion, up by 6%, while loan losses provided for are $25.9 billion and amount to 4% of total loans. Capital adequacy ratio (Tier I) is 13.9%. The bank did much better than rivals on its net interest margin – which improved by 5 bps to 2.86% while analysts expected a drop of 11 bps.