Marvell Tech (MRVL) is buying rival Cavium (CAVM) for $6 billion. The half-cash, half-stock deal will help the combined company better compete with industry giants like Intel and Broadcom.
Alibaba (BABA) is taking a deep dive into brick-and-mortar. The Chinese e-commerce giant will pay nearly $3 billion dollar for a 36% stake in Sun Art Retail Group, China’s top hypermart operator. The deal gives Alibaba a foothold in China’s $500 billion food retail sector. Alibaba has been looking to integrate online and offline shopping without having to build its own physical stores.
Verizon (VZ), the parent company of Yahoo, is closer to securing digital streaming rights with the NFL. The deal would let Verizon subscribers watch games on all devices including big-screen TVs. Right now, Verizon is limited to just phones. According to Bloomberg, Verizon would lose exclusive rights to air games on mobile, opening up the market for providers like Roku and Sling.
Investors are also watching Urban Outfitters (URBN). The teen retailer is posting its third-quarter profits after the bell today. Analysts are expecting a beat on earnings per share. Earlier this year, the Urban Outfitter’s Board authorized a share repurchase program allowing the company to buy $20 million in outstanding shares.