Here are the companies the Yahoo Finance team is watching for you today.
Broadcom (AVGO) has cut a major deal to put its components into new Apple (AAPL) products. The agreement will last into 2023, and Broadcom says it could generate up to $15 billion in revenue. That's on top of existing agreements to provide wireless parts for Apple phones, laptops and other products. It's unclear if this is part of Apple's expected plans to launch a 5G phone as soon as this year.
The U.S. is cracking down on the online sales of counterfeit goods and warning e-commerce giants like Amazon (AMZN) that there will be penalties for companies that don’t help weed out fakes. The Department of Homeland Security is set to release a report that will outline specific rules and goals for combating counterfeit products.
Uber (UBER) and Nissan (NSANY) are linking up in the United Kingdom. The ride hailing giant will offer drivers in the U.K. a discount on Nissan’s electric cars. This offer is open to all U.K. drivers, but is mostly targeted at workers in London as Uber faces a potential ban in the city. This is also part of Uber’s larger push to ensure that all of its vehicles are electric in London by 2025 to combat air pollution in the city.
Another startup, backed by Softbank (SFTBY), is reportedly running into trouble. Reuters says CloudMinds, which develops A.I. and cloud robotics systems, is slashing jobs as it burns through cash, and it reportedly will be shutting down an office in Silicon Valley. SoftBank famously backed WeWork, and took a $4.6 billion hit when that company's IPO plans imploded.
Bayer (BAYN.DE) may be close to a settlement. According to Bloomberg, the company may be ready to dish out $10 billion toward claims that its RoundUp weedkiller caused cancer. It's estimated that there are at least 85,000 related cancer claims in the United States. The case has wiped out about $18 billion of Bayer's market value.