Jane King has today's top stories:
Broadcom Could Make Offer For Qualcomm:
Broadcom (BRCM) could offer to buy Qualcomm (QCOM) - Get Report for $100 billion. The Wall Street Journal says that offer could come today. Qualcomm makes chips used in smartphones. Broadcom makes equipment for networking and communications. This would be the largest chip industry deal ever and it comes as Broadcom announced last week that it would move its U.S. headquarters from Singapore to the United States.
Sprint and T-Mobile Called Off Merger Plans:
Sprint (S) - Get Report and T-mobile (TMUS) - Get Report have called off merger plans over the weekend, reportedly because they couldn't agree who would run the combined business. The companies had tried to merge to become a stronger competitor to AT&T (T) - Get Report and Verizon (VZ) - Get Report .
Saudi Crown Prince Cracks Down Corruption:
Saudi Crown Prince Salman is cracking down on corruption in the Kingdom. One of those arrested was Prince Alwaleed Bin Talal. He owns most of Kingdom Holdings, which has stakes in Twitter (TWTR) - Get Report , NewsCorp (NEWS) and other American companies.
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