broadcomm advanced more than 5%. dominic chu has more on this potentially massive acquisition. >> reporter: it has the potential of being one of the biggest merger deals ever in global technology. according to sources familiar with the matter, broadcomm is looking to buy qualcomm. both companies are in the business of computer chips, circuits, wireless technol th sort of thing. the deal could value qualcomm at $400 billion, making it the same size as broadcomm. first of all, it would combine two of the world's biggest semi conductor companies, which would likely trigger antitrust concerns by regulators. second, both companies are in the middle of making other big acquisitions of their own. what would happen to those potential deals? and there's a political angle as well. broadcomm is based in singapore. but just yesterday, broadcomm's ceo stood alongside president trump to announce that he was moving the company's headquarters to the united states. >> america is once again the best place to lead a business with a glo

broadcomm may offer more of its own stock. the potential move represents broadcomm's eagerness to merge with its rival, even saying that it is not opposed to launching a takeover battle. broadcomm is preparing to submit a new slate of nominees for qualcomm's board. qualcomm's shares were up 2% to $68.13. shares of broadcomm finished down marginally to $275.37. >>> earlier this year, we brought you a series called "business behind bars." and it was then that you met a convict at san quentin state prison who was learning to code. months later, life for that now ex-convict is very, very different. jane wells has that story from saci >> can i ask what your number is? >> t-31014. >> reporter: he's a convicted murderer who spent years in prison. >> it's amazing to think that in a few short weeks, i'll be walking out of the gates as . few short weeks f later, chris should y did leave san quentin. he's now a software programmer at a san francisco tech company. >> the code i wrote will work on any device. >> reporter: even he can hardl

of its own stock broadcomm, remember, had previously made that $70 bid qualcomm did finish today up% at 68 bucks per share. paul jacobs, qualcomm's executive chairman, says the offer significantly undervalues his company. analysts who covered broadcomm said they thought qualcomm's board would up the offer if the deal goes through, it would create a tech powerhouse, the third largest semiconductor compa company behind intel and samsung. qualcomm's director nominees didn't respond to request for comments >> thank you very much, josh lipton in san francisco. qualcomm's stock doesn't necessarily trade like the bid is going to be raised significantly at all it doesn't even trade up to the previous offer >> qualcomm has a litany of licensing issues and they have legal issues, i think that's what's holding the stock back. >> remember what happened to pfizer, it blew up books across the street i think people are being very cautious >> there's no regulatory issues. here's the risk to this whole idea of bringing jobs back, broadcomm coming back here they buy qualcomm, they're cutting jobs, no

, marked what could be the biggest merger in the ship space ever, broadcomm ending the day more than% some stocks are surging more than 100%. now we're starting to fade the move, why the change of heart? >> it's interest that a mega deal comes back. a lot of viewers understand that qualcomm is already in agreement to actually purchase nxpi which was another mega deal. so this is broadcomm coming in and kind of shaked that thing up a little bit m&a was a big driver this sector, 2015, 2016, there was hundreds of billions of dollars in the semiconductor space the rumor of this deal is kind of interesting especially when the sector has massively outperformed technology as a whole, the etf that tracks the semiconductor sector is up 43% year to date, the s&p is up 15%. to me, i think you really want to look out to some sentiment, guys nvidia reports next week, the implied move is 8% in either direction. it's $10 million on a stock up 100% year to date. things are getting a little frothy real quickly, we've been talking over the last month, intel is a stock up 30 something percent in two mo

following news of the potential tie—up between broadcomm and qualcomm, cnbc has compiled a list of thehistory. dell's $65 billion purchase of emc tops the list, with nortel‘s internal buyout following close behind. and fortune magazine is looking at a research note from goldman sacks, which predicts that the price of bitcoin could head towards $8,000. the cryptocurrency has surged more than sevenfold this year. and, don't forget, let us know what you are spotting online. use the hashtag bbc—the—briefing. that's it for business briefing this hour. but before we go, here are the markets. we were referring to asia up, the all ordinaries we were referring to asia up, the allordinaries up, and we were referring to asia up, the all ordinaries up, and let's focus on brent crude, that says down, though the message is up, very much, with a sharp jump events though the message is up, very much, with a sharpjump events in saudi arabia. that's business briefing. the foreign secretary borisjohnson is expected to call his iranian counterpart this morning, after being accused of making a mistake that

broadcomm limited is a fortune 100 company, one of the really great, great companies.d parts. they employ over 7,500 american workers in many states across our country. we're looking forward to seeing that number grow very substantially, which is now anticipated to do. he'll move back to the united states and to the united states is something very, very special and very important. and you've been seeing this happen with numerous companies, and at a minimum, expansions and sometimes plants. with this commitment, more than $20 billion in annual revenue will come back to our cities, towns and the american workers. today we're joined by some of the incredible men and women from their manufacturing plant in the great state of pennsylvania. that's a state i like very much. you know that, right? i love pennsylvania. i went to school in pennsylvania. you're skilled in your craft, take pride in your job, and because of you our nation's trademark "made in the usa" is respected all over the world once again. we're telling people, made in the usa is a big deal now. we're bringing

we also told you that broadcomm made an unsolicited massive $105 billion bid for qualcomm, the chip maker. and who could forget recent reports that cvs health may look to do a deal with aetna? the deal talk was enough to send the dow to an all-time high, up eight points at 23,557, and et cetera sixth straight day of gain nasdaq went the other way, down 18 2/3. but what could all of this merger talean for the broader market rally? dominic which did y takes a loo. >> reporter: it seems there's a new mega merger possibility being talked about every day. the are hosts of reasons why companies are looking towards bigger acquisitions given current market conditions. >> companies are seeking greater industry penetration, new geographic markets. they're a bit under pressure by shareholders and activists, also the relative ease of financing. companies have access to credit lines from banks. they have high cash levels on their balance sheets, in aggregate of over $2 trillion among s&p companies. also their stock prices as a buyer are at very high levels. >> reporter: when companies are already that

just by the introduction of our bill, i was sitting in the oval office last week, a company called broadcomm, created in america, but because of our tax code forced them to leave america to try to be competitive. they looked at this bill, they told me a couple of days before. you realy believe this bill is going to pass? we will come back. when they come back that's $20 billion in revenue each year. they'll spend another $3 billion each year on r&d. then they'll spend $6 billion in manufacturing. we have had so many discussions about how to breng manufacturing jobs back, that's why i'm excited about this bill coming to the floor next week. i yield back. mr. hoyer: i thank the gentleman, i dent share his enthusiasm for this bill which i think will be harmful, explode the debt and be a bait and switch on the middle class, where they'll get a tax cut early and a tax increase later on. but is the gentleman aware, he talks about growth, that in the comparable nine months of 016 through the same months in 2017 under trump, is the gentleman aware that we're -- there were 326,000 more jobs created i

the value of the stock is being fought over >> does it go higher regardless of whether or not the broadcomm bid comes through, higher bid? >> it's established a floor. it sparked awareness of where these guys have core businesses. >> the qualcomm call worked out pretty well. tim, why don't you head over to the plasma and give us your best shot >> let's talk about a bank financials had been a very interesting place to talk about and a lot of people, no matter what they've felt, have said weakness is the right thing to do let's talk about bank of america. that's my fast pitch i want to get into the story here bank of america, like a lot of the financials, has done almost nothing over the last six months if you look at the stock, bac is flat since february. i think there's three primary facts here that i think we can look at. there we go. bottom line is, the company first of all is benefiting from cost cutting they have done an enormous job of cutting savings $620 million in the first quarter. their efficiency ratios are up to 59% it's only going to get better. the increased capital returns ar

broadcomm bought avago -- avgo -- one of many acquisitions the company has made.dcom is changing operations from singapore to the united states. there have also been headlines xpgarding an xp -- n semiconductors. qualcomm is attempting to buy nxp, but there has been resistance from shareholders. this might now be a deal that doesn't occur, if the other deal does. we have been -- hearing from various outlets the two companies are in talks. the two are aiming to finalize details of the deal in december. a deal price could be significantly above $200 a share. es, we have been watching them in the wake of these headlines -- we are seeing a bit of a down movement, two thirds of 1%. it is interesting we could see two pretty sizable deals at the end of the year, when creating a market cap at about $200 billion, and the other we could see a deal price of over $60 billion, which would boost the value of this year significantly. scarlet: thank you. julia: what'd you miss? people resumed work after hurricanes harvey and irma in october. has been some debate about what is goi

broadcomm is reportedly planning a bid for qualcomm in what could be the biggest deal ever in global technology. >>> you're hired. the job market rebounds. but there's more to the latest jobs report than y might think. >>> how a watch made from wood grew into a growing business. those stories and more on "nightly business report for friday, november 3rd. >>> good evening, everyone, and welcome. an enormous deal could be taking shape that could transform a part of the technology business.

just yesterday i was with a company, broadcomm, we went into the oval office, i had worked with this company for quite some time, they started in america. bell labs was part of it and others. three kind of companies got together. they're technology. they were building. they were growing. what they found was, america's tax code was so burdensome on them that for them to compete around the world they became a company that domiciled in singapore. talking to them just the last month or so, laying out our tax bill, they said, you know what, we're so confident in you passing that, that we're going to announce we're moving back to america. they have $20 billion a year in revenue. they invest $9 billion every year in r&d and manufacturing. those manufacturing jobs we care so much about. so yesterday we were sitting in the oval office, this is exactly what the c.e.o. said. you know what he talked about? he grew up in singapore he said when i turned 18, the greatest engineering school in america gave me an opportunity, m.i.t. but my paraphernalias did not have wealth but they gave me a scholar

just by the introduction of our bill, i was sitting in the oval office last week, a company called broadcomm, created in america, but because of our tax code forced them to leave america to try to be competitive. they looked at this bill, they told me a couple of days before. you realy believe this bill is going to pass? we will come back. when they come back that's $20 billion in revenue each year. they'll spend another $3 billion each year on r&d. then they'll spend $6 billion in manufacturing. we have had so many discussions about how to breng manufacturing jobs back, that's why i'm excited about this bill coming to the floor next week. i yield back. mr. hoyer: i thank the gentleman, i dent share his enthusiasm for this bill which i think will be harmful, explode the debt and be a bait and switch on the middle class, where they'll get a tax cut early and a tax increase later on. but is the gentleman aware, he talks about growth, that in the comparable nine months of 016 through the same months in 2017 under trump, is the gentleman aware that we're -- there were 326,000 more jobs created i