Qualcomm board ousts co-founder's son
Late Friday, Qualcomm's board said it will not renominate Paul Jacobs to the board, following reports that the son of Qualcomm co-founder Irwin Jacobs wants to take the company private. Until recently, Jacobs was Qualcomm's executive chairman, and before that he was the company's CEO.
Investors bailed out of Qualcomm stock this morning, sending it down to $58 per share, its lowest level for the year so far. Until last week, many Qualcomm shareholders were hoping Broadcom would buy the company for $79 per share, but then President Trump took that deal off the table with an
executive order
. Apparently, many investors are unwilling to wait around for a potential privatization bid, an alternative that
analysts were discounting
even before the board ousted Jacobs.
Towerstream hires bankers to explore options
Fixed wireless provider Towerstream has hired Bank Street to explore strategic alternatives, saying the engagement may or may not result in a transaction. The company is also shifting its strategy to focus more on carrier customers. Towerstream says its fiber could reach 400,000 buildings in America's largest cities, but it is only serving 2,800 of those buildings right now.
Verizon: Tell Me You Love Me
Verizon says subscribers who join its rewards program can expect special experiences at concerts this year, including Demi Lovato’s
Tell Me You Love Me Tour
, Justin Timberlake’s
Man of the Woods
Tour
, Luke Bryan’s
What Makes You Country
Tour
, and Maroon 5’s
Red Pill Blues Tour.
The company says
all Verizon Up members will get access to a "Members Lane" that provides "early and expedited venue entry." All paying subscribers are eligible for Verizon Up, the company said. Verizon has more subscribers, lower churn and better network performance than any other U.S. carrier, but it trails T-Mobile US in
customer satisfaction.