we talked about a potential deal between broadcom and vmware. shantanu: adobe always looks for economy. what is happening in the market, there will be a number of companies. we are always judicious and thoughtful in terms of the acquisitions we made. we made a couple of acquisitions that turned out to be phenomenal in the collaboration space. we bought a company called frame io that allows anybody doing video collaboration to collaborate. we also bought work front that allows anybody creating marketing campaigns to be far more efficient. we are always looking at we are very pleased with the portfolio of products that we have. we will continue to take a look. we continue making sure there is great technology and a culture match. emily: i'm curious how bullish you are on the metaphors, how big a rolet will play in the -- how big a role you think it will play in the future, and what adobe's role will be in it. shantanu: the way that i describe the metaverse is it is increasing. things that people did in the physical world, increasingly they will do

broadcom makes it official, buying vmware $461 billion. we will have the details on how one of the biggest deals in tech reship -- reshape the cloud and chip industry, coming up. plus, more thoughts on that broadcom deal and how google and cloud customers are weathering the market turmoil. and how one startup raised a new round with all female investors. 75 of them. i will speak to heather fernandez and karen norton about how more companies can cheat -- change the gender balance of their cap table in one fell swoop. first i want to get a look at the markets, where tech stocks staged a comeback. add to, finally some good news? ed: you can see the nasdaq 100 up to .8% with the biggest jump for that index in a week. interesting, i was going through the bloomberg, first back to back gains we have seen in almost four weeks, showing how things have been recently, right? very much in the red. you can see that across the technology sector. if there hadn't been this selling across financial markets on your screen, the green indexes going into the n

alix: bloomberg broke the scoop yesterday that broadcom is in talks to acquire vmware. delete move surprises industry insiders. former vmware ceo spoke earlier from davos. >> i woke up a little bit startled. i had put 8 years of my life and soul into vmware. if it helps vmware the a more compelling, innovative growth story, then it is good. alix: anna banker broke the scoop last night. how far along are these talks? anna: is merger monday. they are in talks. it could be close, but we do not have the final details. what is the price, it's sandra? -- it said right? guy: what does mike del think? liana: vmware has done a ton of deals over the years. you might remember a tracking stock he had to buy out. his stake is $60 million. if broadcom was to pay a premium, he would pocket even more money. alix: what do we know about the timing? typically, if you have m&a after a soft, people say it is the bottom, does the selloff help the deal? liana: we have been trying to figure that out. i thought it would pause, but both stocks and broadcom sold off at the same point. you will st

the offer of 142.50 a share in cash, or about .252 broadcom shares for each vmware share represents a premium of nearly 49%, from last friday's close. before talks of the deal were first reported. broadcom will also assume 8 billion of vmware's net debt and once finalized this is one of the largest not just for broadcom but the largest technology acquisitions of all-time, and it is a big win for billionaire michael dell who owns about 40% of vmware shares and speaking of which he and vmware investors are very happy stock is up 3%, broadcom, well they're up too, 3.5%. it is a totally different story for kraft heinz investors at this hour. shares of the food conglomerate are dropping 6.5% after ubs downgraded it from neutral to a sell, and cut its price target to a street low of $24 citing high inflation. the stock right now is at 36.90. this is a bad day for kraft heinz. ubs says khc needs to increase prices this year but that will be unlikely in light of guidance from target and walmart. separately, private equity fund 3g which controlled craft since forming it in a 2015 merger with t

>> that being said, i think vmware, broadcom was looking at the recent slides in the software valuations. this is a good entry point. if we look at vmware two quarters ago, it would have been a 20% premium to a $60 billion valuation. we are talking about a 20% premium on a $50 billion acquisition. i would not be surprised if other companies are looking at their balance sheets and looking at some of the software companies or hardware companies as an opportunity buy. kriti: let's talk about acquisitions, in the world economic forum, i am curious about the china of it all, the geopolitics of it all. president biden is trying to secure lines. how is that play into the broadcom customer and the wider sector story? >> separating the conversation from m&a. the broadcom story and a part of supply chain story is a one that the supply remains tight. if we look at results from last week, we have seen revenues outlook missed because of the chip shortages. one of my concerns for next week's earnings is the impact to the hardware sales to dell and hp q. that is because of a shortage on the ship side.

guy: can i bring in the broadcom-vmware deal into this conversation? chips generally really cyclical. the broadcom deal is effectively going to make them 50 chips, 50 software. i'm wondering whether that is an indication as well as to maybe there's a kind of reawakening of the idea that ultimately, this industry is still cyclical. we are starting to see signs maybe of the supertight market beginning to ease. how quickly could the cycle reassert itself here? mandeep: clearly i think nvidia has that risk, but what nvidia has done well is layered software on top of their gpu's and some of the newer chips, and they keep touting the fact that even though they are not charging for the software right now, they have the potential to charge a license fee later on. they were looking to buy arm pop -- to buy arm, a $40 billion b -- $40 billion deal, but clearly they will look to add on to their chip functionality. guy: great to catch up. thank you very much, indeed. this is bloomberg. ♪ >> this concern, we have a kind of a perfect storm due to climate change. y

macy is leading the way. >> and broadcom makes it official, 60-plus billion-dollar deal to buy vmware we'll dig into the details >> apple under pressure, setting to produce fewer iphones this year than expected >>> the markets looking to extend yesterday's gains interesting action the last few days we mentioned the better mix of retailers. we've had some blowups the last few days but a few more winners today. s&p trading above the midday point of the session, closing above that for four straight days, the longest streak in a few months >> like the market was saying, yeah, i know to you think i'm in this bear market territory, but i'm going to show you wrong this week like my toddler when i tell him you're acting like a bear and he becomes all sweet and kind and cuddly it tries to defy what you think it will be but the curve is steepening rns yields tick down, lowest levels since mid-april. definitely some positive sentiment, at least it feels that way going into the weekend. you have some seasonality there, but good news. we'll take it. >> sure. we will. listen, we mentioned at the to

, broadcom agreeing to buy vmware. they have now confirmed the $61 billion deal, one of the biggest tech deals we have seen in quite some time. twitter shares up about 5% on the back of that amended elon musk that suggests he is maybe still sensually may be going forward with this deal. tom: thank you so much. more on the equity markets and particularly the good markets on the moment on the close this afternoon. futures up nicely. the 30 year bond ticks above 3%, which is one of those measurements, and i'm waiting for the vix with a 27 handle. we are also waiting for history to repeat itself and we are seeing that now with a chancellor of the exchequer of the united kingdom. lisa, you've got a better grasp on the headlines than i do. but back to the 1970's, maybe the 1980's, mr. sunak is going after big oil. lisa: rishi sunak saying he wants a temporary levy of 25% on oil and gas profits, basically saying it will be phased out when profits return to normal. that is what he said. he also said the more a company invests

vmware absolute storing up on the news that broadcom may consider a bid. the chipmakers moving into software, vmware vmware is a cloud maker -- a cloud software company. so a real blockbuster and of course vmware is one of those dell companies. as for the market on the day. we force that rebound friday. it felt like after the s&p 500 get the technical bear market briefly down 20%. it felt like that for a little while. the one thing that can be attractive for some of the dip buyers is valuations paid s&p 500 force pe at 6.4 times. slightly below the 10 year average. you can see it still above that. in that 2018 brief correction many bear market, 2008 and 2009. went below 10 times, actually a single digit devalue. nonetheless it's attractive here. >> intel is down 19% year-to-date, pat is the ceo, he's up a mountain, let's listen to a conversation with him. >> we welcome our television audience and radio listeners joining me now at the world economic forum is intel ceo pat gelsinger. the world has been preoccupied with this -- supply chain disruptions. sayin

broadcom and vmware jumping as they make their deal official. it would give broadcom more exposure to the cloud. our next guests says it faces significant regulatory changes great to have you with us. what are the barriers? >> so just taking a step back, you know, this is obviously a transformative deal for broadcom, largest ever, $70 billion, and it will really jetson their software business to a new level, right? when all said and done half their business will be software if this closes so they talked about 2023 time line from a closure standpoint the thing to keep in mind here is that a lot of the vmware partners when you look at vmware, it's very neutral as part of the infrastructure so they're partnered with amd and intel, they're partnered with invidia so when you think about that you've got vmware partnered with broadcom potential competitors that could certainly create conflicts of interest when you think about time to closure. >> so why do you think broadcom wants to do this if there are potential conflicts which would feasibly eliminat

shery: broadcom steals one of the biggest tech deals in history with the acquisition of vmware. u.s. futures under pressure after the s&p 500 extended gains. we have solid retail earnings and falling mortgage rates boosting sentiment. dollar general forecasting better performance later this year. we have two stocks soaring. what a relief from last week when we had walmart and target. treasuries mixed. the dollar consolidating around april lows. we continue to hold onto a little bit of gains. u.s. fuel stockpiles tightened so that helped prices. it's what was happening around chinese earnings boosting the broader market. the golden dragon index gaining more than 7%. the biggest day in over two weeks. alibaba gained 15%, the biggest day in over two months given that the revenue and profit also beat estimates. a similar picture for baidu. haidi: could this be the turnaround for chinese tech? when it comes to the start of australian trading, the upside around 1% will make it to the cash trading session looking to reverse the previous sessions losses seven tents of 1%. in new zealand

. >>> just getting word that broadcom has agreed to acquire vmware it equates about $16 billion cash and stock deal. broadcom has agreed to pay 142.50 in cash a little higher than the anticipated range around 140 a share, but roughly in that zone, so that is the now an official deal you know, the cash and stock, that whole mix is going to be determined later they have voted in favor of the deal >> there were reports earlier, faber was reporting at that it could happen as early as today vmware was up 25% on monday when the reports were first out >> the premium has been built in and even broadcom, shares have held up okay people are buying into this strategy, because they're rolling into a lot of tech businesses, software, hardware, storage. they expect to maintain the current dividend strategy. so i guess that's something. >> does this approach make sense to you we asked stephanie link about it earlier this week and kind of raised the concern about them being serial acquirers and wanting assurance. >> it makes sense to the degree the market allows them the question around broadcom is

. >>> to the other top headlines a potential deal in technology broadcom in talks to buy vmware. it is a market value of $40 billion. the apparent talks with the two come six months after dell spun off 80% stake in vmware. broadcom down this morning look at vmw. it is up 19% right now >>> saudi arabia's sovereign wealth fund taking a stake in the fund owned by the prince the public investment fund paying over 1.5 billi$1.5 bstak in the holding company this is after being swept up in the anti-corruption campaign four year ago where he was held in a hotel for months with other officials and business men. >>> and new concerns for the economy. the national association for business economics survey lowered the growth outlook for the year the median gdp stands at 1.4%. down a full percent from the february survey and more than half of the economists polled believe the next recession will begin in the secondhalf of 2023 let's talk about that and get to the markets with the dow coming off the longest losing streak since 1923 and the s&p less than 1% away from being down 20%. that would b

. ♪ maria: your morning mover vmware and broadcom. vmware soars 19%, talks of broadcom acquiring vmware in a potential cash and stock deal. the deal will diversify broadcom's business away from semiconductor and into enterprise software. could be one of the biggest deals for both companies. >> "mornings with maria" davos coverage, sponsored by invesco. maria: markets this morning are higher after last week's selloff and a sell for multiple weeks, dow industrials up 159, nasdaq higher by 52. joining me is wealth consulting group jimmy lee. joining the conversation all morning long is defense of freedom instituted for policy studies spokes american, angela a morabito and chief investment officer and ceo, nancy tengler. thank you for being here. jimmy, are you buying this little relief rally that we're seeing this morning after a seven weeks of declines for the s&p 500, dow industrials down eight weeks in a row. >> we seem to be getting support right here at a around official bear market territory for the s&p 500. so we're actually waiti

we don't always think about software when we think about broadko broadcom, but then vmware would add 2.5 billion if they were to combine. then you end up with broad com. it's pretty balanced chips and software in sort of a cloud and multi-cloud era where they would have more, not just with the hyperscalers, carl, and i think it's that type of radical transformation of a model that we have to think about here. >> yeah. a lot of people asking about strategic rationale this morning, jon one is, is it as you say sort of a continued migration from chips to software? is it because vmware is cheap relative to peers, or is it a sign of a hot tans worry about a slowing environment days after sysco talked about potentially that >> well, let's get some perspective. joining us none is ggb's glen solomon. glen this, would be an even more dramatic than we've seen in the past transformation of what broadcom is with a leg up in soft weigh and multi-cloud era does this make sense in the bias is always to make a case for why these things make sense, but what's the risk? >> well, look, jon, i think, yo

semiconductor are complimentary with vmware. piper sandler said large customer base overlap. there are complimentary product areas as well. and web bush saying similar things in terms of a sensible deal for broadcom not many questions from the analysts out there. which is good. heard there would be a good synergy number but not sure what that is at this point. >>> we were talking about buffett there was a down krad grade of hewlett packard, it was mostly about the pc cycle and what we've been hearing from that part of tech. production issues, stock is flattish at this point but it's really, i would argue, has been benefitting from a bit of the buffett halo effect very cheap stock, has been for a long time. when you talk about his stake in it, plus the fact that they've just massively aggressive buy back plans that they seem like they're going to stick to, it seems like that overrides some of the short-term fundamental stuff. just negative now by one-fifth of a percent. >> twitter shares are down another 2% $37.56 you can do the

chipmaker broadcom is aiming officially to announce the plan to buy cloud company vmware on thursday. according to a tweet from a "wall street journal" reporter. apparently the journal says the chip maker is discussing around paying $140 a share for vmware or about $60 billion total. that is a big number, folks. we heard 50 billion. it apparently will be 60 billion according to the journal. we're learn more come thursday. something tells me that should happen earlier than that. check vmware shares on the screen. up 24% that would a single day record. market cap of vmware. that pushes it up to 50 billion-dollar. if there is that merger monday news investors are trying to gauge a stock market bottom at the same time. the vix has not reached a level we have seen in previous is selloffs. march of 2020, in 2008, the vix crossed the 40 mark. we're not there yet. we're looking at 28.50. joining husband ken vin walsh, firm aum assets under management. 4.5 billion. kevin, are you looking to sigh if the vix is bottomed or another metric you're looking at? >> liz, one every three trading days th

. >> you fended off an acquisition pitch from broadcom this morning. broadcom may acquire vmware. do expect this will be the future, to have scale and sustenance we you need -- sustenance, you need to consolidate? >> it is for broadcom to column -- a comment. for me, they are more of a softer company with some of the acquisitions in the past and i think vmware is a software company. we are going in a different direction. i think we will continue to be a semiconductor company focused on the growth we have in this industry. especially at the edge. and we will continue to see not consolidation but conversions of all of those opportunities. >> how much are you trying to move away from relying on one region, on taiwan, for example? or some of the other major semiconductor producers as you focus on hardware. >> this is a great topic of conversation. what we saw over the past couple of years i think globally, if there is a silver lining, we saw semi conductors are important. as chips are going in pre-much everything. even as we saw shortage of semiconductors, people are buying more goods

announced it is acquiring vmware for $61 billion. kristina partsinevelos joins us with more. what does this tell you about the state of the semiconductor industry given this is a diversification into enterprise suft wear? >> i guess this pretty much tells you we need to diversify away from semi conductors and head into the software space, especially given the ceo saying that the new company, which would be rebranded under vmware would have half of its annual revenue come from software maybe there's not as much growth in this space as we believed we talk about everything becoming connected and yet there's downgrades that are happening. i was on the call at 8:00 a.m. this morning and the ceo said that you are probably, quote, dreaming if you think this current trajectory will continue for the semiconductor space. more specifically if you look at nvidia, they had their q2 guidance lower than expected and you had the stock fall then several semiconductor equipment makers like applied materials, lam, all of them had guidance lower than es

broadcom agreed to buy vmware for about 61 billion dollars. the transition represents about a 41% premium to vmware's valuation before may 20. that was the last trading day for bloomberg reported a potential takeover talk. the u.k. will impose a so-called windfall tax on the profits of oil and gas. the money will be used to help fund at least $6.3 billion support for that's facing a cost-of-living crisis. the chancellor of the exchequer rishi sunak said the 25% tax would be temporary. senior ministers in the british government have not opposed a special levity -- a special levy on energy firms because a veritable heard investment. the chinese premier warned of dire consequences if they don't prevent the economy from getting worse. he told thousands of local officials a contraction in the second quarter must be avoided. his comments were more candid than the official readout published by government media. the massacre at a texas school has revived discussions of so-called red flag laws as one potential compromise between democrats and republica

broadcom shares down about 5% on the day and vmware up about 22% in the premarket. siga technologies also moving. these companies that make antiviral drugs, a lot of talk right now. those shares up about 26%. tom: thank you so much. "the close" this afternoon as well, a more constructive market. this is an important conversation. each and every year at davos, there is someone who owns the valley. usually it is some rockstar that shows up by helicopter or maybe some famous model that i don't know their name. you know, someone like that. this year's rockstar is joseph stiglitz, the nobel winner for the mysteries of information. someone at columbia who has talked and written about our discontents. d with the challenges of globalization and others, truly joe stiglitz is the attendee this year at davos. if you wrote globalization and its discontents today, what would be different? joseph: i think i was mostly focused on discontent in the south, and needs of upland countries -- the developing countries and emerging markets. since then we have had globalization of global d

lisa: i guess i ask this because broadcom is buying vmware. vmware was thought of as a possible acquisition target for you. would you think about a competing bid or possibly having a similar type of acquisition? chuck: that went sideways from supply chain in a hurry, didn't it? [laughter] let's talk about the component shortage. the reality of the supply chain situation is that every company, every electronics company is having a redesign free geographic resiliency, resiliency within the design of your product, redundancy, security. that's what we are going to be embarking on, and it is going to take another year or two. tom: i'm not going to let you off on vmware. i remember and esteemed ceo saying when we make an acquisition, we are acquiring engineers. in the new trauma, yes in retail, but in the new economy that we are in, are we going to see transactions and combinations to coalesce the thing you need most, which is engineering? chuck: from an m&a perspective, the question that people are asking is, given evaluations have finally come dow

. >> guys, speaking of this, broadcom and vmware, yesterday, i think it was the journal or dow jones reporting 140 a share. that is from what i'm hearing protect as well. again, it's roughly. could be a bit more or bit less. part of it will depend on the performance of the stock it's roughly a 50/50 cash stock deal that will give people some sense here in terms of what we're talking about. again, 50/50 cash and stock. and that is new in terms of at least what people want to understand maybe we want to actually show them at the bottom of the screen as well. but, you know, another question, of course, if they do announce this deal, will be whether, in fact, and how long it takes to get antitrust approval you're going to need china you're going to need -- some people remember, well, that it was not successful in buying qualcomm in part because treasury stepped in and said no. that doesn't appear to be in play here. but china certainly will be important. u.s., you wouldn't know. it wouldn't seem to be an issue in infrastructure software, but could take at least if not more than a year to

broadcom agreed to buy vmware for $61 billion, one of the largest tech deals of all time. let's talk about this deal. it is fascinating. this is not the first time. you are seeing nvidia do the same. is this going to be the start of a new trend when i come to chipmakers trying to become more insulated from the boom and bust cycle? >> thank you for having me on. i think broadcom is unique in the sense that they embarked on this software diversification journey in 2018 as it relates to the acquisition, the semantic enterprise acquisition. now with the vmware deal, and even a 50-50 split from a trip to a software dynamic, if you look at the other software acquisitions the chipmakers have made, it is more of an add on functionality on chips and it is going to be following these longer, broader trends from a jamaican perspective whether it is ai software or machine learning software. from a chipmakers standpoint, someone like nvidia is going to be a chipmaking -- follow h a making cycle. kriti: i'm glad you brought up and video. we brought up the china piece of the retail equat

speaking of finding value to buy, broadcom has agreed to buy vmware for $61 billion, ceiling one of the largest tech deals in history and advancing the chipmaker's quest to become a force in corporate software. joining us is crystal tse, who is closer to our times on this week. crystal, how much of this is a precursor to more deals in this space, given the destruction we have seen in many tech shares? crystal: yeah, you know, public stock market is coming down, especially hitting tech extremely hard. we have heard that now the shopping list is going to be in the public market. the lower we see stocks, the more likely we will see public market m&a. we have seen that with microsoft looking into activision. we have seen twitter, a lot of these deals were optimistic. of course, elon musk has his own thinking. but we can see a lot more people, especially financial buyers, trying to take advantage of this environment. manus: crystal, thank you very much. $61 billion there. let's see one other -- what other mega deals get done. coming up, starkly bound. s&p 500 set to see its first weekly gain

. >>> shares of vmware is in talks to be acquired by broadcom it could be one of the largest mergers ever in the tech sector. frank holland joins us frank, broadcom is a serial acquirer are tries to be why vmware >> just some news out from dow jones, according to dow jones, broadcom is discussing buying it for about 140 a share to make this a $60 billion deal, up from the $50 billion that the financial times reported just a few days ago now to answer your question, it's really a big bet on the hybrid cloud that's a combination of having data on site totally controlled by a particular company in addition to having data and applications on the public cloud. for large enterprises, think of big bank or multi national corporation. that's the reality for the foreseeable future vmware has 50% of the virtualization market where a company takes your on-premise workloads and just maximize them and make them more efficient, make them better and just work with what you already have and make that better so if you believe that economic slowdown might be coming, a slowdown in i.t. spending might be

sources tell bloomberg that broadcom is in talks to buy vmware. the chipmaker has been searching for a big acquisition. the ceo has embarked on a series of purchases as he looks to expand the business into one of the largest and most diverse in the industry. vmware has a market around $40 billion. airbus's corporate jet division is more optimistic about this year, even as the war in ukraine and china's covid lockdowns weigh on sales. they had a slow couple of years for orders of its newest business jet model, with almost all travel curtailed. but sales are now trending upwards, with five orders so far this year. david: let's have a look under the hood of this engine that is sputtering. looking at a benchmark. barely off a fraction of a point. about .1%. as you can see, some of the big chinese tech names are pulling this one down. alibaba is down about 3%. tencent, 2%. by the way, there's a big shareholder meeting today from didi. just watch out for that. in terms of the bad options in front of this company, what those options look like. that is wa

chip maker broadcom is in talks to acquire vmware and what would be a massive deal. be aware currently has a market valuation of about $40 billion. an acquisition would put our, that's would put broad -- would put broadcom into a highly specialized area of software. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. by ritika gupta. this is bloomberg. ♪ at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. how will your business adapt to change? designed to help you keep more of what you earn. you could hire an office full of peyton mannings. what's up, peyton? good morning, peyton. hold for peyton. they'd huddle.... welcome to the peytonverse. such a visionary. game plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workda

to broadcom at quite a significant premium. michael is just -- he's rich, getting richer all the time. dell technologies had a very strong quarter revenues were up 16%, growth across infrastructure solution, client solutions generated first quarter operating income of $1.6 billion. that was 57% above a year ago, and what they also say is record nongap operating income, $2.1 billion. that was up 21%. a very positive response there warren buffett chose to go hpe dell is not bad and hasn't been for quite some time. that's been performing strongly. the stock is call it flat over the last year. in this market, flat is good >> this stock price is helping hpe as well, up 5% hpq, not related, up 6%. >> zscaler and autodesk, a couple other success stories today in tech. apple, 10% off of the may lows so we're up 4,100. let's get to bob pisani. hey, bob >> 300 points, carl. we were 3,810 six days ago on the s&p 500, 4,100 right now that's a remarkable rally, 7% or so i want to show you the sectors because this is a very good indication t

chipmaker broadcom is in talks to acquire cloud computing company vmware and what could be a massive deal. vmware currently has a market valuation of about $40 billion. acquisition would put broadcom into a highly specialized area of software. pfizer and biontech say their covid vaccine punted strong immune response in children under the age of five. that is likely to pave the way for toddlers to finally get immunized. they say the regimen was 80% effective in children six months through four years old. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> over the next year, i am not that worried. i'm always have 15% for a recession. maybe i am at 20% now for the next year, but not much higher. when you look after this year, that is when i get more worried. that is when more of rate hikes start to kick in and affect the economy. tom: we welcome all of you to our windy performance here at the world economic forum. the wind is going this way right now, li

channel for vmware, bravo with sale point. i think you'll see a lot of private equity and strategic m&a that happens now you have a lot of companies that have been quiet, haven't done m&a for a while. expect it to come back to the market that's probably going to be the first sign the second thing that our clients want to see is numbers cut and acknowledge the environment is softening that will get -- that will release the ability for more clients to come back and want to buy. >> brent, we'll see how this migrates from some of the smaller players as you point out to megacap in the coming weeks appreciate that. brent thill joining us from jeffreys >>> exxon holding its shareholder meeting later today, what to expect with the shares up a little bit. take a look at the futures, as we said, coming off that upside reversal for the dow, but the sd sllnaaqti at the lowest level since november of 2020 you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed

sources tell bloomberg that broadcom is in talks to buy a vmware. the chipmaker has been making a series of purchases as it looks to expand its business into one of the hardest and most diversified in the industry. vmware has market value of around $40 billion. a plane load of more than 70,000 pounds of baby formula has arrived in the u.s., starting an emergency program to alleviate a national shortage. the government says more formula will start arriving in u.s. stores as early as this week. shortages due to supply chain snarls were worsened in february when the biggest manufacturer issued a recall and closed a plant after a small number of infants fell unwell. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus? dani? dani: we were just monitoring president joe biden, in japan meeting with the prime minister. you can see them both, they are speaking at the palace. again, in tokyo. we will listen in in a moment. readout we've gotten so

. >> broadcom has agreed to buy cloud computing company vmware for about $61 billion. the move makes the chipmaker a bigger force in software and one of the largest technology deals of all-time. the transaction represents about a 44% premium to vmware's valuation before may 20. that was the last day of trading before bloomberg reported a potential takeover. workers at apple parts supplier -- in shanghai have clashed with guards. that's according to people familiar with the matter. media reports over the last we cap highlighted frustration among the workers, who have been trapped in a bubble due to mounting covid infections. --- and apple representatives declined to comment. that's your bloomberg business flash. tom? tom: thank you. alice atkins. the s&p 500 set to see first weekly gain after the eight weeks of losses. we will discuss retail numbers and investor sentiment, next. this is bloomberg. ♪ ♪ >> we cannot really think about energy without also thinking about energy security. >> you have a world that's 100 million dollars or more with basically no -- >> to g

broadcom has agreed to buy vmware for 61 billion dollars, turning the chipmaker into a bigger force in software. one of the largest technology deals of all time. the transaction represents a 44% premium to vmware up off he asked value -- vmware's value. >> a project is set to be the biggest chinese listing in the u.s. since didi, the deal will value the company at $3.8 billion. we will more to come. this is bloomberg. ♪ xfinity mobile runs on america's most reliable 5g network, but for up to half the price of verizon so you have more money for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets. and not just for my shows. switch to xfinity mobile for half the price of verizon. new and existing customers get amazing value with our everyday pricing. switch today. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on

chipmaker broadcom is working on a deal to acquire cloud service provider vmware for $60 billion. according it the w the "the wall street journal" that the cash and share deal is worth 40 bucks a share. that is 40% premium of vm shares on friday. you can see the shares are down just under 2 1/2%. if this deal goes through it would be one of the biggest takeover deals of the year and one of the deal that happens despite the volatile market. "the wall street journal" also pointing out that mergers are down 31% from the same period last year. now broad come -- broadcom makes chips used in mobile phones and telephone networks. acquisition of vmware will make it access to data centers. neither company responded to our request for comment. neil. neil: thank you, lydia, for following all the all the developments. we have the contagion thing to worry about, exactly where we're going on the virus. along comes this monkeypox thing. out of the blue comes from the world health organization it is an issue. it is happening in countries across the globe but for the time-being they said it is con

broadcom has officially announced plans to buy vmware. how much is that deal worth? >> that's a $61 billion deal and we kind of knew this was going to be announced today. we had several reports out earlier this week, and that's a 30% premium that broadcom is paying up here and this deal also includes a go shop clause which i found interesting so what that means is that vmware can go around and maybe shop for a better deal, price, better suiter. now this is one of the largest tech acquisitions ever and that's slightly less than that $68 billion microsoft activision deal, but we know broadcom and apple suppliers have been doing really well the last few years and they've been looking to buy something in the last few years including that hostile bid for qualcomm which they said no thank you, we'll go on our own. ashley: yeah, interesting though , both those stocks are not bad. let's take a look at apple. that stock is down 1.25, they're raising wages? >> yeah, that's right so they're raising wages by 45%, so you're looking at 22 bucks an hour for the new staff, and they'

. >>> shares of vmware surging broa broadcom is in talks to buy it it was spun off from dell technology last year michael dell has a 40% stake it has a market value of $40 billion. >>> our next guest says the market selloff to be entering a new phase. for more on that, let's bring in muhamed el-erian when you say a new phase, is this the good new phase or bad new phase? >> the worst new phase becky, the question is why haven't we had more of a bounce in what has been a relentless period of seven to eight weeks of declines? the answer is because we continued to get bad news. think of friday ten days ago we had a wonderful bounce. then the new week. then comes walmart then target. suddenly we have legitimate concerns of growth and earnings. we need to get the worries out of the way before we can get established a good bottom and get sustainable bounce >> looking at stats and the numbers, the dow did something last week that it hasn't done in almost100 years. 99 years since the dow ended down for eight weeks in a row. maybe that goes to your point. this is a slow and painful process. stead

. >> i call it a hybrid cloud company, so vmware, started by michael dell was spun out last year in a tax-free deal. broadcom is an apple supplier based in singapore, we have no specifics on the offer price but given that vmware is valued at $40 billion and there's usually a premium in these type of take over offers, that's pretty rich. now we know that broadcom has been trying to buy something for the last few years and that includes an offer to qualcomm which of course qualcomm said no thank you, they also tried to buy a software company but look at the other chip stocks down on this news especially when the competition is ramping and they have money to spend getting aggressive to get bigger. also global chip shortage has been great for these chipmakers a booming business but a philadelphia semi chip index down by a quarter so far this year. now i do want to note also, if you were talking about maybe a short-term bottom that i heard you speak with kevin keith fitz-gerald, did you see that rally on the last 30 minutes trade of friday, heading into a weekend as well the fact that you