Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.
ExxonMobil (XOM) is keeping a close eye on Egypt. Reuters is reporting that the world’s largest listed oil producer recently held talks with Egypt’s petroleum ministry about investing in its its offshore oil and gas reserves. If the two team up, Egypt would get an economic lift while Exxon could boost production.
Broadcom (AVGO) is stepping up its hostile bid to buy rival Qualcomm (QCOM). Today Broadcom is set to propose a slate of 11 directors to replace the entire board at the semiconductor. Last month, Qualcomm rejected Broadcom’s $103B cash-and-stock bid saying it undervalued the company.
21st Century Fox (FOXA) has reportedly revived talks to sell parts of its business to Disney (DIS). The House of Mouse is looking to buy some of Fox’s movie and TV businesses as well as its stake in UK TV provider Sky and India’s Star TV. Founder Rupert Murdoch is expected to decide whether or not to pursue the deal by year’s end.
Nearly 3 months after filing for bankruptcy in the US, Toys ‘R’ Us says it will close at least a quarter of its stores in the UK early next year. Hundreds of job cuts are expected. The store closings are part of a restructuring deal with its creditors in the UK.