GE slashes dividend by half, Mattel surges on Hasbro takeover talk, Qualcomm rejects Broadcom offer

Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.

General Electric (GE) announced some big changes Monday morning. The struggling industrial giant and Dow component is cutting its dividend by half, to $0.12 a share, as it looks for ways to hold onto cash. GE also lowered its earnings target for 2018 and announced a broad restructuring, in which it will keep its health care, aviation and energy units. This as new Chief Executive John Flannery laid out a new strategy for the company during its investor day.

Mattel (MAT) shares surged following new reports that Hasbro (HAS) made a takeover offer for its rival. Analysts are skeptical about the deal because of antitrust issues. The buy would also put Hasbro back into the business of owning toy factories which hasn’t been the case for many years. Hasbro is also higher on the news in early trading.

Brookfield Property Partners (BPY) is buying mall owner GGP (GGP). Brookfield will pay $14.8 billion, or $23 a share, for the remainder of GGP it doesn’t already own in a half-cash, half-stock deal. The acquisition is expected to help GGP add features to its malls to attract foot traffic. Shareholders must still sign off on the buyout.

Qualcomm (QCOM) has rejected Broadcom’s (AVGO) $103 billion bid after saying the offer undervalues the company. Qualcomm’s CEO said this morning he believes his company can create significant value for shareholders on its own. For its part, Broadcom has said it’s open to launching a proxy battle.

Boeing (BA) has wrapped up its deal with Emirates. The Dubai-based carrier has committed to buying 40 of Boeing’s Dreamliner 787s in a deal worth more than $15 billion. It’s seen as a major blow to rival Airbus. This is the second time Airbus has lost out on selling its jumbo jet to Emirates.

 

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