The Washington Post - USA (2022-05-27)

A22 EZ RE THEWASHINGTONPOST.FRIDAY,MAY 27 , 2022

THEMARKETS

6 Monitoryourinvestmentsatwashingtonpost.com/markets Dataandgraphicsby

MJ JASONDJFMAM

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Auto Components 7 .. 1

Automobiles 66 .. 88

Airlines 66 .. 1

Textiles&Apparel 44 .. 55

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Biotechnology -- 00 .. 33

REITS -- 00 .. 22

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BBlloooommbbeerrgg

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34,020

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Copper 4.26 0.1
CrudeOil 114.09 3.4
Gold 1853.90 0.1
NaturalGas 8.91 -0.7
OrangeJuice 1.83 5.2

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Silver 21.97 0.4

Sugar 19.54 -0.7

Soybean 17.27 2.7

Wheat 11.43 -0.4

Corn 7.65 -0.9

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Coffee(COFF.L) 3.7
Copper(COPA.L) -0.3
Corn (CORN.L) 0.0
Cotton(COTN.L) -3.6
CrudeOil (CRUD.L) 3.4
Gasoline(UGAS.L) 1.6
Gold (BULL.L) -0.2
NaturalGas (NGAS.L) 0.8
Silver(SLVR.L) 0.1

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DollarTree Inc 162.80 21.9

Macy'sInc 22.92 19.3

Endo International0.47 18.5

DXC TechnologyCo 34.16 16.0

SelectquoteInc 2.99 14.6

MovadoGroupInc36.61 14.3

DollarGeneralCorp 222.13 13.7

Dave &Buster'sEnt 38.06 13.5

Williams-SonomaInc 130.00 13.1

TupperwareBrands 6.86 12.8

Five BelowInc 135.70 12.3

PhotronicsInc 20.06 12.3

NorwegianCruiseLine 15.39 12.1

GameStopCorp 128.46 11.5

Guess?Inc 20.07 11.3

elf BeautyInc 24.63 11.2

Bloomin'BrandsInc 20.96 11.0

Chico'sFAS Inc 5.02 10.1

Vera BradleyInc 6.55 10.1

CaesarsEntertainment 51.02 10.0

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ViasatInc 36.55 -11.1

Kraft HeinzCo/The 37.07 -7.0

MedtronicPLC 99.44 -5.8

TrueBlueInc 21.49 -5.3

MolinaHealthcare 299.02 -5.0

EmergentBioSolutions 32.19 -4.6

Coca-ColaCons 557.53 -4.3

CenteneCorp 81.89 -4.0

Amer'sCar-Mart/TX 105.30 -4.0

CF IndustriesInc 96.71 -3.8

MiddlesexWaterCo 84.22 -3.7

AgreeRealtyCorp 68.36 -3.6

REXAmericanResource 87.16 -3.3

Jack in the Box Inc 68.87 -2.9

iTeos Therapeutics 16.84 -2.9

PerdoceoEducation 10.71 -2.7

CollegiumPharma 15.54 -2.6

OraSureTechnologies 4.22 -2.5

Telephone&Data Sys 18.01 -2.5

AMC NetworksInc 38.94 -2.5

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Mexico$

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New Car Loan Natl

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S&P/ASX200 INDEX 7105.88 -0.7

CSI 300 INDEX 3993.05 0.2

HANGSENGINDEX 20116.20 -0.3

NIKKEI 225 26604.84 -0.3

EEuurrooppee -- 1100 .. 33 %% ++ 1100 .. 33 %%

STXE 600 (EUR)Pr 437.71 0.8

CAC 40 INDEX 6410.58 1.8

DAX INDEX 14231.29 1.6

FTSE 100 INDEX 7564.92 0.6

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3M Co 147.04 0.9 -17.2
AmerExpCo 165.37 3.0 1.1
AmgenInc 253.05 0.0 12.5
AppleInc 143.78 2.3 -19.0
Boeing 127.73 4.6 -36.6
Caterpillr 212.99 1.8 3.0
Chevron 176.59 0.7 50.5
Cisco Sys 44.99 2.3 -29.0
Coca-Cola 64.30 0.4 8.6
Dow Inc 67.84 0.8 19.6
GldmanSchs 323.63 2.8 -15.4
HnywllInt 193.10 1.4 -7.4
HomeDepot 302.81 3.1 -27.0
IBM 136.89 1.9 2.4
Intel Corp 43.48 3.0 -15.6

CCoommppaannyy CClloossee^1 DDCChh%%ggCChhYYYggTTT%%DD

J&J 179.46 -0.1 4.9

JPMorgan 129.44 1.7 -18.3

McDonald's 248.09 1.7 -7.5

Merck&Co92.31 -1.5 20.4

Microsoft 265.90 1.3 -20.9

NIKE Inc 112.94 4.4 -32.2

Prcter&Gmbl 146.48 0.9 -10.5

Salesforce 162.46 1.8 -36.1

Travelers Cos I174.87 0.7 11.8

UntdHlthGr 502.23 0.8 0.0

VerznComm 50.99 -0.5 -1.9

Visa Inc 208.55 2.3 -3.8

Walgreens 43.04 1.4 -17.5

Walmart 126.00 2.1 -12.9

Walt Disney 105.61 2.3 -31.8

1Yr CD Natl

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30-Yr Fixed mtge

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COMMODITIES EU €

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INTERNATIONALSTOCKMARKETS

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BRAZILIBOVESPAINDEX 111889.88 1.2

S&P/TSXCOMPOSITEINDEX 20532.18 0.7

S&P/BMVIPC 52143.00 0.8

HomeEquityLoan Natl

66 .. 8866

STANDARD&POOR'S

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BYAARONGREGG

ANDHAMZASHABAN

Chip giantBroadcomwill ac-
quiresoftwaremakerVMwarefor
$61 billionin cashand stock, the
companiesannouncedThursday,
in one of the largesttech mergers
of all time.
San Jose-basedBroadcomis a
leadingproducerof semiconduc-
tors, as well as muchof the essen-
tial hardwareunderpinningdata
centers.It tookin arecord$7.7
billion in revenuein its most
recentquarter and reported a23
percentjumpin operating profit.
VMware,basedin nearby Palo
Alto,producessoftware virtual-
ization technologythatmakes
servers moreefficient.It recorded
morethan$3 billionin salesin its
mostrecentquarter.
Under the termsof the transac-
tion,shareholderscan eithertake
$142.50in cashor a0.2520share

of Broadcomfor everyshareof

VMware.That representsamore

than40 percentpremiumover

VMware’s stock priceat the time

reports of the takeoverfirstsur-

faced.

Thedeal coincideswithabru-

tal, months-longsell-offonWall

Street, fueled by inflationand

recessionfearsthathavetaken an

outsize toll on the technology

stocksthatpoweredmuchof the

tremendousrally thatstarted ear-

ly in the pandemic. Thetech-

heavy Nasdaqindexisdeep into a

bear market,havingfallen30 per-

cent since its November 2021

peak.

On Thursday, however,stocks

registered awin,asthe Dow

surged by morethan500 points

andthe majorindexes setthe

stagetobreak aweeks-longlosing

streak.Thedeal’s significancewas

amplifiedbymarket’s recentfran-

tic movementsand the broader

economic uncertaintycentered

on historiclevels of inflation and

globalsupplychaindisruptions.

“This is ahistoricdealthat

speaksto the consolidation in the

tech sector duringthis downturn

withthis marriagemakingaton

of strategic sense,”said Wedbush

analystDan Ives. “Broadcombuy-

ing VMwareis also bullishfor the

cross-pollinationbetween cloud

and 5G globallyoverthe coming

years.”

Executivessaidthe combina-

tion wouldallowbothcompanies

to offer an expandedplatformof

crucialinfrastructure servicesfor

largeenterprises. It also gives

Broadcomasignificantfoothold

in cloudcomputing,alucrative

businessthatthe tech giantshave

soughtto expand.

Worldwidespendingon cloud

servicesis forecasttogrowby

morethan20 percentin 2022,to

nearly $500 billion, up from

$411billionin 2021,accordingto

the latestforecastfromthe re-

searchand consultingfirm Gart-

ner,Inc. By the end of next year,

spendingis expected to reachal-

most$600billion.

“Collectively,wewilldeliver

evenmorechoice,valueandinno-

vation to customers, enabling

them to thrive in this increasingly

complexmulti-cloud era,”said

VMwarechiefexecutiveRaghu

Raghuram in anewsrelease.

Broadcomhas apenchantfor

blockbuster deals,includingits

$10.7billionpurchaseof Syman-

tec in 2019 and $18.9billionac-

quisitionof CA Technologiesin

2018. Butthatsame year,the
      Trumpadministration shut down
      whatwould have beenthe then-
      Singapore-basedcompany’sbig-
      gest get: Qualcomm.
      Theadministration rejected
      thestaggering $117billiondeal on
      national securitygrounds. The
      combination wouldhave put one
      of America’slargestmobilechip-
      makersinthehandsofacompany
      basedin Asia, aregionthathas
      beenracingagainstU.S.compa-
      nies to developthe next genera-
      tionof mobiletechnology. The
      movealsowas in line withthe
      protectionistrhetoricand initia-
      tives under President Donald
      Trump,whichincludedsteep tar-
      iffs on steel and aluminumim-

ports, and aprolonged antago-

nismtowardChina.

Broadcom moved its head-

quartersto Californianot long

afterward.

VMware’s controllingowner-

ship has recentlychanged hands.

Last year,Dell spunoffits 81

percent stakeinthe company.

MichaelDell,the chiefexecutive

and founderof the computing

company, ownsabout40 percent

ofVMware,andhasagreedtovote

in favor of the deal.

Thecompanies expectthe

transactionto be completed in

Broadcom’s fiscal 2023,pending

approval by WMwaresharehold-

ers and anod from regulators.

Thedeal is one of the biggest

technologymergers of all time,

behindMicrosoft’s$69 billion ac-

quisition of gaminggiantActivi-

sionBlizzard.Meanwhile,Tesla

CEOElonMuskisinthemidstofa

high-profile efforttobuy Twitter

for $44 billion.

Broadcom shares advanced

3.6 percentThursdaytoclose at

$550.66,givingit amarket cap of

$224.8 billion.VMwarejumped

3.2 percentto settle at $124.36,

putting its market value at

$52.4 billion.

Semiconductor maker Broadcom agrees to buy VMware for $61 billion

MIKEBLAKE/REUTERS

Under thetermsofBroadcom’s deal,VMware shareholders would

geteither cashorstockinthe acquiringcompany.

Deal to buy softwarefirm

wouldbe one one of

tech’sbiggestmergers

(202)919-9209 (301)778-4222 (703)650-9337

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