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It's been quite a lively Monday on the after-hours trading scene. That's largely because there is a healthy amount of stock-moving news making headlines.
Among the developments, it seems Apple (NASDAQ: AAPL) is about to buy one of Intel's (NASDAQ: INTC) business units, while Starbucks (NASDAQ: SBUX) has brewed up a deal of its own. And TD Ameritrade (NASDAQ: AMTD) notched convincing beats in its latest earnings report, however...
Image source: Apple.
Apple about to buy Intel modem unit?
According to an article published in The Wall Street Journal after market close, Apple is far into discussions to purchase the 5G smartphone modem chip unit of Intel. The report comes on the heels of speculation that Apple was the unnamed party engaged in exclusive talks with Intel to buy the business.
The article, citing "people familiar with the matter," said the deal could be finalized within the next week. It would include assets such as patents and personnel valued at $1 billion or more. The article's sources did not get more specific about a potential final price.
Apple would benefit from developing 5G modem technology in-house rather than rely on outside suppliers. Like any tech manufacturer, it is gearing up for the future deployment of 5G; owning Intel's modem unit would greatly help in that effort.
Neither Apple nor Intel has yet commented on the article.
The stocks of both companies are trading up marginally this evening.
Starbucks grabs a piece of Brightloom
Never one to shy away from technology, Starbucks is pushing deeper into the restaurant tech space. The coffee giant has licensed aspects of its "flywheel" software -- the digital assets that power its mobile ordering system and loyalty program -- to restaurant tech company Brightloom, formerly known as eatsa. Both companies announced the move in separate press releases after trading hours.
In return for the license, Starbucks will receive an equity stake in privately held Brightloom and take a seat on its board of directors. It was not revealed how large a stake Starbucks is to hold.
The Starbucks technology will be incorporated into Brightloom's cloud-based software offerings for restaurants. According to Starbucks, "The combination will lead to the development of a cloud-based software solution for the restaurant industry that will connect customers to their favorite restaurant brands."
Brightloom added in its release that it "will work with global Starbucks license partners to deploy the platform around the world." Brightloom also announced that it has raised $30 million in a round of new funding; the monies will be used for that global rollout and integration of those Starbucks assets.