Here’s what you need to know this morning:
Apple V. Qualcomm
Qualcomm was recently accused of using their patent portfolio as leverage against companies they partner with. Now, Apple is filing a lawsuit in California against Qualcomm for “$1 billion in withheld rebates,” according to The New York Times. This comes a month after South Korea fined the chip making company $850 million. Qualcomm stock ($QCOM) is currently down 4.74% before the market opens.
Sprint Buys A Third of Tidal
Tidal, the once-public streaming service now owned by Jay Z and a handful of musicians, is now partially owned by Sprint. The SoftBank-owned mobile phone service provider purchased 33% of the company, and claims Tidal’s exclusive artists will make exclusive content for Sprint customers. How this will affect the company’s existing subscriber base (which is dwarfed by the likes of Pandora, Spotify, and Apple Music) remains to be seen.
A Big Day for McDonald’s and Yahoo
McDonald’s ($MCD) sales are down, but they’re better than expected, according to their fourth quarter earnings released this morning. The company’s revenue fell for the tenth quarter in a row, though less than analysts thought. Their stock is currently down less than .50% before the market opens.
Yahoo ($YHOO) will report their quarterly earnings this evening. The troubled company is in the process of being bought out by Verizon while spinning off their holdings into a different company. They’ve been hacked, hacked again, and lost the trust (and business) of millions of users. Will this impact their quarterly earnings? We’ll see at 4 PM.