Comcast has formalized its offer for British broadcaster Sky, along with commitments to maintain its annual budget and editorial board independence, in a deal valued at about $31B. Comcast said the "superior" cash bid was a 16% premium to the existing offer from Twenty-First Century Fox which has also been trying to buy the 61% of Sky that it doesn't already own (WSJ).
How does your bonus stack up? Google CEO Sundar Pichai was awarded 353,939 restricted shares before being promoted in 2014, those vest today. Currently worth about $380M, it's one of the largest single payouts to a public company executive in recent years. Alphabet's stock has surged 90% since the grant date, compared with a 39% advance of the S&P 500. (SA)
Boeing increased full-year earnings guidance citing a positive market outlook across its defense and aerospace businesses, after reporting first-quarter results well above market expectations. Defense contractor Northrup Grumman similarly reported a strong start to the year, as it benefited from the push by the US government to upgrade its military hardware and modernize its IT platforms. Facebook is also slated to report later today in one of the most anticipated earnings calls of the year (FT)
With Northwest Quadrant Wealth Management a Registered Investment Advisor I am Josh Fenili.