European Economics Preview: ECB Monetary Policy Decision Due

Delta orders 25 additional Airbus A321neo jetliners, options for 25 more

Delta Air Lines is buying 25 more Airbus A321neo planes, according to a company memo sent on Thursday. The new sale brings Delta's A321neo firm orders to 125 planes.

The Atlanta-based carrier also has options for 25 more of the narrowbody jetliners, said the memo, which was seen by CNBC.

"Adding these new efficient narrowbody jets to our fleet means more career opportunities for our pilots and more capacity to grow our network during the recovery, solidifying our leadership position as more customers return to fly with Delta," John Laughter, Delta's senior vice president and chief of operations wrote in the memo to pilots

This is breaking news. Check back for updates.

Sen. Tim Scott will deliver the GOP response to Biden's speech before a joint session of Congress

  • Sen. Tim Scott will deliver the GOP response to Biden’s first congressional address on April 28.
  • GOP leader Mitch McConnell called Scott “one of the most inspiring and unifying leaders in our nation.”
  • Biden’s planned remarks come as he nears his 100th day in office.
  • See more stories on Insider’s business page.

South Carolina Rep. Tim Scott will deliver the GOP response to President Joe Biden’s speech before Congress on April 28.

Biden is planning to make his first remarks to a joint session of congress as he nears his first 100 days in office.

House Speaker Nancy Pelosi wrote to Biden in early April asking the President to, “share your vision for addressing the challenges and opportunities of this historic moment.”

On Thursday, Senate Minority Leader Mitch McConnell and House minority leader Kevin McCarthy announced that Tim Scott, the only Black GOP senator, would give the rebuttal centered on his party’s vision. 

“Senator Tim Scott is not just one of the strongest leaders in our Senate Republican Conference. He is one of the most inspiring and unifying leaders in our nation,” Senate Minority Leader Mitch McConnell said in a statement.

This story is developing. Check back for updates.

Silicon Lab To Sell Infrastructure And Automotive Biz To Skyworks For $2.75 Bln

Silicon Laboratories Inc (SLAB) Thursday said it has agreed to sell its infrastructure and automotive business to Skyworks Solutions Inc. (SWKS) for $2.75 billion. Shares of Silicon Laboratories jumped 6% following the news.

The deal includes Silicon Labs’ power/isolation, timing and broadcast products, intellectual property and associated employees.

Silicon Labs expects to receive $2.3 billion in proceeds from the deal and will return about $2 billion to shareholders through a combination of special dividends and buybacks.

The deal is expected to close in the third quarter of 2021, the company said.

“The outcome of this deal is a measurable testament to the industry-leading solutions and strong financial performance the world-class infrastructure and automotive team delivered the last 25 years,” said Silicon Labs CEO Tyson Tuttle.

Silicon Labs also said it expects its first-quarter revenues to be about $255 million. Analysts polled by Thomson Reuters currently estimate revenues of $242.11 million.

Skyworks said it expects the deal to be immediately accretive and to accelerate the path to Skyworks achieving its target financial model.

SLAB closed Thursday’s trading at $144.65, down $3.30 or 2.23%, on the Nasdaq. The stock, however, gained $9.35 or 6.46%, in the after-hours trade.

Plaintiff attorney Tony Buzbee in pursuit of Deshaun Watson’s phones

The attorney for the 22 women suing Deshaun Watson once again said the NFL quarterback has “unsent” or deleted messages on Instagram and is pursuing two of Watson’s phones in an effort to recover them.

The attorney, Tony Buzbee, made the accusation after Watson’s attorney, Rusty Hardin, said Thursday during a court appearance that Buzbee’s clients also had deleted or altered messages on social media. All of these messages are considered evidence that could help show whether the Houston Texans star engaged in sexual misconduct with these women during massage sessions.

“Once we get those phones, whether you deleted something or not, Deshaun Watson, we’re going to know everything you’ve ever written and ever said and ever sent,” Buzbee said during a court conference Thursday in Houston that was livestreamed. “And the same is true on our side.”

European Economics Preview: ECB Monetary Policy Decision Due

The monetary policy announcement from the European Central Bank is due on Thursday, headlining a light day for the European economic news.

The bank is expected to keep its policy rates and stimulus package unchanged at the rate-setting meeting of the year. The announcement is due at 7.45 am ET.

ECB President Christine Lagarde is set to hold the customary press conference at 8.30 am ET.

At 2.45 am ET, the French statistical office Insee publishes business confidence survey results for April. The business confidence index is forecast to rise marginally to 99 from 98 in March.

At 3.00 am ET, consumer confidence survey data is due from Turkey.

At 4.00 am ET, Italy’s Istat publishes industrial orders and turnover data for February. Sales had increased 2.5 percent on month in January.

At 6.00 am ET, the Confederation of British Industry releases Industrial Trends survey data. The order book balance is forecast to rise to 2 percent in April from -5 percent in March.