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News Breaks
April 17, 2014
16:17 EDTAMDAMD sees Q2 revenue flat to up 6%, consensus $1.36B
News For AMD From The Last 14 Days
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July 23, 2015
09:38 EDTAMDActive equity options trading on open
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July 22, 2015
14:51 EDTAMDEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
July 21, 2015
16:01 EDTAMDOptions Update; July 21, 2015
iPath S&P 500 VIX Short-Term Futures down 13c to 16.20. Option volume leaders: AAPL BAC FB BAC MSFT NFLX AMD IBM CHK
05:51 EDTAMDUMC enters volume production for AMD chips using TSV, DigiTimes reports
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July 17, 2015
08:31 EDTAMDAMD expense cuts needed to avoid bankruptcy, says Susquehanna
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July 16, 2015
19:04 EDTAMDOn The Fly: After Hours Movers
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18:24 EDTAMDAMD says goal of 2H15 profitability has been pushed out, cites low PC demand
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17:43 EDTAMDAMD sees 2H15 product ramps as key market share driver
Also cites seasonal improvement in PCs and game consoles and re-balanced inventory. For 2016, sees the following market share drivers: Semi-custom and embedded products ramp; Graphics and commercial client growth; New high performance CPUs. For 2017/2018, sees the following market share drivers: Strong datacenter portoflio; Additional semi-custom design wins ramp: Multi-generation roadmap investments deployed. Guidance from presentation slides for Q2.
17:39 EDTAMDAMD targets long-term EPS of greater than 50c per share
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17:36 EDTAMDAMD sees 2H15 revenue up 15%, plus or minus 3%
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16:42 EDTAMDAMD Q2 Computing and Graphics segment revenue decreased 29% sequentially
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16:28 EDTAMDAMD cites near-term challenges in PC processor business
"Strong sequential revenue growth in our EESC segment and channel business was not enough to offset near-term challenges in our PC processor business due to lower than expected consumer demand that impacted sales to OEMs," said Dr. Lisa Su, AMD president and CEO. "We continue to execute our long-term strategy while we navigate the current market environment. Our focus is on developing leadership computing and graphics products capable of driving profitable share growth across our target markets."
16:21 EDTAMDAMD reports Q2 gross margin 25%, non-GAAP gross margin 28%
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16:19 EDTAMDAMD sees Q3 revenue up 6%, plus or minus 3%, sequentially , consensus $1.05B
16:17 EDTAMDAMD reports Q2 adjusted EPS (17c), consensus (17c)
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15:02 EDTAMDNotable companies reporting after market close
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11:41 EDTAMDTSMC slips after reporting Q2 results, cautious outlook
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