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Stock Market & Financial Investment News

News Breaks
June 2, 2014
11:08 EDTQCOM, SWKS, BRCM, AVGOBroadcom rises after plan to explore options for baseband unit
Shares of Broadcom (BRCM), which provides semiconductor solutions for wired and wireless communications, are rising this morning after the company said it will explore strategic alternatives for its cellular baseband business. WHAT'S NEW: Broadcom said it will explore strategic options for its cellular baseband business, including a possible sale or wind-down, and has hired hired JPMorgan (JPM) to assist. A sale or wind-down of the business would reduce expenses by about $700M, and the company said non-GAAP research and development and selling, general and administrative expenses are expected to be reduced by around $600M. Broadcom expects to reinvest about $50M of the savings on an annualized basis into projects in the broadband, infrastructure and connectivity businesses, it noted. WHAT'S NOTABLE: In conjunction with the announcement, Broadcom updated its second quarter outlook. It still sees Q2 revenue of $2B-$2.1B, against analysts' consensus estimates of $2.05B, and it now expects both GAAP and non-GAAP product gross margin to be at or above the high end of its previously-guided range, driven principally by mix. The company's previous adjusted product gross margin view was for an increase of 75 basis points to 175 basis points. ANALYST REACTION: Sterne Agee thinks the wind down of the Broadcom unit improves the positioning of peer Qualcomm (QCOM) and the firm also expects that rivals Avago (AVGO) and Skyworks (SWKS) will benefit from Broadcom's move. PRICE ACTION: Broadcom is trading up $2.61, or 8.2%, to $34.49 in late-morning trading. Meanwhile, Qualcomm is up modestly to $80.32, Avago is up fractionally to $70.99 and Skyworks is down 0.5% to $43.09.
News For BRCM;QCOM;AVGO;SWKS From The Last 14 Days
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July 22, 2015
10:45 EDTQCOMQualcomm technical notes ahead of results
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10:09 EDTSWKSSkyworks falls after Apple earnings, levels to watch
The shares are down 4.8% to $99.04, off the earlier low at $96 which is now support. At current price next resistance is at $100.98, the 10-day moving average.
08:01 EDTSWKSSkyworks Q3 results, Q4 guidance should beat expectations, says Oppenheimer
Oppenheimer predicts that Skyworks' Q3 results will beat expectations, driven by better than seasonal iPhone and Chinese 4G smartphone demand. The firm expects the company's Q4 guidance to beat expectations due to the iPhone 6S refresh and continued strength in China. It thinks that the company's free cash flow and gross margins will trend higher for the foreseeable future. It keeps an Outperform rating.
05:55 EDTQCOMQualcomm to cooperate with Microsoft, Allwinner in mobile market, DigiTimes says
Qualcomm (QCOM) is expected to ramp up its penetration in the entry-level mobile device market by cooperating with Microsoft (MSFT) to launch low-cost Windows Mobile 10 products, reports DigiTimes Research. Qualcomm is also expected to cooperate with Allwinner Technology to launch 3G/4G solutions for connected tablets. Reference Link
July 21, 2015
19:00 EDTSWKS, AVGO, BRCM, QCOMOn The Fly: After Hours Movers
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18:14 EDTSWKS, QCOMApple supplier stocks sink after iPhone, iPad unit volumes lower sequentially
Shares of iPhone suppliers, including Skyworks (SWKS), Cirrus Logic (CRUS), NXP Semiconductors (NXPI), and QUALCOMM (QCOM), are trading lower after Apple (AAPL) reported third quarter earnings after the close. WHAT'S NOTABLE: Apple reported iPhone unit volume of 47.5M in Q3 versus 61.1M in the prior quarter. Apple's iPad unit volume was 10.9M for Q3, lower than the 12.6M unit volume reported in the prior quarter. PRICE ACTION: Apple is sinking almost 7% in after-hours trading, while its suppliers are also lower, with Skyworks down more than 5%, Cirrus Logic down just under 5%, NXP Semiconductors slumping almost 5%, and QUALCOMM sliding 1.2%.
08:44 EDTSWKSQorvo Skyworks fundamentals attractive ahead of earnings, says Pacific Crest
Pacific Crest notes that there are concerns about Qorvo (QRVO) and Skyworks (SWKS) due to weak Samsung device sales and China smartphone saturation. However, the firm is upbeat on the companies' demand outlook due to what it says are improving China demand, robust Apple device sales and continued content expansion given the shift to LTE.
08:15 EDTQCOMQualcomm split would likely destroy value, says Bernstein
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07:53 EDTQCOMQualcomm July weekly volatility elevated into Q3 and report of possible breakup
Qualcomm July weekly call option implied volatility is at 60, August is at 27, September is at 23; compared to its 52-week range of 12 to 48, suggesting large near term price movement into the expected release of Q3 results on July 22 and WSJ report of possible breakup.
July 20, 2015
19:49 EDTQCOMQualcomm plans strategic review including possibility of breakup, WSJ says
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19:40 EDTQCOMQualcomm may consider breakup, WSJ says
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16:34 EDTQCOMQualcomm to cut 'several thousand' jobs, The Information says
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16:33 EDTQCOMQualcomm may cut 'several thousand jobs' according to report, CNBC says
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July 17, 2015
14:29 EDTAVGOAvago eyeing acquisition of Marvell, Light Reading says
Avago (AVGO) is looking at acquiring semiconductor vendor Marvell (MRVL), according to Light Reading, citing a reputable source. Reference Link
July 16, 2015
10:00 EDTAVGOOn The Fly: Analyst Initiation Summary
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09:08 EDTAVGOOn The Fly: Pre-market Movers
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08:18 EDTQCOMSeveral stocks attractive following Intel results, says JMP Securities
For investors looking to take advantage of the sentiment shift the Intel (INTC) results could mean for the group and stronger demand due to seasonality and the Windows 10 launch, JMP Securities recommends Nvidia (NVDA) and Micron (MU). The firm says that both stocks have more attractive valuations and "more strategic roadmaps" than Intel. It also recommends Apple (AAPL) and Qualcomm (QCOM) as more attractive and secure dividend growth plays.
07:07 EDTAVGOAvago initiated with an Outperform at BMO Capital
Target $185.
05:51 EDTQCOMEuropean Commission confirms two investigations against Qualcomm
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05:22 EDTQCOMQualcomm issues statement on European Commission announcement
Qualcomm provided the following statement: "We were informed that the European Commission has taken the procedural step of 'initiating proceedings' against Qualcomm with regard to the two ongoing investigations into Qualcomm's sale of chipsets for mobile devices. This step allows investigators to gather additional facts, but it represents neither an expression by the Commission on the merits of the case nor an accusation against the company. While we were disappointed to hear this, we have been cooperating and will continue to cooperate with the Commission, and we continue to believe that any concerns are without merit."
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