New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 2, 2014
11:08 EDTAVGO, QCOM, SWKS, BRCMBroadcom 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
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
March 31, 2015
06:09 EDTQCOMUMC obtains high-end 28nm chip orders from TSMC clients, DigiTimes reports
Subscribe for More Information
March 30, 2015
10:46 EDTSWKSOptions with increasing implied volatility
Subscribe for More Information
09:24 EDTBRCMBroadcom upgraded to Buy, attractive takeover target, says Nomura
Subscribe for More Information
07:09 EDTBRCMBroadcom upgraded to Buy from Neutral at Nomura
Subscribe for More Information
06:59 EDTQCOMUnited Microelectronics begins construction of 12-inch fab, DigiTimes says
Subscribe for More Information
March 27, 2015
11:08 EDTBRCMBroadcom downgraded to Buy from Strong Buy at Tigress Financial
10:31 EDTSWKSOptions with increasing implied volatility
Options with increasing implied volatility: ZU ARWR HLSS CREE BMRN SWKS IOC CMG INFN HOT
05:49 EDTSWKSStocks with implied volatility movement; SWKS T
Subscribe for More Information
March 26, 2015
11:05 EDTSWKSSkyworks falls, levels to watch
Subscribe for More Information
10:56 EDTSWKSOptions with increasing implied volatility
Subscribe for More Information
10:30 EDTSWKSSkyworks volatility elevated on share pullback
Subscribe for More Information
08:26 EDTQCOMSemi stocks less likely to rebound now than in 4Q14, says Goldman
Subscribe for More Information
06:28 EDTAVGOAvago pullback yesterday a buying opportunity, says Citigroup
Subscribe for More Information
March 25, 2015
07:33 EDTQCOMQualcomm Life and AMC Health announce collaboration
Qualcomm Life, a subsidiary of Qualcomm, and AMC Health announced a collaborative effort to accelerate the transformation of chronic care and population health management by significantly enhancing connectivity and care coordination for at-risk patients, specifically those with heart failure, hypertension, diabetes, asthma or COPD, in a cost-effective manner. The companies will integrate Qualcomm Life's 2net Connectivity Platform with AMC Health's CareConsole care coordination platform.
March 24, 2015
09:11 EDTAVGOAvago volatility at low end of historic range as shares at record high
Subscribe for More Information
07:21 EDTBRCMBroadcom pause in set-top box orders is temporary, says Macquarie
Subscribe for More Information
March 23, 2015
06:19 EDTAVGOAvago price target raised to $160 from $131 at Citigroup
Subscribe for More Information
March 20, 2015
07:24 EDTBRCMBroadcom chip renews competition with in-house hardware makers, WSJ says
Subscribe for More Information
March 18, 2015
11:25 EDTSWKSStocks with call strike movement; SWKS MU
Subscribe for More Information
05:52 EDTQCOMQualcomm to play larger role for China smartphone production, DigiTimes says
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use