New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 2, 2014
11:08 EDTBRCM, QCOM, AVGO, SWKSBroadcom 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.
September 29, 2014
13:21 EDTQCOMIntel shares advance after analyst ups target to $43
Subscribe for More Information
September 26, 2014
08:44 EDTQCOMQualcomm could have negative read through from Intel move, says Northland
Subscribe for More Information
September 24, 2014
09:59 EDTSWKSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Ameren (AEE) initiated with a Buy at Ladenburg... Autoliv (ALV) initiated with an Outperform at Exane BNP Paribas... BNY Mellon (BK) initiated with a Neutral at Citigroup... Burlington Stores (BURL) initiated with a Neutral at Credit Suisse... Cameron (CAM) initiated with a Market Perform at Wells Fargo... CoreLogic (CLGX) initiated with an Overweight at Piper Jaffray... FMC Technologies (FTI) initiated with a Market Perform at Wells Fargo... FNFV (FNFV) initiated with a Neutral at Piper Jaffray... Fidelity National (FNF) initiated with an Overweight at Piper Jaffray... First American (FAF) initiated with a Neutral at Piper Jaffray... Freeport McMoRan (FCX) initiated with an Outperform at Scotia Capital... Helmerich & Payne (HP) initiated with an Outperform at Wells Fargo... HomeAway (AWAY) initiated with a Buy at SunTrust... IMS Health (IMS) initiated with a Buy at Topeka... Nabors Industries (NBR) initiated with an Outperform at Wells Fargo... National Oilwell (NOV) initiated with a Market Perform at Wells Fargo... Northern Trust (NTRS) initiated with a Neutral at Citigroup... Pacific Drilling (PACD) initiated with a Market Perform at Wells Fargo... Paragon Offshore (PGN) initiated with a Market Perform at Wells Fargo... Patterson-UTI Energy (PTEN) initiated with an Outperform at Wells Fargo... Pioneer Energy (PES) initiated with an Outperform at Wells Fargo... Realogy (RLGY) initiated with an Overweight at Piper Jaffray... Ruckus Wireless (RKUS) initiated with a Neutral at SunTrust... Sarepta (SRPT) initiated with an Outperform at Credit Suisse... Skyworks (SWKS) initiated with a Buy at MKM Partners... State Street (STT) initiated with a Buy at Citigroup... Ubiquiti Networks (UBNT) initiated with a Buy at SunTrust... Wafergen Biosystems (WGBS) initiated with a Buy at Brean Capital.
07:00 EDTSWKSSkyworks initiated with a Buy at MKM Partners
Target $68.
September 23, 2014
11:33 EDTQCOM, BRCMAnalysis shows Apple spends $200-$247 to build iPhone 6s, Re/code says
Subscribe for More Information
08:11 EDTQCOMRuckus Wireless hires Qualcomm's Rabinovitsj as COO
Subscribe for More Information
September 22, 2014
06:18 EDTAVGOAvago gained significant share in iPhone 6, says Citigroup
Subscribe for More Information
September 19, 2014
09:19 EDTQCOMOn The Fly: Pre-market Movers
Subscribe for More Information
08:11 EDTQCOM, SWKS, AVGO, BRCMTriQuint chip among those in iPhone 6 Plus, iFixit reports
Subscribe for More Information
08:07 EDTAVGOAvago average iPhone content rose, says Craig-Hallum
Criag-Hallum believes that Avago has about $5.50 in average content in the iPhone 6/6+, which is up from about $4.00 in average content in the iPhone 5S/5C. The firm sees "minimal risk" to Street estimates for the company's October quarter. It keeps a $100 price target and Buy rating on the shares.
08:03 EDTQCOM, BRCM, SWKS, AVGOInvenSense, NXP, RF Micro chips included in iPhone 6, iFixit reports
Subscribe for More Information
08:03 EDTSWKSSkyworks average iPhone content rose, says Craig-Hallum
Craig-Hallum believes that Skyworks' average content in the iPhone6/6+ rose to a little over $5.50, up from an average of around $4.80 in the iPhone 5S/5C. The firm expects Skyworks' to report beat and raise results. It keeps a $62 price target and Buy rating on the shares.
September 18, 2014
15:22 EDTBRCMBroadcom appears to be WiFi chip provider for Apple Watch, Chipworks says
Subscribe for More Information
07:26 EDTQCOMGartner: Smartwatch market ready to expand, poised for takeoff, DigiTimes says
Subscribe for More Information
September 17, 2014
06:19 EDTQCOMGoogle picks former Qualcomm exec to head Google Fiber, WSJ reports
Google (GOOG) has hired Dennis Kish, a former Qualcomm (QCOM) executive, to head Google Fiber, replacing Milo Medin, the Wall Street Journal reports. A Google spokeswoman confirms that Medin remains a VP for access services and adviser to the Google Fiber team. Reference Link

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