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Stock Market & Financial Investment News

News Breaks
June 3, 2014
10:45 EDTBRCM, QCOM, AVGO, SWKSAnalysts split on Broadcom outlook after baseband announcement
Shares of Broadcom (BRCM) are rising for a second day after the company indicated that it would look to sell or wind down its cellular baseband business, but analysts were divided on the company's outlook following the announcement. BEARISH TAKE: In a note to investors earlier today, Kevin Cassidy, an analyst at research firm Stifel, downgraded Broadcom to Hold from Buy. The loss of the baseband business could cause Broadcom's market share in connectivity products - including Wi-Fi, Bluetooth, GPS and NFC chips - to decline, Cassidy warned. Companies that will still be able to supply connectivity chips could gain market share at Broadcom;'s expense, the analyst suggested. Also bearish was Pacific Crest analyst Michael McConnell, who is concerned about the long-term outlook of Broadcom's connectivity business. The company is facing increased competition from integrated platforms in the middle and lower end smartphone market, while the higher end smartphone market is becoming saturated, McConnell believes. The fair value of Broadcom's stock could reach $45, but it is likely to trade around $35-$38 over the longer term, according to McConnell, who kept a Sector Perform rating on the shares. BULLISH TAKE: Wedbush analyst Betsy Van Hees wrote that Broadcom's decision addresses her biggest concern with the stock and should unlock considerable value. Although Broadcom's connectivity products could lose market share, the company would likely respond to such losses by intensifying its focus on the areas in which it has the most expertise and on emerging areas such as the Internet of Things, Van Hees contended. She upgraded the stock to Outperform from Neutral and upped her price target on the shares to $43 from $30. Meanwhile, research firm Cowen increased its price target on Broadcom to $39 from $32, saying that the company's exit from the baseband business could make it a better M&A candidate while allowing it to invest in other businesses.The firm kept an Outperform rating on the shares. WHAT'S NOTABLE: Another research firm, Sterne Agee, yesterday speculated that Qualcomm (QCOM), Avago (AVGO), and Skyworks (SWKS) could benefit from Broadcom's move. PRICE ACTION: In early trading, Broadcom rose 42c, or 1.2%, to $35.26.
News For BRCM;QCOM;AVGO;SWKS From The Last 14 Days
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August 28, 2014
06:18 EDTQCOMStocks with implied volatility below IV index mean; QCOM ITMN
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August 27, 2014
09:12 EDTQCOMQualcomm China resolution unlikely to come soon, says Bernstein
After meeting with Qualcomm's management, Bernstein does not expect the company's China royalty issues to be solved very soon. The firm is not upbeat on the stock's risk/reward ratio and keeps a Market Perform rating on the shares.
09:06 EDTBRCMBroadcom volatility at record lows
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07:43 EDTBRCMJefferies to hold a summit
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07:40 EDTSWKSStephens to hold a field trip
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07:34 EDTAVGOAvago Q3 results likely to beat expectations, says Oppenheimer
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06:06 EDTQCOMStocks with implied volatility below IV index mean; QCOM ITMN
Stocks with implied volatility below IV index mean; Qualcomm (QCOM) 14, InterMune (ITMN) 12 according to iVolatility.
August 26, 2014
08:55 EDTQCOMEU antitrust regulators could open Qualcomm investigation, Reuters reports
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07:20 EDTQCOMTablets seen declining, notebooks growing in 2014, DigiTimes says
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06:08 EDTQCOMStocks with implied volatility below IV index mean; QCOM ITMN
Stocks with implied volatility below IV index mean; Qualcomm (QCOM) 13, InterMune (ITMN) 16 according to iVolatility.
August 25, 2014
06:14 EDTQCOMStocks with implied volatility below IV index mean; QCOM VRNG
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August 24, 2014
21:56 EDTBRCMB. Riley to hold a tour
Silicon Valley Tech Tour travels throughout Silicon Valley on August 25-27.
August 22, 2014
11:17 EDTAVGOPeregrine unlikely to receive competing bid, says Oppenheimer
Oppenheimer believes Peregrine (PSMI) is unlikely to receive a competing takeover bid to Murata's since Murata is Peregrine's largest customer and Avago (AVGO) and Skyworks (SWKS) are looking to diversify away from mobile. Opco thinks Murata may look to divest Peregrine's non-mobile business, and views Skyworks, RF Micro Devices (RFMD), Analog Devices (ADI), and M/A-Com Technology (MTSI) as logical buyers for the business.
06:35 EDTQCOMChina's NDRC say Qualcomm aims to end investigation, Reuters says
China's National Development and Reform Commission said that Qualcomm is aiming to end a probe into monopolistic tendencies and had showcased its desire to improve and fix pricing problems, according to Reuters, citing a statement from the NDRC. Reference Link
August 21, 2014
17:00 EDTAVGOAvago files to sell $1B of 2% convertible senior notes due 2021
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09:00 EDTAVGOSeveral semi companies have positive read through from deal, says Sterne Agee
After Infineon (IFNNY) bought International Rectifier (IRF), Sterne Agee thinks the deal indicates that the shares ofother players in the sector - including Spansion (CODE), NXP Semiconductors (NXPI), and Avago (AVGO) - can rise further. The firm keeps Buy ratings on the latter three stocks.
05:50 EDTQCOMStocks with implied volatility movement; QCOM SNDK
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August 19, 2014
06:29 EDTAVGOMorgan Stanley remains a buyer of Avago
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August 18, 2014
10:29 EDTAVGOGoldman cuts sector view on semiconductors to Cautious
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08:04 EDTAVGOSemiconductors sector downgraded to Cautious from Neutral at Goldman
Goldman downgraded the Semiconductors sector to Cautious given signs the cycle is turning based on expectations for a slowdown in semiconductor revenue growth, above trend semi unit shipments that should normalize, and stretching lead times. As a result, the analyst sees risk to Q4 estimates and sees further downside of 10%-25% for the SOX (SOX) and downgraded NXP Semiconductors (NXPI) to Sell from Neutral, InvenSense (INVN) to Neutral from Buy, and removed Maxim Integrated (MXIM) from the Conviction Buy List.
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