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Stock Market & Financial Investment News

News Breaks
January 29, 2013
13:07 EDTBRCMEarnings Preview: Broadcom to report how sales to Apple, others impacted Q4
Broadcom (BRCM) is expected to report Q4 earnings after the close on Tuesday, January 29, with a conference call scheduled for 4:45 pm ET. Broadcom is a global semiconductor company that operates in three segments: Broadband Communications, Mobile & Wireless, and Infrastructure & Networking... EXPECTATIONS: Analysts are looking for earnings per share of 73c on revenue of $2.07B. The consensus range is 64c-81c for EPS on revenue of $2.02B-$2.35B, according to First Call. Along with its Q3 earnings, Broadcom said it expected Q4 revenue of about $1.95B-$2.1B. During its analyst day in December, Broadcom narrowed that revenue view to $2B-$2.1B, citing slightly better-than-expected revenue in its Mobile & Wireless business... LAST QUARTER: Broadcom reported adjusted Q3 EPS of 79c on revenue of $2.13B, which beat the consensus expectations at that time in October. Broadcom reported an adjusted product gross margin of 52.1% for Q3 and guided its adjusted product gross margin to be flat to up slightly sequentially in Q4... RESEARCH: Early this month, Citigroup removed Broadcom (BRCM) from its Top Picks Live list in favor or Qualcomm (QCOM). However, Citi maintained a Buy rating and $41 price target on Broadcom shares. During this month, a number of moves lower made by Broadcom's stock have been attributed to weakness in Apple (AAPL), one of its key customers. However, in a note to investors sent about a week before Apple reported its own quarterly results, Pacific Crest said Broadcom should be bought on iPhone related weakness. Pacific Crest analyst Michael McConnell wrote at that time that growth in Samsung smartphones and Apple's iPad should offset any weakness for Broadcom caused by slower iPhone growth. Pacific Crest maintains an Outperform rating on Broadcom... PRICE ACTION: Since the day after Apple (AAPL) reported its disappointing revenue and guidance, January 24, Broadcom shares are down a bit over 3%. However, even with that recent weakness, Broadcom's stock has risen over 1.5% since the day after its last quarterly report. In early afternoon trading ahead of tonight's report, Broadcom is down about 0.4% to $33.92.
News For BRCM From The Last 14 Days
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April 30, 2015
13:15 EDTBRCMApple Watch breakdown shows Broadcom, STM, ADI chips, MacRumors says
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April 28, 2015
08:09 EDTBRCMBroadcom receives NAGRA NOCS3 certification for HEVC and STB SoCs
Broadcom announced that it is the industry's first to receive NAGRA NOCS3 certification for HEVC and Ultra High Definition set-top box, or STB, systems-on-a-chip, or SoCs. The security architecture supports the latest in content protection, ensuring the delivery of premium content and services to multiple TVs and devices in the home. For more news, visit Broadcom's Newsroom.
April 27, 2015
08:47 EDTBRCMBroadcom management to meet with JPMorgan
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April 24, 2015
09:34 EDTBRCMBroadcom management to meet with JPMorgan
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April 22, 2015
14:47 EDTBRCMEarnings Watch: Texas Instruments reports amid M&A focus in semiconductor space
Texas Instruments (TXN) is expected to report first quarter earnings after the close on Wednesday, April 22, with a conference call scheduled for 5:30 pm ET. Texas Instruments is a global semiconductor manufacturer operating in four segments: Analog, Embedded Processing, Wireless and Other. EXPECTATIONS: Analysts are looking for earnings per share of 62c on revenue of $3.2B. The consensus range is 61c-64c for EPS on revenue of $3.18B-$3.21B, according to First Call. On its last earning call, Texas Instruments said it expected Q1 EPS of 57c-67c and revenue of $3.07B-$3.33B. LAST QUARTER: On January 26, Texas Instruments reported adjusted fourth quarter EPS of 69c, which matched consensus expectations at that time. Its Q4 revenue of $3.27B came in just above the consensus forecast of $3.26B. Texas Instruments said its inventory ended the quarter at 117 days and noted on its associated conference call that it believe inventories were at "healthy levels." Texas Instruments also said then that it expected its embedded operating margins to increase. STREET RESEARCH: The day after TI's last quarterly report, Ascendiant raised its price target for Texas Instruments shares to $64 from $56 and reiterated a Buy rating on the stock. The firm attributed the post-earnings slide the stock experienced then to profit taking, rather than a fundamental disappointment. That same week, Argus increased its price target on Texas Instruments to $62 from $54 and said it expected the company's operating trends to continue to strengthen. Argus kept a Buy rating on the shares. Acquiring companies in the semiconductor space "can materially outperform the market," Jefferies analyst Mark Lipacis wrote in a note to investors on March 9. At that time, Lipacis identified Texas Instruments, NXP Semiconductors (NXPI), Avago (AVGO), Marvell (MRVL), Maxim Integrated (MXIM), Broadcom (BRCM), Altera (ALTR), and Xilinx (XLNX) as companies that were well-positioned to make acquisitions in the future. WHAT'S NOTABLE: On March 1, NXP Semiconductors and Freescale Semiconductor (FSL) announced that they have entered into a definitive agreement under which NXP will merge with Freescale in a transaction valuing the combined enterprise at just over $40B. Recent media reports suggested that Intel's (INTC) talks to acquire Altera stalled when the latter wanted more than Intel was willing to pay. PRICE ACTION: Since the day after last quarter's report, Texas Instruments' stock has rallied nearly 7%. In afternoon trading, Texas Instruments gained over 1% to $58.76.
10:20 EDTBRCMBroadcom CEO says enterprise spending 'fairly strong' globally
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10:19 EDTBRCMBroadcom CEO says focusing on connectivity technology
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09:22 EDTBRCMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: CalAmp (CAMP), up 12.7%... Angie's List (ANGI), up 17.4%... Broadcom (BRCM), up 6.3%... Owens Corning (OC), up 3.8%... Yum! Brands (YUM), up 3.3%... Dolby Laboratories (DLB), up 3.6%... Infinera (INFN), up 2.4%... AutoNation (AN), up 2.5%... Amgen (AMGN), up 3.1%... Coca-Cola (KO), up 2%. ALSO HIGHER: Procera Networks (PKT) up 10.4% after being acquired by Francisco Partners in deal valued at $240M... Organovo (ONVO), up 19.2% after entering into a collaboration agreement with Merck Sharp and Dohme... Vical (VICL), up 5.8% after being awarded $4M contract to manufacture HIV vaccines for clinical evaluation... CTI BioPharma (CTIC), up 4.9% after announcing that Phase 3 pacritinib data will be highlighted in a late-breaking oral presentation at ASCO meeting. DOWN AFTER EARNINGS: Chipotle Mexican Grill (CMG), down 5.2%... iRobot (IRBT), down 3.6%... Cree (CREE), down 3.5%... United Rentals (URI), down 4%... Super Micro Computer (SMC), down 2.3%... Thermo Fisher (TMO), down 2.6%. ALSO LOWER: Natural Resource Partners (NRP), down 14% after reducing quarterly distribution 75% to 9c per unit... Trinity Industries (TRN), down 3.5% following a Bloomberg report that the Justice Department has initiated a criminal investigation into Trinity guardrails.
08:14 EDTBRCMBroadcom remains a top semi pick after Q1 results at JPMorgan
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07:11 EDTBRCMBroadcom price target raised to $59 from $53 at Brean Capital
Brean Capital raised its price target on Broadcom to $59 from $53 following its beat and raise Q1 results. The firm cited strength in its infrastructure and networking segments, tight cost management, and raised guidance. Brean Capital reiterated its Buy rating on Broadcom shares.
April 21, 2015
19:06 EDTBRCMOn The Fly: After Hours Movers
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16:45 EDTBRCMBroadcom up over 4% following Q1 results, guidance
16:08 EDTBRCMBroadcom sees Q2 adjusted gross margin 56%, plus or minus 75 bps
Sees Q2 gross margin 54.5%, plus or minus 75 bps. Sees Q2 research & development, and selling, general & administrative expenses down about $15M, plus or minus $10M sequentially.
16:07 EDTBRCMBroadcom sees Q2 revenue about $2.1B, plus or minus $75M, consensus $2.07B
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16:06 EDTBRCMBroadcom reports Q1 adjusted EPS 64c, consensus 60c
Reports Q1 revenue $2.06B, consensus $2.01B.
15:28 EDTBRCMNotable companies reporting after market close
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14:31 EDTBRCMBroadcom technical notes ahead of earnings
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April 20, 2015
14:02 EDTBRCMBroadcom April weekly volatility elevated into Q1 and outlook
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