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Stock Market & Financial Investment News

News Breaks
May 23, 2013
11:31 EDTQCOM, CRUS, NXPI, BRCM, RFMD, SWKSCirrus Logic tumbles after reducing long-term margin outlook
Cirrus Logic (CRUS), which develops audio components for mobile devices, is sinking after the company indicated that its profit margins would drop over the longer term. WHAT'S NEW: Cirrus disclosed in slides for today's Barclays Global Technology Conference that it expects its gross margins to be in the mid 40s percentage level over the long-term. The company had previously expected its gross margins to be 50%-52% over the long-term, according to research firm Oppenheimer. Cirrus' gross margin in its quarter ended in March was 49%. Cirrus explained that it expects to see increased pricing pressure in the smartphone market, as well as reduced prices for its products. Over the long-term the company expects its revenue to increase 15% annually on average. ANALYST REACTION: In a note to investors, Oppenheimer analyst Rick Schafer wrote that Cirrus' position is "increasingly precarious." Apple, which represents about 85% of Cirrus' sales, is placing various pressures on Cirrus, the analyst wrote. Moreover, the components maker does not have any growth catalysts and is unlikely to outperform, he added. Schafer expects Cirrus to report weaker than expected results going forward, and he kept a Perform rating on the stock. OTHERS TO WATCH: Other companies that make components for smartphones could also be affected by the trends identified by Cirrus. Among the other companies in this category are Skyworks (SWKS), Broadcom (BRCM), Qualcomm (QCOM), RF Micro Devices (RFMD), and NXP Semiconductors (NXPI). TODAY'S PRICE ACTION: In late morning trading, Cirrus tumbled 15.5% to $18.65, Skyworks gave back 1.4% to $22.90, Broadcom lost 0.3% to $33.60, Qualcomm retreated 2% to $64, and NXP Semiconductors gave back 1.75% to $28.75.
News For CRUS;SWKS;BRCM;QCOM;RFMD;NXPI From The Last 14 Days
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January 21, 2015
09:44 EDTQCOMQualcomm slips on reports its chips won't be used in new Galaxy phone
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09:37 EDTQCOMQualcomm shares defended at Credit Suisse
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08:37 EDTSWKSSkyworks shares should be bought ahead of results, says Pacific Crest
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08:13 EDTQCOMQualcomm slides after reportedly being dropped from Galaxy phone
Samsung Electronics (SSNLF), which is trying to become more self-sufficient and give a boost to its own processor-making unit, will reportedly drop Qualcomm’s (QCOM) Snapdragon chip in favor of its own microprocessors in the next Galaxy S smartphone, according to a report from Bloomberg that cited people with direct knowledge of the matter. Shares of Qualcomm are down 2.7% to $70.50 in pre-market trading following the Bloomberg report.
07:29 EDTSWKSSkyworks Q1 results likely to beat expectations, says Oppenheimer
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05:53 EDTQCOMStocks with implied volatility movement; IBM QCOM
Stocks with implied volatility movement; IBM (IBM) 27, Qualcomm (QCOM) 33 according to iVolatility.
05:53 EDTQCOMSamsung drops Qualcomm chip from next Galaxy smartphone, Bloomberg reports
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January 16, 2015
10:01 EDTQCOMOn The Fly: Analyst Downgrade Summary
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09:24 EDTNXPINXP Semiconductors price target raised to $90 from $82 at Sterne Agee
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08:24 EDTQCOMQualcomm downgraded to Hold from Buy at Drexel Hamilton
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06:03 EDTQCOMQualcomm Snapdragon 810 scheduled for product launches, DigiTimes reports
Although Qualcomm's Snapdragon 810 has been rumored to have defects and unstable mass production, DigiTimes Research says the product has already entered mass production. The AP may still have some defects, but they have not stopped vendors from adopting it into their products. Reference Link
January 15, 2015
06:14 EDTQCOMSamsung may dump Qualcomm chip in Galaxy S6 for own processor, DigiTimes says
Samsung (SSNLF) may dump Qualcomm's (QCOM) Snapdragon 810 processor for use in its next-generation Galaxy S smartphone in favor of its own Exynos-series chip, reports DigiTimes. According to other industry sources, Samsung's Galaxy S6 may have two versions using either Qualcomm's Snapdragon processors or Samsung's own Exynos chips. Reference Link
06:12 EDTQCOMTSMC sales likely to disappoint in Q2, DigiTimes reports
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January 14, 2015
10:00 EDTCRUSOn The Fly: Analyst Upgrade Summary
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06:43 EDTCRUSCirrus Logic upgraded to Sector Perform from Underperform at Pacific Crest
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06:04 EDTQCOMQualcomm implied volatility of 34 at upper end of index mean range
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January 13, 2015
10:00 EDTSWKSOn The Fly: Analyst Upgrade Summary
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08:48 EDTSWKSSkyworks upgraded at BMO Capital
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06:45 EDTSWKSSkyworks upgraded to Outperform from Market Perform at BMO Capital
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January 12, 2015
07:56 EDTNXPINXP Semiconductors price target raised to $95 from $85 at Canaccord
Canaccord raised its price target on NXP Semiconductors to $95 from $85 following the company's demonstrations at the CES conference. The firm sees strong growth prospects across its end markets, particularly in the automotive sector. Canaccord reiterated its Buy rating on NXP Semiconductor shares.
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