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Stock Market & Financial Investment News

News Breaks
January 29, 2014
07:31 EDTFB, QCOM, DOWFutures quiet in early trading
Stock futures are quiet as the market awaits the conclusion of the Fed’s two day FOMC meeting. Analysts will be watching to see if the Fed continues tapering or if it will maintain its current level of asset purchases. There was little reaction to the President’s State of the Union address. During the speech, the president said he would use his executive powers to advance his economic priorities. Investors will ready themselves for the next round of earnings reports. Facebook (FB), Dow Chemical (DOW) and Qualcomm (QCOM) are among the companies that will be reporting results.
News For FB;DOW;QCOM From The Last 14 Days
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November 10, 2014
06:28 EDTQCOMReport: TSMC may buy Qualcomm Taiwan factory, DigiTimes says
TSMC (TSM) is considering an acquisition of Qualcomm's (QCOM) Taiwan factory to expand its packaging and test business, reports DigiTimes. Citing a Chinese-language Economic Daily News report, the Qualcomm factory will be acquired for several billion NT dollars. Reference Link
November 7, 2014
17:00 EDTQCOMMarket ends week higher after upbeat U.S. data, hint at ECB easing
Stocks finished the week higher and near record levels as several better than expected U.S. economic data points boosted shares. MACRO NEWS: In the U.S., weekly jobless claims, a manufacturing index for October, and factory orders for September all beat expectations. The nonfarm payrolls report showed fewer than expected jobs were added last month, but the figures from the prior two months were upwardly revised... European Central Bank President Mario Draghi said the ECB Governing Council was unanimous in its commitment to use unconventional instruments if needed to boost the euro zone's economy. Meanwhile, some possible "green shoots" emerged in Europe, as France reported that its manufacturing output had risen 0.6% in September versus August. Furthermore, Western European car sales surged 5.5% in October versus the same period a year earlier, Reuters reported, citing industry data. There was, however, some negative news out of Europe, as Germany said that its factory orders had increased just 0.8% in September, following a revised 4.2% slump in August. Economists had expected the orders to jump 2.3%. Also, the European Commission cut its 2014 GDP growth forecast for the EU to 0.8% from its previous forecast for a 1.2% gain. COMPANY NEWS: Tesla (TSLA), Chinese e-commerce giant Alibaba (BABA), Archer Daniels Midland (ADM), International Paper (IP), Whole Foods (WFM), and upscale accessories and apparel maker Kate Spade (KATE) were among the stocks that climbed following their results. Conversely, multi-level marketer Herbalife (HLF), Priceline (PCLN), Michael Kors (KORS), IT security company FireEye (FEYE), and chip maker Qualcomm (QCOM) fell following their quarterly reports... In takeover news, clinical laboratory company LabCorp (LH) said it would buy drug development services company Covance (CVD) for $105.12 per share in cash and stock, and marketing services company Sapient (SAPE) agreed to be acquired by French advertising giant Publicis (PUBGY) for $25.00 per share in cash... Shares of a number of hospital owners, including Tenet Healthcare (THC), Community Health (CYH), and HCA Holdings (HCA) fell after Republicans won control of the U.S. Senate. Republicans have promised to seek to repeal most parts of the Affordable Care Act, which benefits hospitals by reducing the number of uninsured patients that use their services. Additionally, the Supreme Court today agreed to hear a lawsuit challenging the federal government's right to subsidize the health insurance premiums of Americans who buy health insurance through the federal exchange set up by the Act... The Justice Department sued to block the acquisition of Screenvision, which provides solutions related to cinema advertising, by movie theater ad network National CineMedia (NCMI), sending its stock lower. Movie theater operator Carmike Cinemas (CKEC), which owns a 19% “profits interest" in the holding company for Screenvision, also slid following the news. INDEXES: For the week, the Dow is up 1.04% to 17,573.93, the Nasdaq is up 0.03% to 4,632.53, and the S&P 500 is up 0.66% to 2,031.92.
16:00 EDTFBOptions Update; November 7, 2014
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10:00 EDTQCOMOn The Fly: Analyst Downgrade Summary
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09:36 EDTFBActive equity options trading
Active equity options trading according to Track Data: AAPL WFM ABX GILD TSLA ZNGA FB FSLR GOOG AMZN
07:59 EDTQCOMQualcomm downgraded to Sector Perform from Outperform at Scotia Capital
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November 6, 2014
17:17 EDTQCOMOn The Fly: Closing Wrap
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16:00 EDTFB, DOWOptions Update; November 6, 2014
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13:04 EDTQCOMEarnings Preview: Analysts positive on NVIDIA ahead of Q3 earnings report
NVIDIA (NVDA) is expected to report third quarter earnings after the close on Thursday, November 6, with a conference call scheduled for 5:00 pm ET. NVIDIA is a semiconductor manufacturer that produces graphics chips used in personal computers as well as mobile processors used in cell phones and tablets. EXPECTATIONS: Analysts are looking for earnings per share of 29c on revenue of $1.2B. The consensus range is 27c-31c for EPS on revenue of $1.2B-$1.22B, according to First Call. In its last earnings report, NVIDIA said it expects Q3 revenue of $1.2B, plus or minus 2%, which was higher than analysts' consensus of $1.16B at the time. LAST QUARTER: On August 6, NVIDIA reported second quarter EPS of 30c, which beat the consensus forecast of 20c, on revenue of $1.1B, which matched analysts consensus of $1.1B. COMPANY NEWS: On August 26, NVIDIA, VMWare (VMW) and Google (GOOG) announced a collaboration to deliver high-performance virtual desktops and workstation-class graphic on Google Chromebooks. The partnership is anticipated to broaden the hardware options for high-performance virtual desktops. On September 4, NVIDIA announced that it filed complaints against Samsung (SSNLF) and Qualcomm (QCOM) at the International Trade Commission and in the U.S. District Court in Delaware, alleging that the companies were both infringing NVIDIA GPU patents covering technology including programmable shading, unified shaders and multithreaded parallel processing. The identified Samsung products included the Galaxy Note Edge, Galaxy Note 4, Galaxy S5, Galaxy Note 3 and Galaxy S4 mobile phones and the Galaxy Tab S, Galaxy Note Pro and Galaxy Tab 2 computer tablets. STREET RESEARCH: On August 8, Needham upgraded NVIDIA to Buy from Hold. The firm believed that the change in the company's strategy reduced its earnings volatility and raised its margins, while the stock's decline has created a good entry point. The firm also noted that the company reported better than expected results and provided stronger than expected guidance. NVIDIA announced that it had filed graphics processing units patent infringement lawsuits against both Samsung and Qualcomm, Stifel said on September 5 that the lawsuits could at a minimum cause other companies to conclude licensing deals with NVIDIA. The firm kept a $22 price target and Buy rating on NVIDIA. After NVIDIA (NVDA) filed lawsuits against Qualcomm (QCOM) and Samsung, JMP Securities noted that there was a good chance that NVIDIA would obtain a favorable ruling or settlement that is equal or greater to the $1.5B deal it cut with Intel (INTC). The firm thought that other companies, most notably Apple (AAPL), would launch talks with NVIDIA in the wake of the lawsuit. JMP Securities recommended buying NVIDIA ahead of upcoming Apple product refreshes and what it sees as accelerating growth trends for NVIDIA. The firm was upbeat about NVIDIA's new products and reiterated an Outperform rating. Pacific Crest upgraded NVIDIA to Sector Perform from Underperform on November 3. The firm expected the company's share gains in high end desktop GPU and AMD's (AMD) product delays to enable NVIDIA's results to meet or exceed consensus estimates in the near to medium term. PRICE ACTION: Since issuing preliminary earnings on August 6, shares of NVIDIA are up over 12.5%. During late-morning trading, shares of NVIDIA are down fractionally to $20.02.
13:04 EDTQCOMOn The Fly: Midday Wrap
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12:04 EDTQCOMQualcomm plummets after results and guidance disappoint, FTC probe disclosed
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10:40 EDTQCOMQualcomm tumbles after results, guidance, FTC investigation
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09:40 EDTQCOMActive equity options trading
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09:36 EDTQCOMQualcomm downgraded to Neutral from Overweight at Atlantic Equities
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09:11 EDTQCOMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tesla (TSLA), up 0.6%... CBS (CBS), up 2.3%... Whole Foods (WFM) up 8.4%... American Capital (ACAS), up 9.5%... Horizon Pharma (HZNP) up 6.8%... Kate Spade (KATE), up 10%. ALSO HIGHER: Planar Systems (PLNR), up 70%, upgraded at Needham following the company's Q4 results... Tableau (DATA), up 9.8%, upgraded at RBC Capital following the company's Q3 earnings report... Allergan (AGN), up 1% after disclosing in new regulatory filing that discussions between the company and another unnamed party regarding a potential merger transaction have continued and "may lead to negotiations.” DOWN AFTER EARNINGS: Qualcomm (QCOM), down 6.9%... Zillow (Z), down 6.7%... PhotoMedex (PHMD), down 17.3%... Kulicke & Soffa (KLIC), down 7%... BioScrip (BIOS), down 5.8%. ALSO LOWER: Solazyme (SZYM), down 47%, downgraded at RW Baird, Pacific Crest and Cowen following the company's Q3 report... Genworth (GNW), down 23%, downgraded at Compass Point following the company's Q3 results... Cornerstone OnDemand (CSOD), down 19%, downgraded at various firms including William Blair and FBR Capital following the company's Q3 report.
09:09 EDTQCOM, QCOMQualcomm risk/reward remains attractive, says CLSA
CLSA believes Qualcomm's risk/reward is still attractive, especially given cash returns, despite the messy quarter. The firm rates said shares are inexpensive and reiterates its Outperform rating with a $85 price target, down from $90.
08:04 EDTQCOMQualcomm should be bought on weakness, says Stifel
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07:42 EDTQCOMQualcomm has limited risk, says Oppenheimer
After Qualcomm reported weaker than expected Q3 results and provided weaker than expected full-year guidance, Oppenheimer says the misses were due to multiple difficulties in China. But the firm believes that the stock is unlikely to fall much further, given what it sees as the company's strong technology foundation and ability to return significant amounts of funds to shareholders. The firm keeps an $84 price target and Outperform rating on the shares.
07:37 EDTQCOMQualcomm price target lowered to $80 from $89 at Brean Capital
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07:28 EDTQCOMQualcomm litigation issues to persist, says William Blair
William Blair attributes Qualcomm's weaker than expected results to headwinds in China related to the NDRC litigation and Chinese handset vendors continued unwillingness to pay the company royalties as well as the continuing mix shift toward low-end smartphones. The firm expects the litigation to persist in the near term, but sees "several reasons to remain positive in the long run." It keeps an Outperform rating on Qualcomm, saying the November 19 analyst day could be a catalyst for the stock.
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