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Stock Market & Financial Investment News

News For KORS;NTWK;FOSL;AVP;BCS;ZIOP;VAL;LVLT;BYD;FB;QCOM From The Last 14 Days
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July 23, 2015
09:13 EDTQCOMOn The Fly: Pre-market Movers
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08:48 EDTKORSMichael Kors downgraded to Neutral from Buy at Buckingham
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08:37 EDTBCSBarclays announces strategic partnership with Elkhorn Capital
Barclays announced a strategic partnership with Illinois-based investment firm Elkhorn Capital Group. The partnership is designed to extend Barclays’ product availability by bringing together its extensive experience in creating distinctive investment concepts with Elkhorn’s independent product expertise. The partnership will allow Barclays and Elkhorn to collaborate in offering clients access to additional products based on Barclays’ strategies.
08:02 EDTQCOMWilliam Blair 'running out of patience' with Qualcomm
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07:50 EDTQCOMQualcomm split would be positive, says RBC Capital
RBC Capital believes that Qualcomm is more open to splitting its business, and the firm says that it would view a split positively. The firm says that splitting the company into two businesses with cross-licensing deals would make its units "more agile and flexible." RBC thinks that the company must split in order to carry out major strategic changes, including "transformational M&A" and TAM expansion. It keeps a $77 price target and Outperform rating on the shares.
07:50 EDTQCOMQualcomm weakness a buying opportunity, says BofA/Merrill
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06:38 EDTFBFacebook July weekly volatility increasing into Q2 and outlook
Facebook 7/31/15 weekly call option implied volatility is at 60, August is at 40, September is at 34; compared to its 52-week range of 19 to 48, suggesting large near term price movement into the expected release of Q2 results on July 29.
July 22, 2015
23:09 EDTFBFormer MTV executive joins YouTube as VP of originals, Variety says
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19:02 EDTQCOMOn The Fly: After Hours Movers
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17:51 EDTQCOMQualcomm sees FY16 QCT margins 'significantly improved'
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17:21 EDTQCOMQualcomm lowers FY15 total reported device sales to approximately $253B-$259B
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17:17 EDTQCOMQualcomm sees Q4 MSM chip shipments 170M-190M
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17:15 EDTQCOMQualcomm says inventory build expected to hurt chip sales in Q4
The company said, "We have reduced our outlook for our semiconductor business, QCT, in the fiscal fourth quarter compared to our prior expectations driven primarily by factors impacting premium-tier demand, including: Increased concentration within the premium tier causing reduced demand for certain OEM devices that include our chipset; Lower demand for our premium-tier chipsets from a vertical customer; and Lower sell through in China of certain handset models using our premium-tier chipsets."
17:10 EDTQCOMQualcomm says expects to grow businesses in China going forward
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17:00 EDTQCOMQualcomm says will continue to spend over $4B annually on R&D
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16:48 EDTQCOMQualcomm to reduce full-time headcount by 15%
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16:09 EDTQCOMQualcomm provides details of Strategic Realignment Plan
The details of the Qualcomm Strategic Realignment Plan are as follows: 1) Aggressively right-sizing the cost structure to deliver profitable growth. Qualcomm is implementing a comprehensive cost reduction action to reduce annual costs from its fiscal 2015 levels of $7.3 billion (adjusted for variable compensation) by approximately $1.1 billion through a series of targeted reductions that will not jeopardize the Company's growth objectives or core technology roadmap. These cost initiatives include reductions in headcount and temporary workforce, streamlining the engineering organization, reducing the number of offices and increasing the mix of resources in lower-cost regions. The Company is also reducing annual share-based compensation grants by approximately $300 million. While these specific cost initiatives are expected to be fully implemented by the end of fiscal year 2016, the Company will continue to examine its cost structure for additional efficiencies that enhance profitability without sacrificing its future growth potential. 2) Initiating new review of financial and structural alternatives available to create stockholder value. In light of recent industry developments and other elements of the Strategic Realignment Plan, Qualcomm's Board and management, with the assistance of outside financial advisors, are conducting a review of the Company's corporate structure (including possible business separation alternatives), capital return opportunities and other potential strategic and financial alternatives available to the Company to create stockholder value. The Company does not expect to publicly comment on this review prior to its completion, which is expected to occur by the end of the calendar year. 3) Reaffirming intent to return significant capital to stockholders. A strong balance sheet and regulatory resolution in China have provided Qualcomm the flexibility to significantly increase its capital returns to stockholders and execute the largest capital returns program in Company history. Qualcomm is committed to continuing to return a minimum of 75% of free cash flow to stockholders through dividends and repurchases going forward, in addition to the previously announced $10 billion stock repurchase program to be completed by March 2016. Changes to the capital return program will be considered as part of the Board and management's review of financial and structural alternatives. 4) Adding new Directors with complementary skill sets while reducing the average tenure of the Board of Directors. Mark McLaughlin and Tony Vinciquerra have been added to the Board and the Company plans to appoint one additional independent director. These directors bring skills and perspectives that will be helpful to the Company as it implements its Strategic Realignment Plan. The Company is also reducing the average tenure of the Board of Directors. General Brent Scowcroft and Duane Nelles have retired from the Board. Sir Donald Cruickshank had previously informed the Company that he will not stand for re-election to the Board in 2016. Raymond Dittamore has advised the Company that, assuming he is re-elected to the Board at the Company's 2016 Annual Meeting of Stockholders, he does not intend to stand for re-election in 2017. 5) Further aligning executive compensation with performance and stockholder return objectives. The Board plans to change Qualcomm's executive compensation program by adding an additional returns-based metric for performance-based equity awards and taking share-based compensation provided to the Company's executives and other employees into account when calculating earnings per share for use in determining executives' annual cash bonuses. 6) Disciplined investment to further leadership positions and drive growth while delivering attractive returns. The Company intends to focus its investments in technologies that scale across core smartphone and adjacent growth opportunities, such as in its leading modem and other differentiated technologies. Qualcomm is reducing its investments outside of QTL and QCT and will focus these investments around the highest-return opportunities, including data centers, small cells and certain IoE verticals.
16:06 EDTQCOMQualcomm lowers FY15 adjusted EPS view to $4.50-$4.70 from $4.60-$5.00
FY15 consensus $4.79. Lowers FY15 revenue view to $24.5B-$25.5B from $25B-$27B, consensus $25.95B.
16:04 EDTQCOMQualcomm sees Q4 adjusted EPS 75c-95c, consensus $1.08
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16:03 EDTQCOMQualcomm announces strategic realignment plan
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