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Stock Market & Financial Investment News

News Breaks
April 1, 2014
11:11 EDTMRVL, QCOMMarvell rises after announcing plans to appeal patent decision
Shares of fabless semiconductor provider Marvell Technology (MRVL) are higher this morning after the company said it will appeal a district judge's order for the company to pay nearly $1.54B for breaching two hard disk drive patents held by Carnegie Mellon University. WHAT'S NEW: The U.S. District Court for the Western District of Pennsylvania yesterday rejected Marvell's motion to reduce a patent infringement jury award against it and added more than $366M to Carnegie Mellon University’s award, bringing it to $1.54B. That amount is higher than the $1.17B that a jury previously awarded CMU, but the judge rejected CMU's motion for an injunction which would block Marvell from selling chips that the jury found to be infringing. The judge also rejected CMU's demand for about $326M in pre-judgment interest and denied CMU’s bid for enhanced damages at a higher rate. WHAT'S NOTABLE: Marvell intends to appeal to the Federal Circuit Court of Appeals. Marvell and Marvell Semiconductor, its U.S. subsidiary, intend to argue to the Federal Circuit "that the patents at issue are invalid, that even if valid, Marvell did not infringe, and that the Court erred both in its calculation of the royalty rate and in its novel application of that rate to chips manufactured, sold, and used abroad." Marvell said it does not expect to record a liability on its financial statements and believes a material loss is not probable. ANALYST REACTION: MKM Partners thinks the ruling removes a major overhang on Marvell's stock. Additionally, the firm says concerns about competition Marvell is facing from Qualcomm (QCOM) and Mediatek are "overdone." MKM, which said it believes Marvell's revenue for the full year will beat the current consensus outlook, has a Buy rating and $19 price target on Marvell shares. PRICE ACTION: Marvell Technology shares are up 55c, or 3.5%, to $16.30 in late-morning trading.
News For MRVL;QCOM From The Last 14 Days
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July 23, 2014
13:53 EDTQCOMQualcomm technical commentary ahead of results
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11:33 EDTQCOMSamsung Ventures invests in BlueStacks, Business Insider reports
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10:02 EDTQCOMOn The Fly: Analyst Upgrade Summary
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07:37 EDTQCOMQualcomm July weekly volatility elevated into Q3 and outlook
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07:27 EDTQCOMQualcomm upgraded to Outperform from Market Perform at Northland
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July 22, 2014
15:41 EDTQCOMQualcomm replaces NVIDIA in newest Xiaomi Mi phone, TechInAsia reports
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15:39 EDTQCOMNVIDIA loses another Tegra socket to Qualcomm, says Pacific Crest
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12:19 EDTQCOMQualcomm advances after Cowen sees shares poised to break-out
Shares of Qualcomm (QCOM), which develops mobile device components, are climbing after research firm Cowen wrote that the stock is poised to break-out above its recent range. WHAT'S NEW: Qualcomm's stock is well-positioned to advance above the trading range it has stayed in over the past three months, Cowen analyst Timothy Arcuri wrote in a note to investors earlier today. The company's Q3 results, due to be announced on July 23, should be in-line with or better than expectations, the analyst predicted. The company's QCT business unit - which provides solutions for smart connected devices - likely exceeded expectations last quarter, driven by gains in LTE technologies, according to Arcuri. Meanwhile, he believes that Qualcomm's technology licensing business should generate results at the high end of the unit's total available market, as its revenue from licensing technology for devices using the CDMA standard appears to have exceeded the high end of its guidance. Qualcomm's Q4 guidance could exceed expectations and the company's revenue growth may accelerate to double digit percentage levels, the analyst forecast. Furthermore, Qualcomm's profits are likely to be boosted by cost cutting and higher margins in its QCT business, Arcuri predicted. He kept an $86 price target and Outperform rating on the shares. PRICE ACTION: In early afternoon trading, Qualcomm climbed $2, or 2.5%, to $81.69.
08:24 EDTQCOMQualcomm poised to break out of trading range, says Cowen
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July 18, 2014
10:11 EDTQCOMQualcomm July weekly volatility elevated into Q3 and revenue outlook
Qualcomm July weekly call option implied volatility is at 32, August is at 20, September, October and January is at 17; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on July 23.
July 16, 2014
11:29 EDTQCOMIntel hits 52-week high after results beat estimates
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July 15, 2014
07:50 EDTQCOMQualcomm estimates adjusted to reflect inventory transition, says Canaccord
Canaccord adjusted its estimates for Qualcomm to reflect an ongoing inventory transition in China from 3G to 4G devices. The firm continues to expect strong growth of smartphones, the upgrade to new air interface technologies, and strong market share gains to drive sales and earnings growth. Qualcomm shares are Buy rated with a $95 price target.
06:11 EDTQCOMSamsung, HiSilicon to sell more handset solutions to vendors, DigiTimes says
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July 14, 2014
10:00 EDTQCOMOn The Fly: Analyst Downgrade Summary
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08:16 EDTQCOMQualcomm downgraded to Neutral from Strong Buy at ISI Group
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July 11, 2014
12:46 EDTQCOMQualcomm downgraded to Buy from Strong Buy at Tigress Financial
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10:00 EDTQCOMOn The Fly: Analyst Downgrade Summary
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09:09 EDTQCOMOn The Fly: Pre-market Movers
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07:36 EDTQCOMQualcomm downgraded to Buy from Conviction Buy at Goldman
Goldman removed Qualcomm from the Conviction Buy List as it does not expect material near-term upside to Street estimates sees some risk of downside. The firm trimmed estimates for both the June and September quarters due to weaker handset demand but maintains its Buy rating and $95 price target based on relative valuation and growth profile.
07:35 EDTQCOMQualcomm questioned again in Chinese anti-trust probe, Xinhua says
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