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Stock Market & Financial Investment News

News Breaks
April 1, 2014
11:11 EDTQCOM, MRVLMarvell 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 2, 2015
16:04 EDTQCOMOptions Update; July 2, 2015
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June 30, 2015
06:07 EDTQCOMQualcomm not planning spinoff of chips business, Reuters reports
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June 29, 2015
11:07 EDTQCOMQualcomm heads for a test of its 52-week low, levels to watch
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11:03 EDTQCOMAnalyst says sell Qualcomm ahead of predicted price cuts
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10:09 EDTQCOMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Assured Guaranty (AGO) downgraded to Neutral from Buy at BTIG... Capital Bank (CBF) downgraded to Hold from Buy at Sandler O'Neill... F5 Networks (FFIV) downgraded to Neutral from Overweight at Piper Jaffray... First BanCorp (FBP) downgraded to Neutral from Buy at Guggenheim... Gannett (GCI) downgraded to Hold at Jefferies following spin-off... IBERIABANK (IBKC) downgraded to Hold from Buy at Sandler O'Neill... JPMorgan (JPM) downgraded to Perform from Outperform at Oppenheimer... KYTHERA (KYTH) downgraded to Market Perform from Outperform at Leerink... MBIA (MBI) downgraded to Neutral from Buy at BTIG... Macy's (M) downgraded to Sell from Buy at Deutsche Bank... MarketAxess (MKTX) downgraded to Underperform from Neutral at Macquarie... Nutrisystem (NTRI) downgraded to Market Perform from Outperform at Barrington... Park Sterling Bank (PSTB) downgraded to Hold from Buy at Sandler O'Neill... Popular (BPOP) downgraded to Neutral from Buy at Guggenheim... Qualcomm (QCOM) downgraded to Sell from Hold at Drexel Hamilton... SunTrust (STI) downgraded to Perform from Outperform at Oppenheimer... Ternium (TX) downgraded to Neutral from Buy at BofA/Merrill... Xoom (XOOM) downgraded to Neutral at Susquehanna... Youku Tudou (YOKU) downgraded to Underperform from Neutral at Mizuho.
08:14 EDTQCOMQualcomm downgraded to Sell from Hold at Drexel Hamilton
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08:01 EDTMRVLMarvell's IoT platform selected by iHome
Marvell announced that SDI Technologies has selected Marvell's EZ-Connect IoT platform and SDK to power its iHome iSP5 SmartPlug.
07:21 EDTQCOMQualcomm downgraded to Sell from Hold at Drexel Hamilton
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June 28, 2015
12:47 EDTQCOMTech sector earnings 'melt away' when accounting for stock comp, Barron's says
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June 25, 2015
19:34 EDTQCOMAirbus, Qualcomm, others invest $500M in OneWeb's global internet initiative
OneWeb announced it has raised $500M in funding from a number of companies, including Airbus (EADSY), Bharti, EchoStar's (SATS) Hughes, Intelsat (I), Qualcomm (QCOM), Coca-Cola (KO), Totalplay, and Virgin Group. OneWeb is engaged in developing satellite technologies to "beam" broadband internet to rural and underdeveloped locations, as well as to ships, planes, trains, and oil platforms. Bharti chairman Sunil Bharti Mittal will be joining Airbus Group CEO Tom Enders as well as Virgin's Richard Branson and Qualcomm's Paul Jacobs on the OneWeb board of directors. OneWeb also reiterated its June 15 announcement of its joint venture with Airbus to design and manufacture 900 microsatellites. "We are committed to giving our full industrial and space expertise to this mission," remarked Airbus' Tom Enders. "Intelsat has the world’s largest fleet of Ku Band geostationary satellites and our interoperability will enable pole-to-pole and urban canyon coverage with new services," said Intelsat. Note that both Facebook (FB) and Google (GOOG) are working on similar projects to facilitate global internet access. Reference Link
08:19 EDTMRVLCiti names Rambus top buy in Specialty Semiconductors
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June 24, 2015
17:57 EDTQCOMWall Street applauds Senate giving go-ahead for 'fast track' trade powers
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09:11 EDTQCOMApplied Micro an affordable target for Qualcomm, says Summit Research
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June 23, 2015
17:21 EDTQCOMSemiconductor Manufacturing, Qualcomm form joint venture to focus on 14nm tech
Earlier on Tuesday, Semiconductor Manufacturing International (SMI), Huawei, imec, and Qualcomm Global Trading -- an affiliate of Qualcomm (QCOM) -- announced the formation of SMIC Advanced Technology Research & Development, an equity joint venture company. The joint venture company will focus on R&D towards next generation CMOS logic technology and an advanced integrated circuit development R&D platform. SMIC Advanced Technology R&D will be majority owned by SMIC, while Huawei, imec, and Qualcomm will be minority shareholders. "By enabling fabless semiconductor companies to join the development process as shareholders, the product development cycle can be shortened and the advanced process node tape out time can be accelerated," said the statement. In the first phase, the joint venture will develop 14 nanometer CMOS technology for mass production, which will be based on imec's expertise. The project will be done at SMIC's production line. SMIC will have the rights to license the required intellectual property rights on the mass production technologies of advanced nodes developed by the joint venture company.
June 22, 2015
17:55 EDTQCOMITC staff supports clearing Samsung, Qualcomm, in NVIDIA case, Bloomberg says
The U.S. International Trade Commission staff recommends that Samsung Electronics (SSNLF) and Qualcomm (QCOM) be absolved of patent-infringement accusations brought by Nvidia (NVDA), Bloomberg reports. Reference Link
June 19, 2015
05:52 EDTQCOMStocks with implied volatility movement; AMZN QCOM
Stocks with implied volatility movement; Amazon.com (AMZN) 24, Qualcomm (QCOM) 19 according to iVolatility.
June 18, 2015
10:19 EDTQCOMQualcomm calls active
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05:50 EDTMRVLMarvell upgraded to Neutral from Sell at Goldman
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