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Stock Market & Financial Investment News

News Breaks
July 23, 2014
14:47 EDTQCOM, AAPL, BRCMEarnings Preview: Qualcomm reports after Goldman takes off 'Conviction Buy' list
Qualcomm (QCOM) is expected to report third quarter earnings after the close on Wednesday, July 23, with a conference call scheduled for 5:45 pm ET. Qualcomm is a semiconductor manufacturer whose products are used in mobile phones, tablets, PCs and other electronics. EXPECTATIONS: Analysts are looking for earnings per share of $1.22 on revenue of $6.52B. The consensus range is $1.18-$1.25 for EPS on revenue of $6.28B-$6.74B, according to First Call. In its last earnings report, Qualcomm said it expects Q3 adjusted EPS of $1.15-$1.25 on revenue of $6.2B-$6.8B. At that time, the company also raised its FY14 adjusted EPS view to $5.05-$5.25 from $5.00-$5.20. The consensus forecast for FY14 EPS prior to the guidance hike was $5.13, though it has since moved up to $5.17. Qualcomm guided to FY14 revenue of $26B-$27.5B, which compared to consensus at the time of $26.8B and current consensus of $26.66B. LAST QUARTER: On April 23, Qualcomm reported Q2 adjusted EPS of $1.31, which was above the consensus analyst forecast of $1.22. Its revenue of $6.4B, however, missed the consensus expectation of $6.48B. Qualcomm also disclosed in a regulatory filing at that time that the company received a "Wells Notice" from the SECís Los Angeles Regional Office indicating that the staff has made a preliminary determination to recommend that the SEC file an enforcement action against the company for violations of the anti-bribery, books and records and internal control provisions of the Foreign Corrupt Practices Act. NEWS: On June 2, Qualcomm competitor Broadcom (BRCM) said it will explore strategic options for its cellular baseband business, including a possible sale or wind-down, and has hired hired JPMorgan (JPM) to advise in the effort. After Broadcom's announcement, Sterne Agee said it thought the wind down of the unit improves Qualcomm's positioning and that it also expects Avago (AVGO) and Skyworks (SWKS) to benefit from Broadcom's move. Earlier this month, Qualcomm announced that it has completed its acquisition of Wilocity, a company that works in development of 60 GHz wireless chipsets based on the IEEE 802.11ad standard, also known as WiGig technology. Financial terms of the transaction were not disclosed. The company also announced it is delivering a family of tri-band platforms that combine Qualcomm Atherosís Wi-Fi and WiGig solutions. STREET RESEARCH: On July 11, Goldman removed Qualcomm from its "Conviction Buy" list as it does not expect material near-term upside to Street estimates and sees some risk of downside. The firm trimmed estimates for both the June and September quarters due to weaker handset demand, but maintained its Buy rating and $95 price target based on the stock's relative valuation and the company's growth profile. That same day, Qualcomm was also downgraded to Buy from Strong Buy at Tigress Financial and three days later Qualcomm was downgraded to Neutral from Strong Buy at ISI Group. However, in a note to investors yesterday, Cowen analyst Timothy Arcuri wrote that Qualcomm's stock is well-positioned to advance above the trading range it has stayed in over the past three months. The company's Q3 results 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. He kept an $86 price target and Outperform rating on the shares. This morning, Qualcomm was upgraded to Outperform from Market Perform at Northland. WHAT'S NOTABLE: Yesterday night, one of Qualcomm's most significant customers, Apple (AAPL), provided sales guidance for its new quarter that was below expectations. Some Wall Street analysts speculated that the lower than expected, and wider than normal, revenue guidance range may be due to Apple planning to launch its new iPhone 6 late in the quarter, possibly at the very end of September. PRICE ACTION: Shares of Qualcomm declined about 3.5% on the first day of trade following its Q2 report. Since April 24, shares of Qualcomm are up about 1.5%. In early afternoon trading ahead of its Q3 report tonight, Qualcomm was up 0.5% to just under $82 per share.
News For QCOM;BRCM;AAPL From The Last 14 Days
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February 23, 2015
09:39 EDTAAPLActive equity options trading on open
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09:04 EDTAAPLApple volatility flat as shares near record
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07:29 EDTAAPLJapan Display asking Apple to finance new smartphone screen plant, Reuters says
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06:21 EDTAAPLFacebook's shuttle drivers approve new union contract, WSJ reports
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06:11 EDTQCOMStocks with implied volatility below IV index mean; FOSL QCOM
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06:04 EDTAAPLApple to publicly beta test iOS update, Re/code says
Apple plans to allow consumers to test the next update for its iOS mobile operating system, reports Re/code. The beta test will be available mid-March through the company's Apple Seed program. Reference Link
05:29 EDTAAPLApple to invest EUR 1.6B in new European data centers
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05:27 EDTAAPLApple to invest EUR 1.6B in new European data centers
February 22, 2015
17:25 EDTQCOMChip designer CEVA takes on Qualcomm in China, Bloomberg says
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17:11 EDTAAPLApple could reach $160 in a year, Barron's says
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15:11 EDTAAPLApple increases capabilities in industrial lithium-ion batteries, Reuters says
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February 20, 2015
16:48 EDTAAPLDow, S&P 500 finish week at record highs after Greek deal reached
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16:03 EDTAAPLOptions Update; February 20, 2015
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11:47 EDTQCOMQualcomm mentioned positively at Pacific Crest
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11:02 EDTAAPLApple electric car could be 'iPhone of the Future,' says Cantor
Cantor Fitzgerald analyst Brian White says he believes an electric car from Apple has the potential to be the "iPhone of the Future." White, in a note to investors today, added that he doubts Apple's reach will stop there. He believes the personal robot category offers "great potential over the next decade and fits well with Apple's skill set." White thinks the reports of an electric car show innovation at the tech giant continues. He keeps a Buy rating Apple shares with a $160 price target. The stock is up 30c it morning trading to $128.71.
11:00 EDTAAPLApple electric car could be 'iPhone of the Future,' sys Cantor
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09:38 EDTAAPLActive equity options trading on open
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06:41 EDTAAPLApple pushing for 2020 production of its electric car, Bloomberg says
Apple (AAPL) is pushing to begin production of its electric vehicle as soon as 2020, reports Bloomberg, citing people with knowledge of the matter. Bloomberg notes that the move could put Apple into direct competition with Tesla (TSLA) and General Motors (GM), both of which are targeting a 2017 release for next-generation electric vehicles. Apple may still cancel the project if it becomes unhappy with progress, the sources said, though its vehicle team is already 200-people strong. Reference Link
06:20 EDTAAPLApple price target raised to $145 on increasingly bullish outlook at Goldman
Goldman raised Buy rated Apple's price target to $145 from $130 based on increased confidence in platform momentum, sustained iPhone growth, and the potential for the Apple Watch. The firm believes risk/reward is more balanced following the recent 20% upside move but sees further upside given the aforementioned factors and the near-term catalysts from the April watch launch, updates on capital allocation, and a likely March quarter beat.
04:50 EDTQCOMStocks with implied volatility movement; QCOM KO
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