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Stock Market & Financial Investment News

News Breaks
July 23, 2014
14:47 EDTBRCM, QCOM, AAPLEarnings 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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November 12, 2014
16:00 EDTAAPLOptions Update; November 12, 2014
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12:55 EDTQCOMNVIDIA says Samsung files counter-suit, patent infringement claims
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09:37 EDTAAPLActive equity options trading
Active equity options trading according to Track Data: AAPL CLSN TWTR BABA NFLX TSLA AMZN CSIQ C
06:36 EDTAAPLOrder visibility highest for Apple, Lenovo shipments in 2015, DigiTimes says
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November 11, 2014
16:01 EDTAAPLOptions Update; November 11, 2014
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13:09 EDTAAPLApple to face lawsuit on failed texts when switching to Android, Reuters says
Apple must face a U.S. federal lawsuit for failing to alert consumers that text messages may be interrupted after switching to an Android-based phone from an iPhone, says Reuters. Reference Link
09:55 EDTAAPLAlibaba, Apple working out details on partnership in China, WSJ reports
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09:37 EDTAAPLActive equity options trading
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08:15 EDTAAPLAlibaba says willing to collaborate with PayPal in future, Bloomberg reports
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07:35 EDTAAPLApple price target raised to $125 from $115 at UBS
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06:31 EDTAAPLApple making aggressive move into corporate market, Reuters says
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06:03 EDTAAPLQ4 global tablet shipments estimated at 74.5M units, DigiTimes reports
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November 10, 2014
16:00 EDTAAPLOptions Update; November 10, 2014
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12:42 EDTAAPLFireEye details hack attack found on Apple operating system
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12:39 EDTAAPLFireEye has uncovered iOS flaw that leaves devices vulnerable, CNBC reports
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09:35 EDTAAPLActive equity options trading
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07:34 EDTAAPLApple Pay seen making up 1% of Whole Foods transactions since launch, Dudas says
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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
06:27 EDTAAPLGT Advanced accuses Apple of 'bait-and-switch' in unsealed documents, WSJ says
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06:00 EDTAAPLApple implied volatility of 19 at lower end of index mean range
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