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Stock Market & Financial Investment News

News For QCOM;NXPI;BRCM From The Last 14 Days
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April 17, 2015
11:16 EDTQCOMRumor: Qualcomm active on activist investor speculation
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08:54 EDTBRCMBofA/Merrill U.S. semiconductor analysts holds analyst/industry conference call
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April 15, 2015
09:55 EDTNXPIBofA/Merrill U.S. autos analysts hold an analyst/industry conference call
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06:35 EDTQCOM, BRCMSamsung says Galaxy S6 demand much stronger than expected, Reuters reports
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April 14, 2015
10:48 EDTQCOMAnalysts differ on Qualcomm after activist JANA presses for change
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10:01 EDTQCOMOn The Fly: Analyst Upgrade Summary
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08:12 EDTQCOMQualcomm businesses worth more together than apart, says Bernstein
After activist investor JANA Partners took a stake of over $2B in Qualcomm and advocated separating the company's chipset and licensing businesses, Bernstein disagrees with JANA, saying that the two businesses are probably worth much more together than they are apart. Bernstein is cautious about the long-term outlook of Qualcomm's business and keeps a Market Perform rating on the shares.
06:25 EDTQCOMQualcomm upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill upgraded Qualcomm to Buy and maintained its $80 price target citing valuation. The firm said negatives are widely known and positives include stabilizing royalty trends, potential margin improvement, and capital returns.
April 13, 2015
16:21 EDTQCOMOn The Fly: Top stock stories for Monday
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13:26 EDTQCOMOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow and S&P 500 slightly lower and the Nasdaq clinging to a narrow gain. The broader market opened in positive territory and the averages moved in a narrow trading range during the morning. The Nasdaq has been the strongest of the indices since the open, though early gains from Apple (AAPL) and Qualcomm (QCOM) had evaporated by near midday, taking a bite out of the gains the index had been seeing earlier in the session. ECONOMIC EVENTS: In the U.S., no major economic data was released. In China, export sales unexpectedly contracted 15% in March, while imports shrank 12.7% last month from a year ago. The March fall in imports was in line with forecasts, unlike the one for exports, which were expected to rise 12%. COMPANY NEWS: Activist investor Jana Partners is putting pressure on Qualcomm to increase stock buybacks and take other actions to increase shareholder value, including an exploration of spinning off its chip unit from its patent-licensing unit. In response to statements made by JANA, Qualcomm noted that it recently increased its stock repurchase authorization to $15B and repeated that it plans to repurchase $10B of common stock within one year. Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher... Apple shares were rising early in the trading day but had given up their gains by midday. Pre-orders of its new Apple Watch started Friday. The company did not release any sales figures for the first weekend, but research firm Slice Intelligence estimated that nearly one million customers in the U.S. preordered the device on the first day it was available. MAJOR MOVERS: Among the notable gainers were Alamos Gold (AGI), which rose 6%, and AuRico Gold (AUQ), which rose 7%, after the companies announced an agreement to combine via "a merger of equals" with a transaction equity value of about $1.5B. Upon completion of the deal, former Alamos and AuRico shareholders will each own approximately 50% of the new Alamos Gold and a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project and some other assets. The newly formed company will own a 4.9% equity interest in the spinoff and the remaining "SpinCo" shares will be distributed 50% each to former Alamos and AuRico shareholders. Also higher was Builders FirstSource (BLDR), which gained 65% after announcing that it has entered into an agreement to acquire ProBuild Holdings in an all-cash transaction valued at about $1.63B. Among the noteworthy losers was Basic Energy (BAS), which fell 8% after Raymond James downgraded the stock to Market Perform based on valuation, substantial pricing pressure, and industry overcapacity. Also lower were U.S.-listed shares of Sina (SINA), which dropped 5% after the Financial Times reported that China's government has warned that it will shut down the company's service if it does not "improve censorship." INDEXES: Near midday, the Dow was down 19.08, or 0.11%, to 18,038.57, the Nasdaq was up 7.93, or 0.16%, to 5,003.91, and the S&P 500 was down 3.04, or 0.14%, to 2,099.02.
13:13 EDTQCOMQualcomm bases after falling from session highs, levels to watch
Shares gapped-up this morning but have since turned negative on the day, trading last at $68.99. At that price next support is at $67.74. Resistance is at $69.46, the descending 50-day moving average resistance line.
13:01 EDTQCOMQualcomm repeats call to buy back $10B in stock within one year
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12:59 EDTQCOMQualcomm 'committed' to ongoing return of capital to stockholders
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12:56 EDTQCOMQualcomm to repurchase $10B of common stock within one year
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12:51 EDTQCOMQualcomm responds to statements by JANA Partners
In response to statements made by JANA Partners, Qualcomm issued the following statement at an investor conference this morning: "Qualcomm welcomes input from our stockholders, including JANA Partners, and we are firmly committed to maintaining an active dialogue with all stockholders and to acting in their best interests. Our opportunities remain strong. Our innovations have made smartphones the most pervasive technology of our time. They come to market through our inclusive licensing program and our cutting-edge chipsets and continue to play an integral role in the expansion of the mobile industry. We are now bringing the benefits of mobile technologies to new areas such as automotive, healthcare, networking, smart homes, smart cities, and wearables among others. Our business continues to generate strong operating cash flows, and we are committed to the ongoing return of capital to stockholders while retaining the financial flexibility to execute on our business plans. We recently significantly increased our stock repurchase authorization to $15 billion, one of the largest capital return programs in the sector. We plan to repurchase $10 billion of common stock within one year in addition to our current capital return commitments. Since inception, we have exceeded our minimum capital return target of 75% of free cash flow. Our Board of Directors and management periodically review our corporate structure. Prior reviews have concluded that the synergies provided by our business model create more value for stockholders than could be created through alternative corporate structures. We will continue to evaluate opportunities to enhance stockholder value and are committed to pursuing the right course of action for all of our stockholders."
10:19 EDTQCOMRosenstein says Qualcomm buyback should be done before moves
Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher.
10:16 EDTQCOMJANA's Rosenstein says not definitively recommending Qualcomm split
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10:15 EDTQCOMJANA's Rosenstein says 'convinced' Qualcomm board recognizes issues
Barry Rosenstein of JANA Partners is speaking on CNBC.
10:14 EDTQCOMJANA's Rosenstein says talks with Qualcomm 'very constructive'
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10:04 EDTBRCMBroadcom calls active on renewed takeover chatter
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09:52 EDTBRCMRumor: Broadcom strength attributed to renewed takeover speculation
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09:34 EDTQCOMActive equity options trading on open
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09:29 EDTQCOMQualcomm moves higher after activist Jana Partners urges breakup
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07:32 EDTQCOMCerner, Qualcomm announce home health monitoring collaboration
Cerner (CERN) and Qualcomm Life, a subsidiary of Qualcomm (QCOM), announced an agreement to extend Cerner's medical device connectivity capabilities beyond the hospital to the home. Cerner will leverage Qualcomm Life's FDA listed 2net Platform and Hub to seamlessly capture data from medical devices and sensors within a patient's home, and transmit it to Cerner health care clients through Cerner's CareAware device connectivity platform. Through this initiative, care providers can remotely monitor chronically ill patients in near real-time to enable proactive engagement to potentially reduce the risk of an acute care episode.
07:31 EDTQCOMCerner and Qualcomm Life announce collaboration agreement
Cerner (CERN) and Qualcomm Life, a subsidiary of Qualcomm (QCOM), announced an agreement to extend Cerner's industry medical device connectivity capabilities beyond the hospital to the home. Cerner will leverage Qualcomm Life's FDA listed 2net Platform and Hub to seamlessly capture data from medical devices and sensors within a patient's home, and transmit it to Cerner health care clients through Cerner's CareAware® device connectivity platform.
07:20 EDTQCOMQualcomm volatility up into Jana Partners urging company to consider breakup
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06:12 EDTQCOMJana urges Qualcomm to consider breakup, WSJ reports
Activist investor Jana Partners is putting pressure on Qualcomm to consider a breakup and other options to increase the company's stock price, The Wall Street Journal reports. According to a quarterly letter to Jana investors reviewed by the publication, Jana, which is one of Qualcomm's largest shareholders, wants Qualcomm to consider spinning off its chip unit from its patent-licensing unit. Additionally, the investor wants the company to increase stock buybacks, cut costs and make changes to its board of directors, financial reporting and executive pay structure. Reference Link
April 10, 2015
08:52 EDTNXPINXP Semiconductors price target raised to $120 from $95 at Stifel
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05:31 EDTNXPINXP Semiconductors signs agreement with Nanyang Technological University
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April 9, 2015
10:00 EDTBRCMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Adobe (ADBE) initiated with an Overweight at Stephens... Aimco (AIV) initiated with a Neutral at Janney Capital... Akamai (AKAM) initiated with a Hold at Deutsche Bank... Anadarko (APC) initiated with an Outperform at BMO Capital... Apache (APA) initiated with a Market Perform at BMO Capital... Arista Networks (ANET) initiated with a Neutral at Wedbush... AvalonBay (AVB) initiated with a Neutral at Janney Capital... BioScrip (BIOS) initiated with a Buy at Craig-Hallum... Brinker (EAT) initiated with a Buy at Longbow... Broadcom (BRCM) initiated with a Buy at Ladenburg... Camden Property (CPT) initiated with a Neutral at Janney Capital... Canadian National (CNI) initiated with an Overweight at Atlantic Equities... Canadian Pacific (CP) initiated with an Overweight at Atlantic Equities... Cancer Genetics (CGIX) initiated with a Buy at Janney Capital... Denny's (DENN) initiated with a Buy at Longbow... Equity Residential (EQR) initiated with a Neutral at Janney Capital... Essex Property Trust (ESS) initiated with a Neutral at Janney Capital... Fifth Third (FITB) initiated with a Buy at Evercore ISI... Garrison Capital (GARS) initiated with a Buy at Maxim... GrubHub (GRUB) initiated with a Hold at Wunderlich... Hess Corp. (HES) initiated with a Market Perform at BMO Capital... Home Properties (HME) initiated with a Buy at Janney Capital... Huntington Bancshares (HBAN) initiated with a Buy at Evercore ISI... Intersect ENT (XENT) initiated with a Buy at CRT Capital... Jack in the Box (JACK) initiated with a Neutral at Longbow... KeyCorp (KEY) initiated with a Hold at Evercore ISI... LogMeln (LOGM) initiated with a Neutral at JPMorgan... Marathon Oil (MRO) initiated with a Market Perform at BMO Capital... Marvell (MRVL) initiated with an Outperform at Cowen... Masonite (DOOR) initiated with an Outperform at Macquarie... Mid-America Apartment (MAA) initiated with a Buy at Janney Capital... Natures Sunshine Products (NATR) initiated with an In-Line at Imperial Capital... Nielsen (NLSN) initiated with an Outperform at Telsey Advisory... Plug Power (PLUG) initiated with an Equal Weight at Morgan Stanley... Post Properties (PPS) initiated with a Neutral at Janney Capital... QTS Realty Trust (QTS) initiated with a Buy at Evercore ISI... Rentrak (RENT) initiated with an Outperform at Telsey Advisory... RiceBran (RIBT) initiated with a Buy at Maxim... StarTek (SRT) initiated with a Buy at Lake Street... Tribune Media (TRCO) initiated with an Outperform at Wells Fargo... TrueCar (TRUE) initiated with a Hold at Wunderlich... UDR, Inc. (UDR) initiated with a Neutral at Janney Capital... comScore (SCOR) initiated with a Market Perform at Telsey Advisory.
09:10 EDTBRCMBroadcom initiated with a Buy at Ladenburg
Target $51.
09:06 EDTBRCMIntel ends talks to acquire Altera, CNBC's Faber reports
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April 7, 2015
06:20 EDTQCOMQualcomm likely to get back into Galaxy phones, says Citigroup
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April 6, 2015
12:44 EDTQCOMOn The Fly: Midday Wrap
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11:10 EDTQCOMNVIDIA reports favorable ITC ruling in patent fight with Qualcomm, Samsung
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10:39 EDTQCOM, BRCM, NXPIQualcomm falls amid uncertainty about content in flagship Samsung phone
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10:02 EDTQCOMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AGCO (AGCO) downgraded to Sell from Hold at Deutsche Bank... CONSOL (CNX) downgraded to Hold from Buy at Deutsche Bank... Catamaran (CTRX) downgraded to Market Perform from Outperform at BMO Capital... Comerica (CMA) downgraded to Neutral from Buy at Guggenheim... Gannett (GCI) downgraded to Market Perform from Outperform at FBR Capital... Magnum Hunter (MHR) downgraded to Hold from Buy at Wunderlich... Qualcomm (QCOM) downgraded to Market Perform from Outperform at FBR Capital... Regions Financial (RF) downgraded to Neutral from Buy at Guggenheim... SAP (SAP) downgraded at Wells Fargo... Sanderson Farms (SAFM) downgraded to Underweight from Sector Weight at KeyBanc... Scorpio Tankers (STNG) downgraded to Neutral from Accumulate at Global Hunter... Simpson Manufacturing (SSD) downgraded to Neutral from Buy at DA Davidson... Skyworks (SWKS) downgraded at Stephens... TripAdvisor (TRIP) downgraded to Hold from Buy at Needham... Western Union (WU) downgraded to Neutral from Positive at Susquehanna... Zillow Group (Z) downgraded to Equal Weight from Overweight at Barclays.
09:22 EDTQCOMOn The Fly: Pre-market Movers
HIGHER: Uniqure (QURE), up 44.2% following strategic collaboration with Bristol-Myers (BMY)... Cytori Therapeutics (CYTX), up 22.4% after Lorem Vascular receives regulatory clearance in China... Curis (CRIS), up 8.5% after FDA grants orphan drug designation to CUDC-907 for the treatment of Diffuse Large B-Cell Lymphoma... Capnia (CAPN), up 5.9% after being awarded a $220,000 NIH grant... Tesla (TSLA), up 3.8% after reporting first quarter deliveries up 55% to 10,030 cars... Ariad (ARIA), up 3.4% following approval of Iclusig in Canada... Lumber Liquidators (LL), up 3.1% after being upgraded to Outperform from Market Perform at Raymond James. LOWER: Magnum Hunter (MHR), down 8.9% after being downgraded to Hold from Buy at Wunderlich... Herbalife (HLF), down following CNBC report that federal law enforcement agencies contacted the company regarding its business practices... Qualcomm (QCOM), down 2.2% following a Wall Street Journal report that the Samsung (SSNLF) Galaxy S6 did not have a Qualcomm LTE modem... Skyworks (SWKS), down 2.1% after being downgraded to Equal Weight from Overweight at Stephens.
09:09 EDTQCOMQualcomm trades lower in pre-market
The stock is down more than 2.4% at time of writing to $66.31 following an WSJ article that noted the Samsung Galaxy S6 did not use a Qualcomm-developed wireless modem. Next support is at $65.68.
06:45 EDTQCOMQualcomm downgraded to Market Perform from Outperform at FBR Capital
FBR Capital downgraded Qualcomm (QCOM) to Market Perform, removed the stock from its Top Picks list and dropped its price target for shares to $72 from $80. FBR said the moves were prompted by a posting on AT&T's (T) website which said the carrier’s version of the GS6 smarphone is powered by the Samsung Exynos 7420 processor with a Shannon 333 modem as opposed to Qualcomm's Snapdragon platform. FBR still expects the Verizon (VZ) and Sprint (S) GS6 versions to sport Qualcomm modems, but it believes the change at AT&T signals Samsung’s "clear intent to utilize proprietary baseband whenever and wherever possible." Shares of chip maker Qualcomm closed Thursday down $1.46 to $67.97.
06:07 EDTQCOMSamsung uses internally developed wireless modem in Galaxy S6, WSJ reports
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