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Stock Market & Financial Investment News

News For QCOM;NXPI;BRCM From The Last 14 Days
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May 29, 2015
16:44 EDTBRCMStocks end week lower as GDP revision closes May on down note
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16:07 EDTQCOMQualcomm's Snapdragon 810 processor to power Google's Project Tango platform
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10:45 EDTBRCMOptions with increasing volume
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10:07 EDTQCOM, BRCMBroadcom calls active on speculation of a competing bid
Broadcom (BRCM) June 55 and 56 calls are active on total call volume of 13K contracts (3K puts) on speculation of a competing bid by Qualcomm (QCOM). June weekly call option implied volatility is at 22, June is at 25, July is at 21; compared to its 52-week range of 18 to 62. Active call volume suggests traders taking positions for price movement after announcing it will be acquired by Avago Technologies (AVGO) for cash and stock in a deal valued at $37B or roughly $58 per share.
10:01 EDTBRCMOn The Fly: Analyst Downgrade Summary
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09:57 EDTBRCMRumor: Broadcom moves up on speculation of a competing bid by Qualcomm
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09:35 EDTBRCMActive equity options trading on open
Active equity options trading on open: AAPL INTC VLO FB HFC AMZN FB BRCM FCX
09:17 EDTBRCMBroadcom downgraded to Equal Weight from Overweight at Morgan Stanley
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08:40 EDTBRCMBroadcom downgraded to Neutral from Outperform at Baird
Baird downgraded Broadcom (BRCM) to Neutral from Outperform following its announcement it will be acquired by Avago Technologies (AVGO) for cash and stock in a deal valued at $37B.
08:24 EDTBRCMBroadcom downgraded to Neutral from Outperform at Macquarie
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08:13 EDTBRCMBroadcom downgraded to Neutral from Positive at Susquehanna
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07:38 EDTBRCMBroadcom downgraded to Hold from Buy at Topeka
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07:20 EDTBRCMAvago deal with Broadcom much better than expected, says UBS
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07:15 EDTQCOM, BRCMBroadcom-Avago deal may not be tech's largest for long, Bloomberg says
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07:14 EDTBRCMAvago upgraded to Buy from Hold at Jefferies
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06:15 EDTBRCMBroadcom downgraded to Market Perform from Outperform at Cowen
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05:38 EDTBRCMIntel close to buying Altera for up to $54/share, NY Post reports
Intel (INTC) is near a deal to buy rival Altera (ALTR) for about $15B or up to $54 per share, Josh Kosman of the New York Post reports, citing a source close to the situation. Altera reportedly rejected an earlier buyout price from Intel of $54 per share, but that was before it reported disappointing earnings results, Kosman points out. Intel has no interest in competing with Avago (AVGO) to acquire Broadcom (BRCM), a source told the reporter. Shares of Altera are trading up $4.52 to $51.49 in the pre-market. Reference Link
05:15 EDTBRCMAvago price target raised to $180 from $145 at Brean Capital
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May 28, 2015
16:30 EDTBRCMBroadcom downgraded to Neutral from Buy at Goldman
Goldman Sachs downgraded Broadcom to Neutral and removed it from the firm's America Buy List following the announcement that Avago is planning to acquire Broadcom for $37B. Additionally, Goldman Sachs raised its price target on the stock to $58 from $53.
16:29 EDTBRCMOn The Fly: Top stock stories for Thursday
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16:03 EDTBRCMOptions Update; May 28, 2015
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15:33 EDTBRCMAvago price target raised to $155 after Broadcom deal at Oppenheimer
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15:15 EDTBRCMAvago and Broadcom combination points to a $200+ stock, says Mizuho
Mizuho said the Avago (AVGO) and Broadcom (BRCM) combination suggests a $220 stock with synergies, based on FY16 EPS of $14.70 and using a 15x multiple. The firm rates Avago a Buy with a $175 price target, up from $150.
13:42 EDTBRCMBroadcom downgraded to Hold from Buy at Drexel Hamilton
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13:19 EDTBRCMOn The Fly: Top stock stories at midday
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10:30 EDTBRCMOppenheimer semiconductor analyst to hold an analyst/industry conference call
Semiconductors Analyst Rick Schafer discusses Avago Technologies acquisition of Broadcom Corporation on an Analyst/Industry conference call to be held on May 28 at 10:30 am.
10:18 EDTBRCMBroadcom upgraded to Market Perform from Underperform at Wells Fargo
Wells Fargo upgraded Broadcom (BRCM) to Market Perform after the company entered into an agreement to be acquired by Avago (AVGO).
10:02 EDTBRCMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BT Group (BT) downgraded to Underperform from Strong Buy at Raymond James... Banc of California (BANC) downgraded to Neutral from Buy at DA Davidson... Bon-Ton Stores (BONT) downgraded to Underperform from In-Line at Imperial Capital... Broadcom (BRCM) downgraded to Outperform, would not rule out another bid, says CLSA... DSW (DSW) downgraded to Neutral from Buy at Goldman... First Potomac (FPO) downgraded on DC office market fundamentals at BMO Capital... Ignite Restaurant (IRG) downgraded to Neutral from Buy at UBS... Magnum Hunter (MHR) downgraded to Hold from Buy at Canaccord... Michael Kors (KORS) downgraded to Equal Weight from Overweight at Stephens... Santander Brasil (BSBR) downgraded to Underweight from Equal Weight at Barclays... Semtech (SMTC) downgraded to Sell from Neutral at B. Riley... The Fresh Market (TFM) downgraded to Neutral from Overweight at JPMorgan... Vail Resorts (MTN) downgraded to Neutral ahead of Q3 earnings at MKM Partners.
09:34 EDTBRCMActive equity options trading on open
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09:27 EDTBRCMOn The Fly: Pre-market Movers
HIGHER: Rally Software (RALY), up 44% after deal to be bought by CA Technologies for $19.50 per share... IMAX (IMAX), up 6.5% after IMAX China files application for IPO on Hong Kong Stock Exchange... Avago (AVGO), up 2.8% after announcing deal to buy Broadcom (BRCM) for $37B in cash and stock. Broadcom shares are down 1% following the announcement... Western Digital (WDC), up 2.4% following upgrade to Buy from Neutral at Goldman. UP AFTER EARNINGS: Express (EXPR), up 8%... Abercrombie & Fitch (ANF), up 4.3%. LOWER: NeoStem (NBS), down 22.8% after 12.5M share secondary price at $2 per share... Ctrip.com (CTRP), down 1.6% after reportedly disclosing cyberattack against its services. DOWN AFTER EARNINGS: Orbital ATK (OA), down 1.6%... Signet (SIG), down 3.5%... Sanderson Farms (SAFM), down 3%... Dangdang (DANG), down 11%.
09:16 EDTBRCM, BRCM, QCOM, QCOMQualcomm's chipset headwinds could force it to consider M&A, says CLSA
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08:56 EDTBRCMAvago CEO says long-term revenue CAGR target 'probably conservative'
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08:54 EDTBRCMAvago CEO: Hard for another bidder to match Broadcom deal on equivalent basis
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08:47 EDTBRCMAvago sees repatriating 'some' of Broadcom off-shore cash
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08:30 EDTBRCMBroadcom, Avago say $750M synergy target doesn't assume portfolio restructuring
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08:25 EDTBRCM, BRCMBroadcom downgraded to Outperform, would not rule out another bid, says CLSA
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08:01 EDTBRCMAvago to hold a conference call
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07:48 EDTBRCMAvago Technologies volatility elevated into purchasing Broadcom
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07:43 EDTBRCMBroadcom volatility elevated into Avago purchasing for $37B
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07:40 EDTBRCMAvago, Broadcom long-term model calls for 5% revenue CAGR
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07:16 EDTNXPINXP Semiconductors, Stora Enso to develop intelligent packaging solutions
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07:07 EDTBRCMAvago sees Broadcom deal immediately accretive to non-GAAP EPS, free cash flow
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07:03 EDTBRCMAvago to acquire Broadcom for $37B in cash and stock
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07:01 EDTBRCMAvago to acquire Broadcom for $37B in cash and stock
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05:55 EDTQCOMStocks with implied volatility movement; AVGO QCOM
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05:53 EDTBRCMStocks with implied volatility movement; NQ BRCM
Stocks with implied volatility movement; NQ Mobile (NQ) 116, Broadcom (BRCM) 59 according to iVolatility.
05:05 EDTNXPINXP Semiconductors agrees to sell RF Power business to JAC Capital for $1.8B
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May 27, 2015
16:23 EDTBRCMOn The Fly: Top stock stories for Wednesday
Stocks on Wall Street began the session in positive territory and never looked back. The market gained upside momentum during the first hour of trading, then found a level where it moved in a very narrow range throughout the day. The averages, led by the Nasdaq, recaptured a major part of yesterday’s losses with today's advance. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Shares of Broadcom (BRCM) spiked after The Wall Street Journal reported that the company is in advanced talks to be acquired by Avago Technologies (AVGO). Piper Jaffray analyst Ruben Roy said that if average takeout multiples in the semiconductor space over the past several years are used as a guide, Broadcom could be valued near $58 per share in a takeover. Meanwhile, Pacific Crest speculated that Avago could pay $63-$65 per share for Broadcom and the deal would still be accretive. Later in afternoon, a report from Bloomberg claimed a stock and cash deal for Avago to acquire Broadcom could be announced as soon as tomorrow. Broadcom shares finished up $10.05, or 21.42%, to $56.97, while Avago ended with gains of $11.32, or 8.62%, to close the session at $142.62. MAJOR MOVERS: Among the notable gainers was Tiffany & Co. (TIF), which advanced $9.01, or 10.53%, to $94.54 after its earnings beat expectations and the company backed its forecast for fiscal year 2015. Also higher was Five Prime Therapeutics (FPRX), which rallied $2.89, or 14.69%, to $22.56 after it made a deal to develop CAR-T cancer therapies in partnership with bluebird bio (BLUE). Among the noteworthy losers was Michael Kors (KORS), which sank $14.66, or 24.2%, to $45.93 and was downgraded at BofA Merrill Lynch and JPMorgan after the company provided a weaker than expected outlook for the first quarter and fiscal year 2016. Also lower were shares of Workday (WDAY), which dropped $10.49, or 11.34%, to $82.00 after the company reported results and gave guidance with less upside than investors have come to expect. INDEXES: The Dow rose 121.45, or 0.67%, to 18,162.99, the Nasdaq gained 73.84, or 1.47%, to 5,106.59, and the S&P 500 advanced 19.28, or 0.92%, to 2,123.48.
16:03 EDTBRCMOptions Update; May 27, 2015
iPath S&P 500 VIX Short-Term Futures down 82c to 18.56 Option volume leaders: AAPL KORS BRCM MCD FB MNKD AAL YHOO BAC MU ANF S EOX
15:42 EDTBRCMAvago board to meet tonight on potential Broadcom deal, CNBC reports
CNBC's Kayla Tausche, citing sources, reports that Avago's (AVGO) board will meet tonight to vote on a potential takeover deal for Broadcom (BRCM), which could be announced as soon as tomorrow.
15:28 EDTBRCMMellanox would have direct competition from an Avago, Broadcom deal, says Stifel
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15:03 EDTBRCMAvago deal for Broadcom could be announced as soon as tomorrow, Bloomberg says
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15:02 EDTBRCMBroadcom spikes higher on report of possible Avago bid
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15:00 EDTBRCMBroadcom, Avago deal would make strategic sense, says Piper Jaffray
Piper Jaffray analyst Ruben Roy said he believes a merger deal between Broadcom (BRCM) and Avago (AVGO), as the companies were said by the Wall Street Journal to be discussing, would make strategic sense. Roy said that if average take-out multiples in the semiconductor space over the past several years are used as a guide, Broadcom could be valued near $58 per share in a takeover. He added that he thinks Intel (INTC) could continue to be interested in Broadcom, especially with its reported talks to buy Altera (ALTR) "in limbo." Roy maintains a Neutral rating on Broadcom shares.
14:52 EDTBRCMBroadcom declines comment on report of Avago talks
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14:27 EDTBRCMAvago could pay up to $65 for Broadcom, says Pacific Crest
Pacific Crest speculates Avago (AVGO) could pay $63-$65 per share for Broadcom (BRCM) and the deal would still be accretive.
14:25 EDTBRCMAvago Technologies calls active on talks to buy Broadcom report
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14:20 EDTBRCMBroadcom calls active on Avago in advanced talks to buy report
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14:10 EDTBRCMMaxim briefly trades lower after DJ report of Avago interest in Broadcom
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14:08 EDTBRCMAvago in advanced talks to buy Broadcom, WSJ reports
Broadcom (BRCM), which had a market value of $28B as of this afternoon, is in advanced talks to be acquired by Avago Technologies (AVGO), which recently had a market cap of about $34B, though it is unclear what terms the companies are discussing, said The Wall Street Journal. Following the report, Broadcom shares are up about 14% to $53.45, while Avago is up nearly 6% to trade just below $139 per share. Reference Link
14:01 EDTBRCMBroadcom jumps 8.5% after Dow Jones report on Avago takeover talks
Avago Technologies (AVGO) shares are up nearly 5% following the report.
14:00 EDTBRCMBroadcom in advanced talks to be acquired by Avago, Dow Jones reports
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10:35 EDTNXPI, BRCMBMO Capital to hold a tour
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09:28 EDTBRCMBroadcom WiFi risks misplaced, says BofA/Merrill
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06:13 EDTQCOMTech companies look for ways to fend off activist investors, WSJ reports
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May 25, 2015
12:37 EDTQCOMQualcomm, Daimler announce strategic collaboration on connected car technology
Daimler AG (DDAIF) and Qualcomm Technologies, a subsidiary of Qualcomm (QCOM), announced a strategic collaboration focused on vehicle innovation. In the first phase of the collaboration, the companies will focus on developing vehicles with mobile technologies such as 3G/4G connectivity, wireless charging technology, and implementation of the Qualcomm "Halo" wireless electric vehicle charging technology. In addition, the companies are jointly assessing the application of Qualcomm's newly developed "Automotive Solutions." Qualcomm Technologies is collaborating with Daimler on its wireless power transfer 2.0 program for electric vehicles. The Qualcomm Halo technology could allow Daimler customers to charge their electric vehicles and plug-in hybrid EVs without having to plug them in. In addition, Qualcomm WiPower technology enables consumer electronics to charge wirelessly in-vehicle.
May 22, 2015
10:38 EDTNXPIMizuho says buy NXP, Micron, ON Semi
Mizuho Securities initiated coverage of a number of chip makers in a note to investors last night. Among its recommendation in the space, NXP Semiconductors (NXPI), Micron (MU), and ON Semiconductor (ON) were called out with Buy ratings. NXP: NXP Semiconductors dominates the mobile payment market with its NFC products, Mizuho analyst Vijay Rakesh wrote. The company's NFC chips are used in Apple's (AAPL) Apple Pay and NXP has a strong mobile payment ecosystem in China, the analyst explained. NXP Semiconductors is also a leader in providing chips used to enhance credit card security, as its Chip+Pin system has a 75% share of the global market and is in the process of being deployed in the U.S, according to Rakesh. Going forward, NXP's growth should be driven by the automotive products of Freescale, which the company acquired earlier this year, the analyst stated, adding that NXP should derive strong synergies and cash flow from the deal. He set a $140 price target on the stock. MICRON: Sales of flash memory device maker Micron's DRAM products should be boosted by a PC rebound in the second half of this year, according to Rakesh. Additionally, the company's new CFO could make its actions more predictable, pleasing investors, the analyst stated. ON: ON Semiconductor should benefit from its acquisition of Aptina, which gave ON a significant presence in the Advanced Driver Assistance Systems, or ADAS, market, Rakesh believes. ADAS is likely to grow rapidly around the world, driven by mandates, the analyst predicted. A second positive catalyst for ON will be the proliferation of wireless charging, added the analyst, who set a $16 price target on the shares. PRICE ACTION: In early trading, NXP rose nearly 1% to trade nearly $108, Micron gained 2.6% to $27.61, and ON was fractionally higher. Other semiconductor makers initiated with Buy ratings by the firm include Skyworks (SWKS), Synaptics (SYNA), Avago (AVGO) and Cypress Semiconductor (CY).
09:58 EDTNXPIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Allison Transmission (ALSN) initiated with a Buy at Stifel... Avago (AVGO) initiated with a Buy at Mizuho... Blackstone (BX) initiated with a Positive at Susquehanna... Cellectis (CLLS) initiated with an Outperform at Oppenheimer... Cypress Semiconductor (CY) initiated with a Buy at Mizuho... Esperion (ESPR) initiated with a Sell at Chardan... H&R Block (HRB) initiated with an Overweight at Piper Jaffray... Horizon Pharma (HZNP) initiated with an Outperform at Leerink... M/A-COM (MTSI) initiated with a Buy at Goldman... Meritor (MTOR) initiated with a Hold at Stifel... Micron (MU) initiated with a Buy at Mizuho... Monster Worldwide (MWW) initiated with a Neutral at Piper Jaffray... NXP Semiconductors (NXPI) initiated with a Buy at Mizuho... National Storage (NSA) initiated with a Sector Weight at KeyBanc... ON Semiconductor (ON) initiated with a Buy at Mizuho... Qorvo (QRVO) initiated with a Buy at Goldman... SanDisk (SNDK) initiated with a Neutral at Mizuho... Sharps Compliance (SMED) initiated with a Buy at Stifel... Skyworks (SWKS) initiated with a Buy at Mizuho... StemCells (STEM) initiated with a Buy at Cantor... Synaptics (SYNA) initiated with a Buy at Mizuho... Synergy Pharmaceuticals (SGYP) initiated with a Buy at Canaccord... Texas Instruments (TXN) initiated with a Neutral at Mizuho... TriNet (TNET) initiated with a Neutral at Piper Jaffray... Vascular Biogenics (VBLT) initiated with a Buy at Roth Capital... Verifone (PAY) initiated with an Outperform at Imperial Capital... uniQure (QURE) initiated with an Outperform at Oppenheimer.
May 21, 2015
16:15 EDTNXPINXP Semiconductors initiated with a Buy at Mizuho
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14:21 EDTNXPINXP Semiconductors CEO says being Dutch company helps in China
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14:19 EDTNXPINXP Semiconductors looks to doing joint ventures in China
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07:32 EDTQCOMQualcomm initiates $5B accelerated share repurchase
Qualcomm announced that it has entered into accelerated share repurchase agreements with two financial institutions to repurchase an aggregate of $5B of Qualcomm's common stock, with an initial delivery of approximately 57.7M shares. The final number of shares to be repurchased will be based on the volume-weighted average stock price of Qualcomm's common stock during the term of the transaction, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR Agreements. The company is funding the accelerated share repurchase with proceeds from its recently completed $10B debt offering.
May 20, 2015
07:36 EDTBRCMJPMorgan to hold a conference
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