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Stock Market & Financial Investment News

News For QCOM From The Last 14 Days
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April 27, 2015
10:23 EDTQCOMQualcomm forms unit to help Chinese smartphone makers sell overseas, WSJ says
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April 26, 2015
12:48 EDTQCOMQualcomm could rise 30% to around $90, Barron's says
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April 23, 2015
10:00 EDTQCOMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ADTRAN (ADTN) downgraded to Hold from Buy at Needham... Angie's List (ANGI) downgraded to Underperform from Market Perform at Northland... BG Group (BRGYY) downgraded to Hold from Overweight at HSBC... Brink's (BCO) downgraded to Neutral, sees 'imminent' downside risk, says Macquarie... Citrix (CTXS) downgraded to Hold from Buy at Evercore ISI... Cognex (CGNX) downgraded to Perform from Outperform at Oppenheimer... Cytec Industries (CYT) downgraded to Equal-Weight from Overweight at First Analysis... Enbridge (ENB) downgraded to Neutral from Outperform at Credit Suisse... Ensco (ESV) downgraded to Underweight from Equal Weight at Morgan Stanley... F5 Networks (FFIV) downgraded to Neutral from Buy at MKM Partners... Fulton Financial (FULT) downgraded to Market Perform from Outperform at Keefe Bruyette... Halcon Resources (HK) downgraded to Neutral from Outperform at Baird... Heartland Express (HTLD) downgraded on limited earnings growth at Raymond James... Informatica (INFA) downgraded to Market Perform from Outperform at JMP Securities... Knight Transportation (KNX) downgraded to Outperform from Strong Buy at Raymond James... LegacyTexas Financial (LTXB) downgraded to Outperform from Strong Buy at Raymond James... Masco (MAS) downgraded to Neutral from Buy at Citigroup... MobileIron (MOBL) downgraded to Equal Weight from Overweight at Morgan Stanley... Noble Corp. (NE) downgraded to Underweight from Equal Weight at Morgan Stanley... Omnicare (OCR) downgraded to Neutral from Outperform at Credit Suisse... Owens Corning (OC) downgraded to Sell from Neutral at Citigroup... Qualcomm (QCOM) downgraded to Neutral from Outperform at Exane BNP Paribas... RAM Energy (RAME) downgraded to Neutral from Outperform at Baird... Repsol (REPYY) downgraded to Reduce from Hold at HSBC... Stillwater Mining (SWC) downgraded on lack of catalysts at BB&T... Texas Capital (TCBI) downgraded to Outperform from Strong Buy at Raymond James... Texas Instruments (TXN) downgraded to Neutral from Buy at BofA/Merrill... Total (TOT) downgraded to Hold from Buy at Deutsche Bank... Transocean (RIG) downgraded to Underweight from Equal Weight at Morgan Stanley.
08:23 EDTQCOMQualcomm price target lowered to $80 from $87 at Brean Capital
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07:49 EDTQCOMQualcomm price target lowered to $80 from $87 at Canaccord
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06:18 EDTQCOMQualcomm chip business to recover in 2016, says Citigroup
Citigroup says Qualcomm's Q2 results indicate the "very bad year" for the company's chip business continues. The firm, however, expects the chip unit to recover in 2016 and points out the royalty business is hitting record levels. Citi thinks Qualcomm's final guide-down is near and keeps a Buy rating on the stock with an $88 price target.
05:28 EDTQCOMQualcomm downgraded to Neutral from Outperform at Exane BNP Paribas
Exane BNP Paribas downgraded Qualcomm to Neutral following the company's Q2 results.
April 22, 2015
19:14 EDTQCOMOn The Fly: After Hours Movers
UP AFTER EARNINGS: Select Comfort (SCSS), up 3.3%... Alliance Fiber Optic (AFOP), up 6.9%... eBay (EBAY), up 6.2%... Cheesecake Factory (CAKE), up 5.6%... O'Reilly Automotive (ORLY), up 3.8%... Corelogic (CLGX), up 3.2%... Skechers (SKX), up 2.5%... AT&T (T), up 1.3%. ALSO HIGHER: ARRIS Group (ARRS), up 24.9% after acquiring Pace plc. for $2.1B in cash and stock... Esperion Therapeutics (ESPR), up 2.5% after being initiated with an Outperform at RBC Capital... Uniqure (QURE), up 3.7% after being initiated with an Outperform at BMO Capital. DOWN AFTER EARNINGS: Texas Instruments (TXN), down 6.7%... Las Vegas Sands (LVS), down 4.2%... Oceaneering International (OII), down 3.7%... F5 Networks (FFIV), down 2.8%... Xilinx (XLNX), down 3.3%... Qualcomm (QCOM), down 3%... Facebook (FB), down 2.2%... Tractor Supply (TSCO), down 3.1%. ALSO LOWER: Noble Corp (NE), down 1.2% after being downgraded to Underweight from Equal Weight at Morgan Stanley.
18:27 EDTQCOMSemiconductor stocks under pressure after TI, Qualcomm report financial results
Semiconductor stocks are under pressure after earnings reports from Texas Instruments (TXN) and Qualcomm (QCOM). TEXAS INSTRUMENTS: TI reported first quarter results that were lower than analyst expectations, and gave second quarter guidance below consensus estimates. In its Q1 earnings press release, Texas Instruments said its outlook for Q2 is for earnings per share between 60c-70c and revenue in the range of $3.12B-$3.38B. "Our estimates assume continuing weakness in our communications equipment and personal electronics markets, particularly for wireless infrastructure equipment and PCs, respectively. We also do not expect a near-term rebound in foreign currency exchange rates. The annual effective tax rate for 2015 is expected to be about 30%." QUALCOMM: Qualcomm reported Q2 results that were better than analyst's average estimates, but lowered its fiscal year 2015 EPS and revenue views. Qualcomm CEO Steve Mollenkopf said, "While we remain confident in the significant growth opportunities ahead, we are reducing our QCT outlook for fiscal 2015, primarily due to the increased impact of customer share shifts within the premium tier and a decline in our share at a large customer." PRICE ACTION: In after-hours trading, shares of Texas Instruments are down over 6%, while Qualcomm shares are down almost 3%. Other publicly traded companies in the space include AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Micron (MU), NVIDIA (NVDA), Altera (ALTR), Xilinx (XLNX), and Maxim Integrated (MXIM).
16:30 EDTQCOMQualcomm down 2.3% to $67.35 after FY15 outlook lowered
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16:29 EDTQCOMQualcomm CEO says comprehensive review of cost structure initiated
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16:11 EDTQCOMQualcomm sees CSR acquisition closing by the end of summer 2015
Qualcomm (QCOM) said it has not included any estimates related to the proposed acquisition of CSR plc (CSRE) in its FY15 outlook. The acquisition is expected to close by the end of the summer of 2015. The company expects the acquisition to be accretive to Non-GAAP earnings per share in fiscal 2016, the first full year of combined operations.
16:09 EDTQCOMQualcomm sees Q3 EPS 85c-$1.00, consensus $1.14
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16:05 EDTQCOMQualcomm lowers FY15 EPS view to $4.60-$5.00, consensus $5.00
Qualcomm previously saw FY15 EPS $4.85-$5.05. Lowers FY15 revenue view to $25.0B-$27.0B from $26.3B-$28B, consensus $27.22B. The company is reducing its outlook for its semiconductor business, QCT, for the second half of fiscal 2015 primarily due to: the increased impact of customer share shifts within the premium tier, which will reduce our sales of its integrated Snapdragon processors and skew its product mix towards modem chipsets in this tier; and a decline in its share at a large customer.
16:02 EDTQCOMQualcomm reports Q2 EPS $1.40, consensus $1.33
Reports Q2 revenue $6.89B, consensus $6.83B.
15:30 EDTQCOMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include eBay (EBAY), consensus 70c... Facebook (FB), consensus 40c... Texas Instruments (TXN), consensus 62c... Las Vegas Sands (LVS), consensus 72c... Qualcomm (QCOM), consensus $1.33... AT&T (T), consensus 62c... F5 Networks (FFIV), consensus $1.50... Plexus (PLXS), consensus 69c... Skechers (SKX), consensus $1.01... Select Comfort (SCSS), consensus 41c... Tractor Supply (TSCO), consensus 41c... Covanta (CVA), consensus (8c)... Crown Castle (CCI), consensus $1.09... Torchmark (TMK), consensus $1.05... Ameriprise (AMP), consensus $2.33... Polycom (PLCM), consensus 21c... Citrix (CTXS), consensus 65c... Core Laboratories (CLB), consensus 85c... Graco (GGG), consensus 78c... Cheesecake Factory (CAKE), consensus 48c... Equifax (EFX), consensus $1.02... SLM (SLM), consensus 7c... Xilinx (XLNX), consensus 50c... O'Reilly Automotive (ORLY), consensus $1.94... Susquehanna (SUSQ), consensus 18c... Raymond James (RJF), consensus 83c... SL Green Realty (SLG), consensus $1.49... CoreLogic (CLGX), consensus 31c... Oceaneering (OII), consensus 62c... Valmont (VMI), consensus $1.49... Brandywine Realty (BDN), consensus 32c... Weatherford (WFT), consensus 1c.
13:51 EDTQCOMQualcomm technical notes ahead of results
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April 21, 2015
08:41 EDTQCOMOptions expected to be active
Options expected to be active: UA TEVA PRGO MYL UTX QCOM VMW HOG CMG IBM VZ
06:36 EDTQCOMQualcomm April weekly volatility elevated into Q2 and outlook
Qualcomm April call option implied volatility is at 56, May is at 29, June is at 22, compared to its 26-week average of 22 according to Track Data, according to Track Data, suggesting large near term price movement into the expected release of Q2 results after the market close on April 22.
April 20, 2015
14:48 EDTQCOMQualcomm to have Samsung foundry make next high-end chip, Re/code says
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April 17, 2015
11:16 EDTQCOMRumor: Qualcomm active on activist investor speculation
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April 15, 2015
06:35 EDTQCOMSamsung 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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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 CareAwareŽ 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
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