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Stock Market & Financial Investment News

News For QCOM From The Last 14 Days
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January 30, 2015
16:28 EDTQCOMMarket finishes week lower as earnings, GDP miss drag down stocks
Stocks ended the week lower as several major companies reported weaker than expected results or gave disappointing guidance and a number of U.S. economic data points came in below the consensus outlook. MACRO NEWS: The Federal Reserve reiterated that it would exercise patience in deciding when to raise interest rates. The central bank added that economic growth was expanding at a "solid" pace... U.S. economic data was mixed, as Q4 GDP growth, durable goods orders for December, and pending home sales came in below expectations, but weekly jobless claims and new home sales for December beat expectations... In Europe, the annual cost of living in the euro zone currency bloc fell 0.6% in January, versus analysts' forecast for a fall of 0.5%. However, the bloc's unemployment rate inched down to 11.4% in December from 11.5% in November. Analysts had expected the unemployment rate to remain unchanged. COMPANY NEWS: Apple's (AAPL) shares rose after the company reported record results, beating analysts' expectations. The company sold 74.5M iPhones last quarter, a figure that also beat the consensus outlook... Visa (V), Boeing (BA), Amazon.com (AMZN), Google (GOOG), and video game maker Electronic Arts (EA) were among the companies that rose following their earnings reports. Facebook (FB) reported stronger than expected results but its stock was little changed on the week... Microsoft (MSFT), Caterpillar (CAT), Qualcomm (QCOM), Alibaba (BABA), DuPont (DD), and 3M (MMM) fell after reporting their results... Yahoo (YHOO) announced that it plans to spin off its stake in Alibaba later this year in a tax-free transaction. The announcement led to speculation that Yahoo could become a takeover target... McDonald's (MCD) announced that its CEO, Don Thompson, would step down and be replaced by its current Chief Brand Officer, Steve Easterbrook. Its stock reacted favorably to the executive change... Qualcomm (QCOM) cut its fiscal 2015 guidance and announced that its Snapdragon 810 processor will not be in the upcoming design cycle of a large customer's flagship device. A number of analysts and media outlets said that Samsung was the company to which Qualcomm was referring. INDEXES: For the week, the Dow is down 2.83% to 17,164.95, the Nasdaq is down 2.56% to 4,635.24, and the S&P is down 2.77% to 1,994.99.
January 29, 2015
16:55 EDTQCOMOn The Fly: Closing Wrap
Stocks on Wall Street struggled for direction for the first half of the session, making several passes across the flat line. The market seemed ready for a positive day after better than expected jobless claims data, and the buyers finally emerged in the second half of the day. The past two days had taken almost 500 points from the Dow, though the blue chip index ended up recapturing about half of those losses with its gains today. ECONOMIC EVENTS: In the U.S., jobless claims plunged by 43K to 265K last week, versus expectations for 300K first-time claims. That was the lowest weekly level in nearly 15 years, though the government cautioned that the inclusion of the Martin Luther King holiday makes the data more difficult to calculate. The pending home sales index dropped 3.7% to 100.7 in December, versus expectations for it to have risen 0.5%. COMPANY NEWS: McDonald's (MCD) was the best performing member of the Dow Jones Industrial Average, rising $4.49, or 5.06%, to $93.27 after announcing last night that Don Thompson will retire as president and CEO on March 1. Steve Easterbrook, who was previously senior executive VP and Chief Brand Officer, was selected to replace Thompson as CEO... Chinese e-commerce giant Alibaba (BABA) reported fourth quarter earnings per share, excluding certain items, that beat analysts' consensus estimate, but its revenue came in below expectations. Shares fell $8.64, or 8.78%, to $89.81 following the report. Yahoo (YHOO), which earlier this week announced that it plans to spin-off its remaining stake in Alibaba in a tax-free transaction, dropped $2.73, or 5.88%, to $43.73 in sympathy. MAJOR MOVERS: Among the notable gainers was Coach (COH), which rose $2.48, or 6.8%, to $38.94 after the luxury handbag maker reported better than expected earnings. Also higher was K12 (LRN), which jumped $3.35, or 30.32%, to $14.40 after its second quarter earnings and revenue topped expectations. Among the noteworthy losers was Qualcomm (QCOM), which declined $7.30, or 10.28%, to $63.69 after the chip maker lowered its outlook for fiscal 2015. It also announced that its Snapdragon 810 processor will not be in the upcoming design cycle of a large customer's flagship device, which is widely believed to be Samsung's next generation Galaxy S phone. Also lower were shares of specialty chemicals company Albemarle (ALB), which dropped $7.60, or 13.73%, to $47.77 after the company reported Q4 adjusted EPS and revenue that missed analysts' consensus forecasts and guided toward FY15 revenue and profits that also were below expectations. INDEXES: The Dow rose 225.48, or 1.31%, to 17,416.85, the Nasdaq gained 45.41, or 0.98%, to 4,683.41, and the S&P 500 added 19.09, or 0.95%, to 2,021.25.
15:48 EDTQCOMQualcomm guidance cut more than accounted for by pullback, says Argus
Argus believes the post-earnings report slide in Qualcomm more than reflects the company's guidance cut, while shares are not fully factoring in positives like its resolution of a dispute with a licensee in China. The firm lowered its price target on Qualcomm to $80 from $89, but maintains its Buy rating on the name.
12:54 EDTQCOMOn The Fly: Midday Wrap
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11:53 EDTQCOMQualcomm sinks after cutting outlook, confirming being dropped in Galaxy
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10:19 EDTQCOMQualcomm falls after earnings, levels to watch
The stock is down over 9.5% to $64.19 at time of writing, near the low of the day at $63.74 which is now support. If the low of the session is taken out, next support would be at $62.21. Resistance is at $65.51, the opening price of the session.
10:00 EDTQCOMOn The Fly: Analyst Downgrade Summary
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09:06 EDTQCOMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Flextronics (FLEX), up 6%... Coach (COH), up 6.3%... Autoliv (ALV), up 4.3%... Dow Chemical (DOW), up 3.5%... Ford (F), up 0.8%. ALSO HIGHER: McDonald's (MCD), up 3% after announcing CEO change...Xencor (XNCR), up 19% after reporting results from two trials... Pluristem Therapeutics (PSTI), up 8% after providing update and outlook on trials and pipeline... Avon Products (AVP), up 2.3% after naming James Scully as CFO... Omeros (OMER), up 6% after 2.996M share spot secondary priced at $20.03. DOWN AFTER EARNINGS: Alibaba (BABA), down 8%... Qualcomm (QCOM), down 6.8%... Alexion (ALXN), down 1.1% after reporting fourth quarter results, fiscal 2015 guidance, and CEO appointment. ALSO LOWER: Yahoo (YHOO), down 7% following Alibaba earnings report... Venaxis (APPY), down 72% after its APPY1 Test was determined by the FDA to not meet the criteria for substantial equivalence.
07:50 EDTQCOMQualcomm should be bought on weakness, says JMP Securities
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07:27 EDTQCOMU.S. groups ask China to re-examine new cybersecurity rules, WSJ reports
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07:25 EDTQCOMQualcomm price target lowered to $75-$85 from $80-$90 at Wells Fargo
Wells Fargo cut its price target on Qualcomm after the company reported higher than expected EPS, but lowered its full-year guidance following the loss of a major customer. The firm assumes that Samsung has decided not to use Qualcomm's snapdragon chip in the next generation Galaxy S phone, but it keeps an Outperform rating on Qualcomm.
07:24 EDTQCOMQualcomm downgraded to Neutral from Outperform at Macquarie
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07:18 EDTQCOMQualcomm downgraded to Market Perform from Outperform at Northland
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07:17 EDTQCOMQualcomm downgraded to Neutral from Buy at UBS
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07:04 EDTQCOMChina implementing new requirements for some tech companies, NY Times says
China is forcing companies which sell computer equipment to Chinese banks to divulge secret source code and submit to audits, according to The New York Times. It is also requiring such companies to provide the government with access to hardware and software products, the newspaper indicated. Cisco (CSCO), Qualcomm (QCOM), and Microsoft (MSFT) have raised issues about accessing the Chinese market, while Apple (AAPL) is looking to increase its business in the country, the newspaper added. Reference Link
06:14 EDTQCOMQualcomm fundamentals should stabilize in FY16, says Citigroup
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05:58 EDTQCOMStocks with implied volatility above IV index mean; QCOM FB
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05:47 EDTQCOMRoche, Qualcomm collaborate on remote patient monitoring
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January 28, 2015
18:21 EDTQCOMOn The Fly: After Hours Movers
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17:49 EDTQCOMQualcomm says seeing heightened competition in China in low, mid tiers
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16:53 EDTQCOMQualcomm comments on resolution of dispute with licensee in China
The company said, "We resolved the previously disclosed dispute with a licensee in China in the first quarter of fiscal 2015. However, we continue to believe that certain licensees in China are not fully complying with their contractual obligations to report their sales of licensed products to us (which includes certain licensees underreporting a portion of their 3G/4G device sales) and that unlicensed companies may seek to delay execution of new licenses while the NDRC investigation is ongoing. We are taking steps to address these issues, although the outcome and timing of any resolutions are uncertain. We expect global 3G/4G device shipments to be approximately 1.35 billion for calendar year 2014. However, due to the issues described above, we do not believe that all of the global 3G/4G device shipments for calendar year 2014 will be reported to us within the time periods required by our license agreements. Accordingly, we currently estimate approximately 1.135 billion to 1.175 billion calendar year 2014 3G/4G device shipments will actually be reported to us through the first calendar quarter of 2015. We expect global 3G/4G device shipments to be approximately 1.5 billion to 1.6 billion for calendar year 2015. At this time, we are not providing a forecast for calendar year 2015 reported 3G/4G device shipments."
16:35 EDTQCOMQualcomm falls further after hours, levels to watch
Initial support post-earnings was at $66, but that level has now become resistance. At the current price of $65.55 next support is at $64.47.
16:19 EDTQCOMQualcomm cuts 2H15 outlook for semiconductor business
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16:09 EDTQCOMQualcomm down over 5% following Q1 results, lowered guidance
16:09 EDTQCOMQualcomm sees Q2 MSM chip shipments 220M-240M
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16:09 EDTQCOMQualcomm trades down after results, levels to watch
Shares are lower by over 4.5% at time of writing to $67.50 following earnings in the extended session. That is a new 52-week low. Next support at that price is at $66.
16:08 EDTQCOMQualcomm sees FY15 total device sales approx $245B-$270B
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16:06 EDTQCOMQualcomm CEO comments on lowered FY15 outlook
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16:05 EDTQCOMQualcomm lowers FY15 adjusted EPS view to $4.75-$5.05 from $5.05-$5.35
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16:03 EDTQCOMQualcomm lowers FY15 outlook
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16:03 EDTQCOMQualcomm sees Q2 EPS $1.28-$1.40, consensus $1.28
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16:02 EDTQCOMQualcomm reports Q1 adjusted EPS $1.34, consensus $1.25
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15:37 EDTQCOMNotable companies reporting after market close
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15:07 EDTQCOMQualcomm January weekly 71.5 straddle priced for 4.9% movement into Q1
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14:16 EDTQCOMQualcomm January weekly volatility elevated into Q1 and outlook
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13:02 EDTQCOMEarnings Preview: Qualcomm to report results amid antitrust probes
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05:58 EDTQCOMIntel cooperates with Spreadtrum, Rockchip to enter China market, DigiTimes says
Intel (INTC) has cooperated with and Rockchip Electronics to rpomote its platforms in the China market, reports DigiTimes. According to Taiwan-based supply chain makers, the move is to compete with Qualcomm (QCOM) and Mediatek for smartphone and tablet use chip solutions. Intel is set to ship 44M tablet processors in 2015. Reference Link
January 27, 2015
12:45 EDTQCOMQualcomm January weekly volatility elevated into Q1 and outlook
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January 23, 2015
08:10 EDTQCOMMarvell product could replace Qualcomm Snapdragon, says RBC Capital
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January 22, 2015
14:45 EDTQCOMQualcomm seen giving Samsung redesigned Snapdragon, WSJ says
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08:02 EDTQCOMImpact to Qualcomm of Galaxy loss would be relatively small, says Bernstein
After Bloomberg reported that Samsung would not use Qualcomm's chip for the upcoming Galaxy S 6, Bernstein estimates that Qualcomm's EPS would only be negatively impacted by 2%-8% if its chip is not included in the devices. The firm says that other licensing headwinds will have more of an impact on Qualcomm. It keeps a $70 price target and Market Perform rating on the stock.
January 21, 2015
11:22 EDTQCOMAnalyst disputes report of Qualcomm troubles with Samsung
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09:46 EDTQCOMSamsung unlikely to switch from Qualcomm in all Galaxy S6, says Cowen
Cowen doubts that Samsung (SSNLF) is ready to switch away from Qualcomm (QCOM) components to a whole new chip system for its Galaxy S6 phone, as implied by a Bloomberg report, and believes instead that the phone maker will launch the Galaxy S6 in Korea with its own chips and slightly delay the phone elsewhere while Qualcomm works through its issues. The firm, which also thinks Qualcomm has already solved the reported heating problem with the Snapdragon 810, maintains its Outperform rating and $79 price target on Qualcomm.
09:44 EDTQCOMQualcomm slips on reports its chips won't be used in new Galaxy phone
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09:37 EDTQCOMQualcomm shares defended at Credit Suisse
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08:13 EDTQCOMQualcomm slides after reportedly being dropped from Galaxy phone
Samsung Electronics (SSNLF), which is trying to become more self-sufficient and give a boost to its own processor-making unit, will reportedly drop Qualcomm’s (QCOM) Snapdragon chip in favor of its own microprocessors in the next Galaxy S smartphone, according to a report from Bloomberg that cited people with direct knowledge of the matter. Shares of Qualcomm are down 2.7% to $70.50 in pre-market trading following the Bloomberg report.
05:53 EDTQCOMStocks with implied volatility movement; IBM QCOM
Stocks with implied volatility movement; IBM (IBM) 27, Qualcomm (QCOM) 33 according to iVolatility.
05:53 EDTQCOMSamsung drops Qualcomm chip from next Galaxy smartphone, Bloomberg reports
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