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Stock Market & Financial Investment News

News Breaks
January 30, 2013
18:24 EDTQCOMQualcomm reaffirms 2013 3G/4G device shipments 1B-1.07B units
Represents growth of approximately 8%-15% year-over-year. Comments taken from the company's Q1 earnings conference call.
News For QCOM From The Last 14 Days
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January 28, 2016
10:52 EDTQCOMStocks with call strike movement; QCOM FB
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10:05 EDTQCOMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Azure Midstream Partners (AZUR) downgraded at Stifel... Chesapeake (CHK) downgraded to Hold from Buy at Wunderlich... CorEnergy (CORR) downgraded at Stifel... DCP Midstream (DPM) downgraded to Hold from Buy at Stifel... DynCorp (DCP) downgraded at Stifel... Ericsson (ERIC) downgraded on challenging outlook at BMO Capital... H&E Equipment (HEES) downgraded to Neutral from Buy at UBS... Halcon Resources (HK) downgraded to Hold from Buy at Wunderlich... InvenSense (INVN) downgraded to Market Perform from Outperform at Barrington... Invitae (NVTA) downgraded to Market Perform from Outperform at Leerink... Kirby (KEX) downgraded to Sector Perform from Outperform at RBC Capital... MEG Energy (MEGEF) downgraded to Equal Weight from Overweight at Barclays... Metro (MTTRY) downgraded to Underweight from Neutral at JPMorgan... OSI Systems (OSIS) downgraded to Hold following Q2 miss at BB&T... Oasis Petroleum (OAS) downgraded to Hold from Buy at Wunderlich... Pan American Silver (PAAS) downgraded to Market Perform from Outperform at FBR Capital... Qualcomm (QCOM) downgraded to Market Perform from Outperform at William Blair... Range Resources (RRC) downgraded to Equal Weight from Overweight at Barclays... Rockwell Automation (ROK) downgraded to Underperform from Market Perform at Bernstein... Royal Gold (RGLD) downgraded to Market Perform from Outperform at FBR Capital... SEI Investments (SEIC) downgraded to Underperform at Keefe Bruyette... SandRidge Energy (SD) downgraded to Sell from Hold at Wunderlich... Seadrill (SDRL) downgraded to Equal Weight from Overweight at Morgan Stanley... ServiceNow (NOW) downgraded to Neutral from Buy at MKM Partners... State Bank Financial (STBZ) downgraded to Hold from Buy at Sandler O'Neill... Sunoco Logistics (SXL) downgraded at Stifel... Tallgrass Energy GP (TEGP) downgraded to Hold from Buy at Stifel... Tallgrass Energy (TEP) downgraded to Hold from Buy at Stifel... Textron (TXT) downgraded to Hold from Buy at Drexel Hamilton... TripAdvisor (TRIP) downgraded to Underperform from Market Perform at Raymond James... Tupperware Brands (TUP) downgraded to Neutral from Overweight at Piper Jaffray... U.S. Steel (X) downgraded to Hold from Buy at Argus... United Rentals (URI) downgraded to Neutral from Buy at UBS... Welltower (HCN) downgraded to Hold from Buy at Evercore ISI... Western Gas Partners (WES) downgraded to Hold from Buy at Stifel... Whiting Petroleum (WLL) downgraded to Hold from Buy at Wunderlich.
09:19 EDTQCOMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Facebook (FB), up 13.9%... Under Armour (UA), up 14.6%... MicroStrategy (MSTR), up 8.9%... Harley-Davidson (HOG), up 8%... Paypal (PYPL), up 6%... Mellanox (MLNX), up 7.9%... Cirrus Logic (CRUS), up 6.2%... Alibaba (BABA), up 4.5%. ALSO HIGHER: Neos Therapeutics (NEOS), up 61.4% after the FDA approved Adzenys XR-ODT for the treatment of ADHD... Exelixis (EXEL), up 4.7% after the U.S. FDA determined the company's New Drug Application for cabozantinib is sufficiently complete... Kinder Morgan (KMI), up 6.7% after being upgraded at Credit Suisse and Stifel. DOWN AFTER EARNINGS: OSI Systems (OSIS), down 21.3%... ServiceNow (NOW), down 22.3%... eBay (EBAY), down 11.5%... InvenSense (INVN), down 10.5%... Juniper Networks (JNPR), down 9.3%... Hologic (HOLX), down 4.4%... Abbott Laboratories (ABT), down 3.6%... Potash (POT), down 2.1%... Qualcomm (QCOM), down 3.6%.
07:20 EDTQCOMQualcomm price target lowered to $60 from $67 at Brean Capital
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06:50 EDTQCOMQualcomm QCT margins encouraging, says JPMorgan
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06:30 EDTQCOMQualcomm downgraded to Market Perform from Outperform at William Blair
William Blair analyst Anil Doradla downgraded Qualcomm to Market Perform citing weakening fundamentals following the chipmaker's Q1 results. The analyst has a negative outlook on the handset industry and highlights "company-specific structural headwinds on the litigation front." Doradla says there is "not a lot to be positive about" regarding Qualcomm shares.
January 27, 2016
20:05 EDTQCOMQualcomm says deferred over $100M in Q1 revenue due to LG dispute
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16:54 EDTQCOMQualcomm reports Q1 estimated 3G/4G device shipments about 307M-311M
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16:09 EDTQCOMQualcomm CEO says expects improving trends in chipset business in 2H16
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16:08 EDTQCOMQualcomm sees Q2 MSM chip shipments 175M-195M
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16:07 EDTQCOMQualcomm reports Q1 MSM chip shipments 242M
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16:06 EDTQCOMQualcomm sees Q2 adjusted EPS 90c-$1.00, consensus $1.02
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16:05 EDTQCOMQualcomm reports Q1 adjusted EPS 97c, consensus 90c
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14:44 EDTQCOMEarnings Watch: Qualcomm reports after breakup decision, China licensing deals
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14:34 EDTQCOMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Facebook (FB), consensus 68c... Qualcomm (QCOM), consensus 90c... Texas Instruments (TXN), consensus 69c... McKesson (MCK), consensus $3.13... PayPal (PYPL), consensus 35c... Las Vegas Sands (LVS), consensus 65c... eBay (EBAY), consensus 50c... Crown Castle (CCI), consensus $1.10... Vertex (VRTX), consensus 17c... Discover (DFS), consensus $1.30... SanDisk (SNDK), consensus 89c... ServiceNow (NOW), consensus 8c... Lam Research (LRCX), consensus $1.43... Citrix Systems (CTXS), consensus $1.19... Hologic (HOLX), consensus 42c... Juniper (JNPR), consensus 59c... Cavium (CAVM), consensus 28c... Cirrus Logic (CRUS), consensus 81c.
14:28 EDTQCOMQualcomm January weekly 48 straddle priced for 6% movement into Q1
07:19 EDTQCOMQualcomm volatility elevated into Q1 and outlook
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January 26, 2016
18:54 EDTQCOMApple shares slide after mixed Q1 results, slower iPhone sales
Apple (AAPL) shares dipped Tuesday after the tech giant reported first quarter earnings and gave select second quarter guidance. WHAT'S NEW: Apple reported Q1 earnings per share of $3.28, above consensus estimates of $3.23, and revenue of $75.9B, below analyst expectations of $76.59B. The company also issued Q2 revenue guidance of $50B-$53B, against a consensus of $55.64B, and Q2 gross margin between 39%-39.5%. WHAT'S NOTABLE: Apple reported Q1 iPhone sales of 74.78M units, versus 48.05M units sold in the fourth quarter and 74.47M units sold in Q1 of last year. Apple reported Q1 iPad sales of 16.12M units, versus 9.88M units sold in Q4 and 21.42M units sold in Q1 of last year. The company also reported Q1 Mac sales of 5.31M units, versus 5.71M in Q4 and 5.52M units in Q1 of last year. Apple's Other Products revenue, which includes sales of Apple TV, Apple Watch, Beats products, iPod, and Apple-branded and third-party accessories, was $4.35B, versus $2.69B last year. During the company's earnings conference call, Chief Executive Officer Tim Cook remarked that Q1 was the best quarter for Apple TV sales and Apple TV app development, and the Apple Watch set a new quarterly sales record. Cook also said this quarter had more conversions of Android users to iPhones than previous quarters. Cook noted the company is maintaining its investment plans in China while also investing in India and other emerging markets, with the CEO adding that the company remains very bullish on China and is on target to have 40 stores in the region this year. ANALYST REACTION: Piper Jaffray analyst Gene Munster issued a note following the earnings announcement indicating the research firm is maintaining its Overweight rating on the stock. Munster noted that although Apple guided below the Street's expectations, the outlook is above investor fears and will result in the reset of June expectations. Munster continues to expect the stock's multiple to expand as the September iPhone 7 launch approaches, and it remains the firm's top pick for 2016. OTHERS TO WATCH: iPhone suppliers are largely lower following Apple's results. Skyworks (SWKS) has dipped 0.7% to $65.32 while Cirrus Logic (CRUS) is down 2.03%. NXP Semiconductors (NXPI), Qualcomm (QCOM) and Avago Technologies (AVGO) have declined 0.68%, 1.28%, and 1.07%, respectively. PRICE ACTION: Shares of Apple are lower by 2.69% to $97.31 in after-hours trading.
15:03 EDTQCOMEarnings Watch: Apple may report first ever quarter with iPhone unit decline
Apple (AAPL) is set to report earnings for the company's first quarter of fiscal year 2016 after the market close on Tuesday, January 26, with a conference call scheduled for 5:00 pm ET. Apple, the most valuable U.S.-listed company by market capitalization, is the manufacturer of the iPhone and iPad, among other devices. EXPECTATIONS: Analysts are looking for earnings per share of $3.23 on revenue of $76.59B, according to First Call. The consensus range for EPS is $2.83-$3.44 on revenue of $70.65B-$79.96B. Along with its last earnings report, Apple said it sees Q1 revenue of $75.5B-$77.5B and a gross margin between 39%-40%. On average, analysts expect the tech giant to report iPhone units of 75M, according to Bloomberg data that sources nine analyst estimates. iPad units are estimated at 17.3M, Mac units are estimated at 5.8M and Watch units are estimated at 5.3M, according to Bloomberg. LAST QUARTER: On October 27, Apple reported fourth quarter EPS of $1.96, which topped the consensus estimate of $1.88. Fourth quarter revenue of $51.5B also beat the $51.12B consensus expectation. Apple reported iPhone units of 48.05M, iPad units of 9.88M and Mac units of 5.71M in Q4. Apple reported a Q4 gross margin of 39.9%. LAST YEAR: In its first fiscal quarter of last year, Apple reported EPS of $3.06 on revenue of $74.6B and a gross margin of 39.9%. Last year, Apple reported iPhone units of 74.47M, iPad units of 21.42M and 5.52M Mac units in its first quarter. UPCOMING PHONES: According to media reports, Apple's next flagship smartphone, likely called the iPhone 7, will not have a 3.5mm headphone jack, will be thinner, and will likely support wireless charging and be waterproof. Apple is also rumored to soon be releasing a new 4-inch iPhone, known as the "iPhone 5se," that will likely have faster A9/M9 chips and always-on Siri, 9to5Mac reported. The iPhone 5s will be discontinued upon the release of the 5se, which is expected as soon as mid-March, the report said. CAR EFFORTS: Steve Zadesky, who was tapped by Tim Cook to lead Apple's electric car development, is leaving the company, Bloomberg reported on January 24, citing sources. Zadesky stepped down due to personal reasons unrelated to his performance, and the move has not affected Apple's plans to build a car, Bloomberg added. The next day, AppleInsider said Apple has placed a hiring freeze on the team involved with the company's nascent automotive project known as "Project Titan" after company executives became unsatisfied with the project's progress, though CNET then said, citing a source, that contrary to the earlier report Apple Chief Design Officer Jony Ive was not unhappy with the direction of the company's car effort. OTHER NEWS: In early December, CBS (CBS) CEO Les Moonves said Apple had paused development of its live TV service, according to Bloomberg. "They've had conversations on it and I think they pressed the hold button. They were looking for a service," said Moonves, according to the report. Following up on that report, Re/code, citing sources, said Apple had walked away from negotiations with TV industry executives due to issues with the composition of the "skinny bundle" it would offer. Later in the month, Apple announced that Jeff Williams had been named COO and Johny Srouji is joining Apple's executive team as senior vice president for Hardware Technologies. UBS analyst Steven Milunovich said afterward that Williams looks like CEO Tim Cook's successor, adding that Williams had been speculated as next in line since he had been included in presentations, but the promotion to a new position was still unexpected. STREET RESEARCH: On the day after the company's last quarterly report, Pacific Crest analyst Andy Hargreaves upgraded Apple to Overweight, stating that its long-term value offset its remaining near-term risks. On November 18, Goldman Sachs analyst Simona Jankowski upgraded Apple to Conviction Buy, saying the market views Apple as a "hardware" stock, or a company with limited recurring revenue and visibility that only extends to the next product cycle, but over the next year she expects the market focus will shift from unit growth to installed base monetization and recurring revenues, which she dubbed "Apple-as-a-Service." On December 11, BMO Capital analyst Tim Long initiated Apple with an Outperform rating and $145 price target, contending that iPhone unit growth will be in the high single digits for a few years. During mid-to-late December, several analysts, including Morgan Stanley's Katy Huberty, Credit Suisse's Kulbinder Garcha, BofA Merrill Lynch's Wamsi Mohan and UBS' Milunovich, lowered their iPhone unit estimates, citing smartphone supply chain data points and other sources of information. On January 6, Rosenblatt analysts Jun Zhang and Martin Pyykkonen downgraded Apple to Neutral, saying they believe iPhone 6S sales slowed down during the holiday season. On January 11, Mizuho analyst Abhey Lamba upgraded Apple to Buy from Neutral, saying that investors' focus on short-term supply chain data points had created an attractive risk/reward in the tech giant's shares. The next day, Bank of American Merrill Lynch upgraded Apple to Buy, echoing the view that worries that were prompted by supply chain data points had been largely factored into the stock after its pullback. On January 22, Piper Jaffray analyst Gene Munster recommended buying shares of Apple into the company's earnings report, stating that he believes the stock will rally on the iPhone number change cycle and experience multiple expansion over the next six months. Munster, who thinks shares of Apple could achieve upside of over 50% from its recent levels by the iPhone 7 launch in September, kept an Overweight rating on the iPhone maker with a $179 price target. OTHERS TO WATCH: Shares of iPhone suppliers, including Skyworks (SWKS), Cirrus Logic (CRUS), NXP Semiconductors (NXPI), Qualcomm (QCOM), Avago Technologies (AVGO) and Broadcom (BRCM), often move in reaction to Apple's earnings report and guidance. PRICE ACTION: On October 28, the day after Apple reported better than expected fourth quarter sales and profits, the stock advanced a bit over 4%. Since the beginning of the new year, Apple shares have declined more than 4.7%. Over the last three months, the stock has fallen 13% to trade near $100 per share in late afternoon trading ahead of Tuesday's report.
12:37 EDTQCOMQualcomm technical notes ahead of earnings news
If there is strong positive news, the shares based on the current price of $48.73 would likely test above initial resistance at $50. A key level for the stock would be a breakout above $53.50. Should price hit that mark, it would break the current downtrend in shares which began in July 2014. If the news continues to be bearish, the downtrend is likely to persist. In that event support levels to watch as potential downside objectives would be at $47.52, $45.82, and the 52-week low at $44.39.
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