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Stock Market & Financial Investment News

News Breaks
April 23, 2014
09:14 EDTTXNTexas Instruments April weekly volatility elevated into Q1
Texas Instruments April weekly call option implied volatility is at 52, May is at 24, June is at 21, October is at 19; compared to its 26-week average of 21 according to Track Data, suggesting large near term price movement into the expected release of Q1 results today after the market close.
News For TXN From The Last 14 Days
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July 22, 2015
17:30 EDTTXNTexas Instruments moves up fractionally after Q2 results, guidance
16:36 EDTTXNTexas Instruments notes weak demand in communications equipment
The company commented on Q2: "Revenue declined 2% year over year, inclusive of notably weak demand in communications equipment and continued strong demand in automotive. Even so, our core businesses of Analog and Embedded Processing, together, grew slightly year over year and comprised 85% of second-quarter revenue. Analog delivered its eighth consecutive quarter of year-over-year growth. Gross margin of 58.2% was up 1 percentage point from a year ago, reflecting the diversity and longevity of our product portfolio, as well as the efficiency of our manufacturing strategy"
16:33 EDTTXNTexas Instruments sees Q3 EPS 62c-72c, consensus 75c
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16:31 EDTTXNTexas Instruments reports Q2 EPS 65c, consensus 65c
Reports Q2 revenue $3.23B, consensus $3.26B.
15:26 EDTTXNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
14:51 EDTTXNEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
14:14 EDTTXNEarnings Watch: TI upgraded at UBS, Raymond James since last report
Texas Instruments (TXN) is expected to report second quarter earnings after the close on Wednesday, July 22, with a conference call scheduled for 5:30PM EDT. Texas Instruments is a global semiconductor manufacturer operating in four segments: Analog, Embedded Processing, Wireless and Other. EXPECTATIONS: Analysts are looking for earnings per share of 65c on revenue of $3.26B. The consensus range is 64c-68c on revenue of $3.25B-$3.31B, according to First Call. In its previous earnings release, Texas Instruments said it expected Q2 EPS of 60c-70c on revenue of $3.12B-$3.38B. LAST QUARTER: On April 22, Texas Instruments reported Q1 earnings per share of 61c, falling just short of the consensus 62c forecast. Its Q1 revenue was $3.15B, below the consensus forecast of $3.2B. NEWS: Less than one week after reporting Q1 earnings, Texas Instruments announced that it was working with SIGFOX to increase IoT deployments using the Sub-1 GHz spectrum. On June 18, Texas Instruments named Janet Clark to its board of directors, which was made effective on July 15. Clark, who spent the first 20 years of her career in investment banking and financial consulting before serving as CFO at several energy companies, most recently spent a decade at Marathon Oil (MRO). STREET RESEARCH: On the day after TI's last earnings report, Bank of America Merrill Lynch downgraded the stock to Neutral and lowered its price target to $59 from $62. The firm said 2015 sales growth will substantially decelerate and noted it expected shares to remain range-bound until visibility returns. Four days later, Raymond James upgraded Texas Instruments to Strong Buy with a $62 price target. The firm said at the time that the recent pullback in shares provided positive risk/reward given the company's dominant share in analog, high free cash flow and strong channel relationships. On July 20, UBS upgraded Texas Instruments to Buy from Neutral since its proprietary model suggested that the company's Q2 revenues should beat consensus by 2%. The firm said with the recent pullback, expectations for bad news and evidence of stable demand its Q2 revenue beat should surprise the Street view. UBS maintained its $55 price target on Texas Instruments shares. PRICE ACTION: In afternoon trading, Texas Instruments shares were down 2% at $49.24. Over the last three months, TI shares have dropped about 16%.
12:35 EDTTXNAnalog chip makers fall after Linear cites weak end market demand
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11:00 EDTTXNTexas Instruments technical notes ahead of earnings
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09:48 EDTTXNTexas Instruments retesting recent low, levels to watch
The shares are at $48.48 at time of writing, close to the low of July 9th at $48.09. On a breakdown below that low, next support would be at $47.53. Resistance is at $49.32, the 10-day moving average.
July 21, 2015
13:28 EDTTXNTexas Instruments July weekly volatility elevated into Q2 and outlook
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July 20, 2015
10:00 EDTTXNOn The Fly: Analyst Upgrade Summary
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08:48 EDTTXNTexas Instruments upgraded to Buy at UBS
As reported previously, UBS upgraded Texas Instruments to Buy from Neutral as their proprietary model suggests Q2 revenues should beat consensus by 2%. The firm said with the recent pullback, expectations for bad news and evidence of stable demand its Q2 revenue beat should surprise the Street view. UBS maintained its $55 price target on Texas Instruments shares.
07:59 EDTTXNTexas Instruments upgraded to Buy from Neutral at UBS
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