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News For VZ;INTC;GOOG;QCOM;CSCO;FIRE;BRCD;VMW;RHT From The Last 14 Days
Check below for free stories on VZ;INTC;GOOG;QCOM;CSCO;FIRE;BRCD;VMW;RHT the last two weeks.
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April 23, 2014
16:29 EDTQCOMQualcomm received SEC wells notice related to bribery allegations in China
Qualcomm disclosed in a filing that on March 13 the company received a "Wells Notice" from the SEC’s Los Angeles Regional Office indicating that the staff has made a preliminary determination to recommend that the SEC file an enforcement action against the company for violations of the anti-bribery, books and records and internal control provisions of the FCPA. The bribery allegations relate to benefits offered or provided to individuals associated with Chinese state-owned companies or agencies. The Wells Notice indicated that the recommendation could involve a civil injunctive action and could seek remedies that include disgorgement of profits, the retention of an independent compliance monitor to review the Company’s FCPA policies and procedures, an injunction, civil monetary penalties and prejudgment interest. On April 4, the company made a Wells submission to the staff of the Los Angeles Regional Office explaining why the company believes it has not violated the FCPA and therefore enforcement action is not warranted. The company said it is continuing to cooperate with the SEC and the DOJ, but is unable to predict the outcome of their investigations or any action that the SEC may decide to file. Qualcomm explained that a Wells Notice is not a formal allegation or finding by the SEC of wrongdoing or violation of law. Rather, the purpose of a Wells Notice is to give the recipient an opportunity to make a “Wells submission” setting forth reasons why the proposed enforcement action should not be filed and/or bringing additional facts to the SEC’s attention before any decision is made by the SEC as to whether to commence a proceeding.
16:09 EDTQCOMQualcomm slides after results, first look
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16:07 EDTQCOMQualcomm sees Q3 MSM chip shipments 198M-213M units
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16:05 EDTQCOMQualcomm reports Q2 MSM chip shipments 188M units, up 9% YoY
16:04 EDTQCOMQualcomm raises FY14 adjusted EPS view to $5.05-$5.25 from $5.00-$5.20
FY14 consensus $5.13. Sees FY14 revenue $26B-$27.5B, consensus $26.8B.
16:02 EDTQCOMQualcomm sees Q3 adjusted EPS $1.15-$1.25, consensus $1.25
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16:01 EDTQCOMQualcomm raises FY14 EPS outlook
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16:01 EDTQCOMQualcomm reports Q2 adjusted EPS $1.31, consensus $1.22
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15:55 EDTVZNew FCC proposal to let ISPs charge for special access, WSJ says
The Federal Communications Commission plans to propose new "net neutrality" rules on Thursday that would block Internet service providers from discriminating against specific websites, but would allow providers to charge content companies for preferential treatment of their traffic, according to The Wall Street Journal, citing a person familiar with the proposal. Netflix (NFLX) CEO Reed Hastings had been outspoken in the past in his opposition of the FCC's previous net neutrality rules. Broadband ISPs include Comcast (CMCSA), Time Warner Cable (TWC), Cablevision (CVC), Verizon (VZ), and AT&T (T). Reference Link
15:41 EDTQCOMNotable companies reporting after market close
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15:37 EDTVZFCC to propose to let ISPs charge content companies for special access, DJ says
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15:35 EDTVZNotable companies reporting before tomorrow's open
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15:20 EDTQCOMEarnings Preview: Qualcomm mentioned positively by firms throughout April
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13:21 EDTVZVerizon April weekly volatility up into Q1 and outlook
Verizon April weekly call option implied volatility is at 33, June is at 14, July and October is at 13; compared to 26-week average of 17 according to Track Data, suggesting large near term price movement into the expected release of Q1 results.
13:18 EDTVZEarnings Preview: Jefferies sees upside to 2014 consensus estimates for Verizon
Verizon Communications (VZ) is expected to report first quarter earnings before the market open on Thursday, April 24, with a conference call scheduled for 8:30 am ET. Verizon is a holding company providing communications, information and entertainment. EXPECTATIONS: Analysts are looking for earnings per share of 87c on revenue of $30.7B, according to First Call. The consensus range for EPS is 82c-92c on revenue of $30.33B-$31.05B. LAST QUARTER: Verizon reported fourth quarter adjusted EPS of 66c against estimates for 65c on revenue of $31.07B against estimates for $31.02B. For Q4, the company reported Wireless Retail Customers up 4.7% to 102.8M; Wireless Retail Postpaid Church 0.96%; 126,000 FiOS Internet and 92,000 Video net additions in Q4. On February 21, the company completed the acquisition of Vodafone's (VOD) 45% interest in Verizon Wireless. The transaction is immediately accretive to Verizon's earnings per share by approximately 10%. On March 7, Verizon's board authorized the corporation to repurchase up to 100M shares of its common stock. STREET RESEARCH: Street research has been mostly positive in the weeks leading up to Verizon's Q1 earnings report. Negative sentiment came on January 22 when Pacific Crest downgraded the stock to Sector Perform from Outperform, as it expected the company's margins to be pressured by increased competition. Research firm Jefferies has been positive on Verizon throughout the quarter. On February 20, Jefferies said Verizon should be bought following recent pullback The firm attributed the recent weakness in part to technical pressures into the Vodafone/Verizon Wireless transaction and said negative sentiment on the name was overdone. Jefferies kept a Buy rating on the stock with a $55 price target. On April 17, Jefferies said the 2014 consensus estimates for Verizon had upside given the better than expected equipment installment plans market. The firm sees 17% upside to its year-end price target of $55 and it kept a Buy rating on Verizon. PRICE ACTION: Verizon shares have traded sideways in a narrow range following the company's Q4 report. However, over the past twelve months, they are down about 9%. In afternoon trading ahead of Thursday's Q1 report, Verizon’s shares are down 0.9%.
12:57 EDTVMWEMC profit cycle bottomed in Q1, says Cantor
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12:51 EDTVZOn The Fly: Midday Wrap
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12:01 EDTVMWVMware sinks after enterprise licenses, outlook may have disappointed
Shares of VMware (VMW), a provider of virtualization infrastructure solutions, are among today's losers despite the company having reported results that beat the consensus forecast. Several analysts contended that the company reaffirming its full-year outlook and reporting lower than expected enterprise license agreements as a percentage of bookings may have disappointed investors. WHAT'S NEW: Last night, VMware reported first quarter earnings per share of 80c and revenue of $1.36B, compared to expectations of 79c and $1.35B, respectively. VMware said Q1 license and total bookings growth was less than 10% compared to the prior year. VMware forecast Q2 revenue of $1.43B-$1.47B, compared to consensus of $1.44B. The company reaffirmed its fiscal 2014 revenue view of $5.94B-$6.1B, versus consensus of $6.03B. It also expects FY14 non-GAAP operating margin of approximately 31%. FY14 license revenue was expected to be $2.55B-$2.63B, up 12%-16% from the prior year. ANALYST REACTION: This morning, research firms Oppenheimer, Pacific Crest, and Raymond James all recommended buying VMware on any weakness. Pacific Crest said lower than expected enterprise license agreements as a percentage of bookings and weaker overall bookings growth disappointed the Street. Another firm, Janney Capital, said it believes investors may be slightly disappointed that VMware reiterated its prior guidance after its Q1 EPS slightly beat expectations. However, the firm believes the stock's valuation offers a good entry point and reiterates its Buy rating on the name. PRICE ACTION: In late morning trading, VMware fell $9.15, or 8.7%, to $96 on heavy trading volume. Despite today's pull back, the stock is up approximately 27% over the past twelve months. ANOTHER TO WATCH: EMC (EMC), which is the majority owner of VMware, reported earnings and revenue that were roughly in-line with expectations and raised its quarterly dividend. However, EMC lowered its 2014 EPS outlook to $1.90 from $1.95, which was below the consensus $1.94 forecast, and its shares were down 3% to $25.94 near noon.
12:00 EDTVMWVMware falls 8.8%
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10:21 EDTVZAT&T slumps after failing to raise profit guidance
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