Mizuho Securities Raises Price Target on Qualcomm (QCOM) Following an In-Line 2Q Report

Rosenblatt Downgrades Qualcomm (QCOM) to Neutral

April 21, 2016 10:04 AM EDT

Rosenblatt downgraded Qualcomm (NASDAQ: QCOM) from Buy to Neutral with a price target of $57.00.

Analyst Jun Zhang highlights:

Qualcomm reported a better March quarter and provided mixed guidance for the June quarter. It is in our view that smartphone growth... More

Qualcomm (QCOM) Catch-Up Masks Weak EPS Guide - BMO Capital

April 21, 2016 7:59 AM EDT

BMO Capital analyst, Tim Long, noted that Qualcomm (NASDAQ: QCOM) beat revenues and EPS in the March quarter thanks to higher ASPs for both chips and 3G/4G royalty devices. However, guidance is mixed. MSM units for June are weaker than expected, though this is offset by much higher ASP. No change to the Market Perform... More

China Market, Apple Relationship Still Key for Qualcomm (QCOM), But QCT Shedding Some Tough Comps - Cowen

April 21, 2016 6:43 AM EDT

Cowen and Company affirms Qualcomm (Nasdaq: QCOM) with an Outperform rating and $60 price target following Q2 results and light guidance issued on Wednesday night.

Analyst Timothy Arcuri offered the following commentary on what to do with Qualcomm following the results:

In QTL, the LG dispute is now resolved and fears around a major collapse in the royalty rate are unfounded, but collections in China remain a big challenge even despite new licensing... More

After-Hours Stock Movers 04/20: (NOW) (ARTX) (CTXS) Higher; (TRXC) (TBI) (MAT) Lower (more...)

April 20, 2016 6:13 PM EDT

Today's After-Hours Stock Movers:

TransEnterix (NYSE: TRXC) 65.4% LOWER; announced that the FDA notified the Company on April 19, 2016 that the FDA has determined that the SurgiBot System does not meet the criteria for substantial equivalence based upon the data and information submitted by TransEnterix in its 510(k) submission.

TrueBlue (NYSE: TBI) 21.2% LOWER; reported Q1 EPS of $0.26, $0.01 better than the analyst estimate of $0.25. Revenue for the quarter came in at $646 million versus the consensus estimate of $665.85 million. GUIDANCE: TrueBlue sees... More

Qualcomm (QCOM), Hisense Sign New 3G/4G Chinese Patent License Agreement

April 20, 2016 4:27 PM EDT

Qualcomm Incorporated (NASDAQ: QCOM) today announced that it has signed a new 3G and 4G Chinese Patent License Agreement with Hisense Group Co., Ltd. (Hisense). Under the terms of the agreement, Qualcomm has granted Hisense a royalty-bearing patent license to develop, manufacture and... More

Qualcomm (QCOM), LG Electronics Resolve Arbitration Dispute

April 20, 2016 4:26 PM EDT

Qualcomm Incorporated (NASDAQ: QCOM) and LG Electronics, Inc. (LGE) today announced that the companies have resolved through good faith negotiations an arbitration dispute over certain terms in their license agreement under Qualcomm's leading portfolio of patents covering 3G WCDMA and CDMA2000 and 4G LTE wireless technologies as well as numerous other technologies implemented in wireless devices. Under this resolution, LGE will continue to benefit from access to Qualcomm's... More

Qualcomm profit forecast misses estimates as chip shipments drop

April 20, 2016 4:09 PM EDT

(Reuters) - U.S. chipmaker Qualcomm Inc (NASDAQ: QCOM) forecast third-quarter profit below analysts estimates as it expects to ship fewer chips, including those for smartphones, its biggest business.

The company's shares dropped 3 percent to $50.50 in after market trading on Wednesday, having earlier oscillated between slight gains and losses.

Qualcomm, whose customers include Apple Inc (NASDAQ: AAPL) and Samsung Electronics Co Ltd , said it expects chip shipments to fall 13-22 percent to 175-195 million in the current quarter.

The company... More

Qualcomm (QCOM) Tops Q2 EPS by 8c; Issues Light Q3 EPS Outlook

April 20, 2016 4:03 PM EDT

Qualcomm (NASDAQ: QCOM) reported Q2 EPS of $1.04, $0.08 better than the analyst estimate of $0.96. Revenue for the quarter came in at $5.6 billion versus the consensus estimate of $5.34 billion.

Our fiscal second quarter results were driven by stronger than expected performance across our chipset and licensing... More

Xilinx Inc (XLNX) on Watch Amid Market Chatter

April 20, 2016 10:25 AM EDT

Xilinx Inc (NASDAQ: XLNX) shares were on watch amid unconfirmed takeover chatter involving Qualcomm (NASDAQ: QCOM).

... More

Intel to cut up to 12,000 jobs as PC industry swoons

April 19, 2016 4:16 PM EDT

By Narottam Medhora

(Reuters) - Intel Corp (NASDAQ: INTC) said on Tuesday it would cut up to 12,000 jobs globally, or 11 percent of its workforce, as it refocuses its business towards making microchips that power data centers and Internet connected devices and away from the declining personal computer industry it helped found.

Tech companies including the former Hewlett Packard Co and Microsoft Corp (NASDAQ: MSFT) have reorganized in the face of the PC industry decline. Many new tech users around the world turn to mobile phones for their... More

Trading Radar for 4/20: Coca Cola (KO), TE Connectivity (TEL), Las Vegas Sands (LVS), United Airlines (UAL) Report

April 19, 2016 2:24 PM EDT

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Economics:
7:00am EDT

MBA Mortgage Index - no Street consensus

Earnings:

ABB Ltd. (NYSE: ABB) - consensus EPS $0.22
ARM Holdings plc (Nasdaq: ARMH) - consensus EPS $0.35
ASML Holdings (Nasdaq: ASML) - consensus EPS $0.46
Abbott (NYSE: ABT) - consensus EPS $0.39
Adeptus Health (Nasdaq: ADPT) -... More