Qualcomm (QCOM) Tops Q3 EPS by 30c, Expects to Terminate NXP (NXPI) Deal if Not Approved

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Go back to Qualcomm (QCOM) Tops Q3 EPS by 30c, Expects to Terminate NXP (NXPI) Deal if Not Approved

Qualcomm (QCOM) PT Raised to $72 at RBC Capital

July 26, 2018 8:38 AM EDT

RBC Capital raised its price target on Qualcomm (NASDAQ: QCOM) to $72.00 (from $70.00) while maintaining an Outperform rating following results.

Analyst Amit Daryanani commented, "QCOM delivered solid results and guidance, and more importantly provided better clarity on capital management."

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Qualcomm (QCOM) Reports Termination of NXP Semi (NXPI) Acquisition, Triggers $2B Termination Fee to NXPI; QCOM Announces $30B Share Buyback

July 26, 2018 6:01 AM EDT

Qualcomm Incorporated (NASDAQ: QCOM) ("Qualcomm" or "the Company") today announced the termination of the acquisition of NXP Semiconductors N.V. (NASDAQ: NXPI) ("NXP") by Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, effective immediately. In accordance with the terms of the purchase agreement, Qualcomm River Holdings will pay a termination fee of $2 billion to NXP on July 26, 2018. In connection with this termination, Qualcomm River Holdings has terminated its previously announced cash tender offer to acquire all of the outstanding shares of NXP.

Qualcomm... More