Deutsche Bank Downgrades Qualcomm (QCOM) to Hold, 'we see the shares as fairly valued'

After-hours movers: Clorox gains following results; PayPal and Qualcomm fall

After-Hours Stock Movers:

Upwork Inc. (NASDAQ: UPWK) 19% HIGHER; reported Q2 EPS of $0.10, $0.10 better than the analyst estimate of $0.00. Revenue for the quarter came in at $168.61 million versus the consensus estimate of $162.53 million.

DXC Technology (NYSE: DXC) 15% LOWER; reported Q1 EPS of $0.63, $0.19 worse than the analyst estimate of $0.82. Revenue for the quarter came in at $3.45 billion versus the consensus estimate of $3.56 billion. DXC Technology sees Q2 2024 EPS of $0.65-$0.70, versus the consensus of $0.92. DXC Technology sees... More

Qualcomm falls 8% on mixed Q3 results and guidance; Deutsche downgrades

(Updated - August 3, 2023 5:16 AM EDT)

Investing.com -- Qualcomm reported underwhelming guidance for the current quarter after delivering mixed FQ3 results as revenue fell short of estimates amid a softer smartphone demand.

Qualcomm Incorporated (NASDAQ: QCOM) shares fell more than 8% in pre-market Thursday trade following the report.

The chipmaker reported adjusted EPS of $1.87 on revenue of $8.44 billion. Analysts polled by Investing.com anticipated EPS of $1.81 on revenue of $8.51B.

We are pleased with our technology leadership, product roadmap and design-win execution, which position us well... More

Qualcomm (QCOM) Tops Q3 EPS by 6c

Qualcomm (NASDAQ: QCOM) reported Q3 EPS of $1.87, $0.06 better than the analyst estimate of $1.81. Revenue for the quarter came in at $8.44 billion versus the consensus estimate of $8.51 billion.

GUIDANCE:

Qualcomm sees Q4 2023 EPS of $1.80-$2.00, versus the consensus of $1.91. Qualcomm sees... More

Arm targeting $60 billion-plus valuation in September flotation -- Bloomberg

Investing.com -- Softbank-owned British chip designer Arm is targeting an initial public offering at a valuation of between $60 billion to $70B as soon as September, according to a Bloomberg News report citing unnamed sources.

A person familiar with the matter told Bloomberg that the roadshow will kick off during the first week of... More

Qualcomm (QCOM) call put ratio 2.3 calls to 1 put. into quarter results

Qualcomm (NASDAQ: QCOM) August weekly call option implied volatility is at 84, August is at 42; compared to its 52-week range of 28 to 58 into the expected release of quarter results today after the bell. Call put ratio 2.3 calls to 1 put.

Fitch downgrades U.S. credit rating, AMD's AI chip plans - what's moving markets

Investing.com -- U.S. stock futures fall after Fitch lowers its U.S. credit rating, flagging worries over Washington's ability to resolve pressing fiscal issues in the wake of a tense debt-limit standoff earlier this year. Elsewhere, semiconductor firm Advanced Micro Devices predicts that the planned launch of its new artificial intelligence chips will drive earnings higher this year, while Starbucks sees demand for its coffee and food offerings slow in North America.

1. Fitch downgrades U.S. credit rating

Fitch has lowered its rating of U.S. debt to AA+ from the top tier... More

Qualcomm earnings, Shopify reports, CVS Health: 3 things to watch

Investing.com -- Stocks wobbled on Tuesday as investors took in a deluge of reports from S&P 500 companies as they await July's jobs report on Friday.

It's the busiest week of earnings, with reports due out later from Apple (NASDAQ: AAPL) and... More

Qualcomm (QCOM) option IV elevated into quarter results

Qualcomm (NASDAQ: QCOM) August weekly call option implied volatility is at 73, August is at 39; compared to its 52-week range of 28 to 58 into the expected release of quarter results after the bell on August 2.