Oppenheimer Cuts Price Target on Qualcomm (QCOM) Following 3Q15 Results

Qualcomm (QCOM) PT Lowered to $75 at Canaccord Genuity

July 23, 2015 8:15 AM EDT

Canaccord Genuity analyst T. Michael Walkley trimmed his price target on Qualcomm (NASDAQ: QCOM) to $75.00 (from $77.00) following earnings and the company's realignment plans.

Walkley commented, "alcomm reported Q3/F2015 results with pro forma EPS of $0.99 above our $0.93 estimate due to slightly stronger QCT shipments and a lower share count given... More

Tsinghua Holdings chief says still in Micron talks, hopeful on deal

July 23, 2015 6:52 AM EDT

By Michael Gold

TAIPEI (Reuters) - China's Tsinghua Holdings is still discussing a potential deal to buy U.S. chipmaker Micron Technology Inc (NYSE: MU) and hopes it could eventually go through, the state-backed investment company's chairman told Reuters on Thursday.

Sources told Reuters earlier this week that Micron has dismissed an informal $23 billion offer from Tsinghua Unigroup, a private equity subsidiary of Tsinghua Holdings, on... More

Qualcomm (QCOM) Bullish View Maintained at Cowen Following Realignment; PT Trimmed to $72

July 23, 2015 6:49 AM EDT

Cowen analyst Timothy Arcuri trimmed his price target on Qualcomm (NASDAQ: QCOM) to $72.00 (from $75.00) following Q2 results and the company's realignment but maintained a Outperform rating.

Arcuri commented, "We stayed at Outperform through some rough patches and now QCOM is finally... More

After-Hours Stock Movers 07/22: (SNDK) (FFIV) (CRUS) Higher; (CVA) (URI) (QCOM) Lower (more...)

July 22, 2015 6:03 PM EDT

Flotek Industries (NYSE: FTK) 14.2% HIGHER; reported Q2 EPS of ($0.02), $0.05 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $87 million versus the consensus estimate of $69.37 million.

Sandisk Corp. (NASDAQ: SNDK) 13.1% HIGHER; reported Q2 non-GAAP EPS of $0.66, $0.33 better than the analyst estimate of $0.33. EPS was down from $1.41 last year. Revenue for the quarter fell 24% from last year to $1.24 billion, but beat the consensus estimate of $1.2 billion. Reaffirms FY15 outlook.

Ultra Clean Holdings (NASDAQ:... More

Market Wrap: Apple Pressures Markets; Oil Moves Back Below $50/bbl.; Caesars Hit on Adverse Ruling

July 22, 2015 5:20 PM EDT

Market wrap for July 22nd

End of the Day: S&P 500 down 5.1 to 2,114.15; Dow Jones down 68.3 to 17,851.04; Nasdaq down 36.4 to 5,171.77

Market Brief: Markets were weighed by Apple today following the tech giant's Q3 report and guidance. Shares of Apple closed down 4.2 percent on the session, or about $32 billion of market cap.

Qualcomm reported earnings and announced restructuring after markets closed today.

Housing prices gained in May, but came in flat with consensus expectations. Existing home sales outpaged in... More

Qualcomm (QCOM) Posts Q3 EPS of 99c; Announces Strategic Realignment

July 22, 2015 4:02 PM EDT

(Updated - July 22, 2015 4:03 PM EDT)

Qualcomm (NASDAQ: QCOM) reported Q3 EPS of $0.99, versus the analyst estimate of $0.95. Revenue for the quarter came in at $5.8 billion versus the consensus estimate of $5.85 billion.

Business Outlook

The following statements are forward looking, and actual results may differ materially. The "Note Regarding Forward-Looking Statements" in this news release provides a description of certain risks that we face, and our most recent annual and quarterly reports on file with the Securities and Exchange Commission (SEC) provide a more complete description of risks.

Our... More

Streetinsider.com's Hot Lunchtime Reads 7/22: (AN) (QCOM) (AXON) (BIIB)

July 22, 2015 12:14 PM EDT

The following is a list of notable articles to help get you through the lunch hour:Eli Lilly (LLY) Bullish Stance Reiterated at Leerink Partners Following EXPEDITION Extension Study Data ->... More

China Demand, L-T QCT Margin Guidance Key for Qualcomm (QCOM) into Q3 Report - Cowen

July 22, 2015 11:16 AM EDT

Cowen and Company is out with a preview of Qualcomm (Nasdaq: QCOM) ahead of the company's Q3 report today.

Analyst Timothy Arcuri is looking for Qualcomm to post Q3 revenue and EPS of $4.91 billion and $0.96, respectively. Estimates are slightly above guidance midpoints.

Arcuri is modeling 220 million QCT chipset shipments with average selling prices down about 8 percent sequentially. The analyst continued, We model trough QCT operating margins (down ~990bps Q/Q) on lower volumes and... More

Qualcomm (QCOM) Chips Seen Being Used in Upcoming, Low-End Windows 10 Smartphones (MSFT)

July 22, 2015 10:59 AM EDT

Qualcomm (Nasdaq: QCOM) is expected to launch a low-cost smartphone with Microsoft (Nasdaq: MSFT) as it seeks further penetration into the entry-level mobile device market.

According to Digitimes, Qualcomm has seen a significant... More

Apple (AAPL) Suppliers Decline as Shares Plunge Post-Earnings

July 21, 2015 4:51 PM EDT

Apple (NASDAQ: AAPL) suppliers declined post-market after the tech giant reported Q3 results that failed to impress.

Related names include:

Avago Tech (NASDAQ: AVGO)Broadcom (NASDAQ: BRCM)Cirrus Logic, Inc. (NASDAQ: CRUS)InvenSense (NYSE: INVN)Qualcomm (NASDAQ: QCOM)NXP Semiconductors (NASDAQ: NXPI)
... More

Trading Radar for 7/22: Texas Instruments (TXN), Qualcomm (QCOM), Whirlpool (WHR), Las Vegas Sands (LVS), Xilinx (XLNX) Report

July 21, 2015 3:19 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

9:00am EDT

FHFA Housing Price Index - no Street consensus

Earnings:

Abbott (NYSE: ABT) - consensus EPS $0.50
Acme United (NYSE: ACU) - consensus EPS $0.76
Angie's List (Nasdaq: ANGI) - consensus loss $0.17
Arctic Cat (Nasdaq:... More

Qualcomm (QCOM) May Consider Breakup - DJ

July 21, 2015 6:39 AM EDT

Qualcomm (NASDAQ: QCOM) may announced it is conducting a strategic review that will look at the possibility of a breakup, among other options, according to Dow Jones sources. The review comes amid pressure from activists, and could be announced Wednesday when the company reports quarterly results.

... More