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QCOM

Qualcomm

$58.86

-0.22 (-0.37%)

, NXPI

NXP Semiconductors

$100.67

-4.23 (-4.03%)

09:37
07/25/18
07/25
09:37
07/25/18
09:37

Qualcomm has heard nothing from Chinese authorities, CNBC reports

Qualcomm (QCOM) has heard nothing as of this morning from Chinese regulators regarding its proposed acquisition of NXP Semiconductors (NXPI), CNBC's David Faber reports, citing sources. The deadline for regulatory approval is tonight.

QCOM

Qualcomm

$58.86

-0.22 (-0.37%)

NXPI

NXP Semiconductors

$100.67

-4.23 (-4.03%)

  • 25

    Jul

  • 07

    Aug

QCOM Qualcomm
$58.86

-0.22 (-0.37%)

07/23/18
DBAB
07/23/18
NO CHANGE
Target $60
DBAB
Hold
Qualcomm price target raised to $60 from $55 at Deutsche Bank
Deutsche Bank analyst Ross Seymore raised his price target for Qualcomm (QCOM) shares to $60 after concluding that removal of the uncertainty from the NXP Semiconductors (NXPI) deal likely leads to incremental upside in either scenario. The analyst says he has no way of assigning probabilities of deal approval given the politically charged nature of the pending regulatory ruling from China's State Administration for Market Regulation. This week holds a number of significant catalysts/risks for both companies as the purchase agreement deadline and Qualcomm's Q3 earnings report are on Wednesday, Seymore tells investors in a research note. Seymore keeps Hold ratings on both Qualcomm and NXP.
07/23/18
MSCO
07/23/18
NO CHANGE
MSCO
Tariff uncertainty a potential risk to semiconductor demand, says Morgan Stanley
Morgan Stanley analyst Joseph Moore said the firm's quarterly survey of distributors leads him to expect "solid" Q2 results and Q3 guidance from broad-based semiconductor companies this earnings season as demand remains strong. However, the present tariff related uncertainty present a risk for a "demand shock" that could lead to an inventory unwind in the semi supply chain, Moore warns investors. He thinks the potential of further semi stock outperformance is limited at this stage of the cycle, while "even the slightest whiff on the demand front" could lead to a significant decline in stocks, he tells investors. Moore added that he favors companies with more defensive characteristics, such as Analog Devices (ADI), over those with more commodity exposure and lower margins, like Cypress Semiconductor (CY). Other publicly traded companies in the semiconductors space include Micron (MU), AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Nvidia (NVDA), Qualcomm (QCOM) and Texas Instruments (TXN). Shares of Micron are down 2.5% in pre-market trading to $53.65.
07/23/18
07/23/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. STIFEL SAYS SELL PAPA JOHN'S: Stifel analyst Chris O'Cull downgraded Papa John's (PZZA) to Sell from Hold and cut his price target for the shares to $38 from $50. The outlook for Papa John's is "growing dimmer" after recent media reports indicated a "fraternal corporate culture," O'Cull told investors. The reports reinforce the consumer perception that Papa John's is not a trusted brand, the analyst added. His recent channel checks indicate the company's domestic same-restaurant-sales are running down in the mid-teens since last week's media report about the company's founder using a racial slur. Papa John's is in a "precarious position," as it needs a "strategic savior" but is struggling to find one "willing to underwrite a transaction given the brand damage," O'Cull contended. Papa John's shares are down 7% in midday trading BTIG SAYS BUY SPOTIFY: BTIG analyst Rich Greenfield initiated Spotify (SPOT) with a Buy rating and a price target of $230, saying that awaiting a better entry on the stock price "has not worked." The analyst contended that the company will be a "long-term winner" in the subscription music category that remains in its infancy and will "grow significantly for years to come." DEUTSCHE RAISES QUALCOMM TARGET TO $60: Deutsche Bank analyst Ross Seymore raised his price target for Qualcomm (QCOM) shares to $60 from $55 after concluding that removal of the uncertainty from the NXP Semiconductors (NXPI) deal likely leads to incremental upside in either scenario. The analyst said he has no way of assigning probabilities of deal approval given the politically charged nature of the pending regulatory ruling from China's State Administration for Market Regulation. Seymore kept Hold ratings on both Qualcomm and NXP. ARGUS CUTS GE TO HOLD: Argus analyst John Eade downgraded General Electric (GE) to Hold from Buy, saying that despite his expectations of a turnaround, Q2 results were a "step in the opposite direction" suggesting the company will struggle to meet its FY18 guidance. Eade lowered his FY18 EPS forecast to 97c from $1.03, adding that GE will need to show at least two quarter of progress before he would reconsider his rating. The analyst prefers other large industrials such as Illinois Tool Works (ITW), United Technologies (UTX) and Boeing (BA) over General Electric, he added.
07/24/18
MZHO
07/24/18
NO CHANGE
MZHO
Qualcomm, NXP deal seems headed for a breakup, says Mizuho
Barring an 11th hour approval, Qualcomm's (QCOM) proposed acquisition of NXP Semiconductors (NXPI) is headed for a breakup, Mizuho analyst Vijay Rakesh tells investors in a research note. The analyst says his firm's arbitrage desk sees only a 22% probability of the deal happening.
NXPI NXP Semiconductors
$100.67

-4.23 (-4.03%)

07/16/18
MSCO
07/16/18
NO CHANGE
MSCO
Equal Weight
Morgan Stanley says odds rising of NXP walking away if China won't approve deal
Morgan Stanley analyst Craig Hettenbach said that he, and colleague James Faucette who covers Qualcomm (QCOM) at the firm, agree that closing their deal is the best path forward for both NXP Semiconductors (NXPI) and Qualcomm. However, given that the merger agreement expires in 9 days and U.S. China trade relations have taken an "uncertain turn," he thinks that the odds of NXP walking away and collecting a $2B break fee have increased if China does not approve the deal. Hettenbach sees 18% upside to the $127.50 takeout price and 14% downside to the $92 level of support he has previously identified in the event of a deal break and maintains an Equal Weight rating on NXP shares.

TODAY'S FREE FLY STORIES

WFC

Wells Fargo

$46.00

-0.7 (-1.50%)

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MOMO

Momo

$33.77

-0.62 (-1.80%)

10:55
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10:55
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ATRA

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VNO

Vornado

$65.42

-0.06 (-0.09%)

10:49
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Vornado sees 5c decrease in Q2 FFO due to certain items »

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CCJ

Cameco

$10.24

0.03 (0.29%)

10:45
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10:45
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10:45
Options
Cameco call volume above normal and directionally bullish »

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WFC

Wells Fargo

$46.25

-0.45 (-0.96%)

10:41
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Breaking Hot Stocks news story on Wells Fargo »

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  • 16

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SNE

Sony

$54.33

-1.44 (-2.58%)

10:35
07/16/19
07/16
10:35
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10:35
Options
Sony put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 30

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WFC

Wells Fargo

$46.55

-0.15 (-0.32%)

10:33
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  • 16

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GCAP

Gain Capital

$4.54

0.51 (12.66%)

10:29
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Hot Stocks
Gain Capital up 50c, or 12%, to $4.53 in early trading »

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  • 25

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WFC

Wells Fargo

$46.88

0.18 (0.39%)

10:27
07/16/19
07/16
10:27
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10:27
Hot Stocks
Breaking Hot Stocks news story on Wells Fargo »

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  • 16

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WFC

Wells Fargo

$46.88

0.18 (0.39%)

10:26
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  • 16

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KMX

CarMax

$84.47

-4.31 (-4.85%)

10:25
07/16/19
07/16
10:25
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10:25
Options
CarMax call volume above normal and directionally bullish »

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  • 24

    Sep

EGHT

8x8, Inc.

$25.38

-0.24 (-0.94%)

, FIVN

Five9

$50.13

2.13 (4.44%)

10:25
07/16/19
07/16
10:25
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10:25
Conference/Events
Stephens communications analysts to hold an analyst/industry conference call »

Communications Analysts,…

EGHT

8x8, Inc.

$25.38

-0.24 (-0.94%)

FIVN

Five9

$50.13

2.13 (4.44%)

LOGM

LogMeln

$76.20

-0.37 (-0.48%)

RNG

RingCentral

$124.44

1.13 (0.92%)

WORK

Slack Technologies

$34.84

0.06 (0.17%)

TWLO

Twilio

$147.01

1.655 (1.14%)

VG

Vonage

$12.82

0.03 (0.23%)

ZM

Zoom Video

$98.50

-1.26 (-1.26%)

GOOG

Alphabet

$1,150.69

0.3 (0.03%)

MSFT

Microsoft

$138.20

-0.74 (-0.53%)

AMZN

Amazon.com

$2,019.00

-2 (-0.10%)

03/08/13
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  • 27

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  • 13

    Nov

UBER

Uber

$44.49

-0.02 (-0.04%)

, LYFT

Lyft

$64.80

(0.00%)

10:22
07/16/19
07/16
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Periodicals
Court says NYC can ban ads inside Uber, Lyft vehicles, Reuters reports »

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UBER

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$44.49

-0.02 (-0.04%)

LYFT

Lyft

$64.80

(0.00%)

03/08/13
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  • 07

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FCAU

Fiat Chrysler

$13.61

-0.565 (-3.99%)

, WORK

Slack Technologies

$34.75

-0.03 (-0.09%)

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FCAU

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$13.61

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WORK

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BTE

Baytex Energy

$1.47

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TOWN

TowneBank

$26.85

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VET

Vermilion Energy

$21.76

-0.2 (-0.91%)

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HD

Home Depot

$218.16

-0.55 (-0.25%)

, SON

Sonoco

$64.48

-0.005 (-0.01%)

10:20
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HD

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SON

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PH

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$172.01

4.33 (2.58%)

FDS

FactSet

$281.22

-13.02 (-4.43%)

KMT

Kennametal

$35.09

0.295 (0.85%)

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LH

LabCorp

$174.70

0.155 (0.09%)

, TKR

Timken

$48.61

0.92 (1.93%)

10:20
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LH

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TKR

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FCX

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WPM

Wheaton Precious Metals

$24.45

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OMF

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$35.07

1.135 (3.34%)

NOK

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$5.15

0.045 (0.88%)

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RTN

Raytheon

$178.96

0.88 (0.49%)

10:19
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  • 25

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
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NYSE market internals summary »

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