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NXPI

NXP Semiconductors

$99.81

-0.86 (-0.85%)

, QCOM

Qualcomm

$58.62

-0.24 (-0.41%)

14:52
07/25/18
07/25
14:52
07/25/18
14:52

Qualcomm preparing to give up on NXP deal, do buybacks instead, CNBC says

While there's still a chance China's State Administration for Market Regulation could make a last minute announcement to approve Qualcomm's (QCOM) deal to buy NXP Semiconductors (NXPI), the company now sees the likelihood of an agreement as "very slim," a person familiar with the matter told CNBC's Alex Sherman. Qualcomm CEO Steve Mollenkopf plans to lay out the company's share buyback plan when the company announces earnings after the closing bell today and the company is expected to add "billions more" to the $10B share buyback program it already has approved if it walks away from the deal to buy NXP, CNBC's Sherman added. Reference Link

NXPI

NXP Semiconductors

$99.81

-0.86 (-0.85%)

QCOM

Qualcomm

$58.62

-0.24 (-0.41%)

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    Aug

NXPI NXP Semiconductors
$99.81

-0.86 (-0.85%)

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.
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.
07/23/18
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.
07/16/18
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.
QCOM Qualcomm
$58.62

-0.24 (-0.41%)

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.

TODAY'S FREE FLY STORIES

SPY

SPDR S&P 500 ETF Trust

$298.86

1.07 (0.36%)

, SPX

S&P 500

$0.00

(0.00%)

20:32
07/18/19
07/18
20:32
07/18/19
20:32
General News
Trump to nominate Gene Scalia as Secretary of Labor »

President Trump tweeted:…

SPY

SPDR S&P 500 ETF Trust

$298.86

1.07 (0.36%)

SPX

S&P 500

$0.00

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AXP

American Express

$128.40

1.355 (1.07%)

, BLK

BlackRock

$474.98

4.06 (0.86%)

20:25
07/18/19
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20:25
07/18/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

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AXP

American Express

$128.40

1.355 (1.07%)

BLK

BlackRock

$474.98

4.06 (0.86%)

SLB

Schlumberger

$38.78

0.15 (0.39%)

SYF

Synchrony

$36.09

0.54 (1.52%)

STT

State Street

$56.27

1.67 (3.06%)

CFG

Citizens Financial

$34.62

0.27 (0.79%)

RF

Regions Financial

$14.76

0.06 (0.41%)

KSU

Kansas City Southern

$118.03

1.22 (1.04%)

ALV

Autoliv

$69.88

0.04 (0.06%)

GNTX

Gentex

$23.54

0.01 (0.04%)

MAN

ManpowerGroup

$90.30

0.82 (0.92%)

CLF

Cleveland-Cliffs

$10.88

-0.11 (-1.00%)

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POST

Post Holdings

$108.09

0.64 (0.60%)

20:12
07/18/19
07/18
20:12
07/18/19
20:12
Upgrade
Post Holdings rating change at Piper Jaffray »

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VMW

VMware

$174.34

0.13 (0.07%)

19:01
07/18/19
07/18
19:01
07/18/19
19:01
Hot Stocks
VMware to acquire Bitfusion, terms not disclosed »

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  • 03

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CRWD

Crowdstrike

$72.75

1.77 (2.49%)

, SKX

Skechers

$34.75

0.35 (1.02%)

18:50
07/18/19
07/18
18:50
07/18/19
18:50
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS:…

CRWD

Crowdstrike

$72.75

1.77 (2.49%)

SKX

Skechers

$34.75

0.35 (1.02%)

EXPO

Exponent

$61.63

0.83 (1.37%)

MSFT

Microsoft

$136.29

0.06 (0.04%)

CHWY

Chewy

$32.79

1.14 (3.60%)

RRGB

Red Robin

$30.58

0.32 (1.06%)

GCI

Gannett

$7.90

-0.185 (-2.29%)

IFRX

InflaRx

$3.12

0.05 (1.63%)

BA

Boeing

$361.17

-8.28 (-2.24%)

MVIS

MicroVision

$0.86

0.0458 (5.62%)

OZK

Bank OZK

$28.61

0.5 (1.78%)

ISRG

Intuitive Surgical

$536.44

13.25 (2.53%)

AA

Alcoa

$23.42

0.27 (1.17%)

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MGM

MGM Resorts

$28.75

-0.095 (-0.33%)

, MGP

MGM Growth

$30.00

-0.06 (-0.20%)

18:50
07/18/19
07/18
18:50
07/18/19
18:50
Periodicals
MGM said to consider sale-leaseback of Bellagio, MGM Grand, Bloomberg says »

The report states the…

MGM

MGM Resorts

$28.75

-0.095 (-0.33%)

MGP

MGM Growth

$30.00

-0.06 (-0.20%)

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AAL

American Airlines

$33.75

0.5 (1.50%)

, UAL

United Continental

$95.27

0.44 (0.46%)

18:49
07/18/19
07/18
18:49
07/18/19
18:49
Periodicals
POTUS meets with U.S. airlines over Qatar subsidy accusations, Reuters says »

U.S. President Donald…

AAL

American Airlines

$33.75

0.5 (1.50%)

UAL

United Continental

$95.27

0.44 (0.46%)

JBLU

JetBlue

$19.23

0.14 (0.73%)

FDX

FedEx

$165.39

0.375 (0.23%)

AAWW

Atlas Air

$42.58

0.79 (1.89%)

BA

Boeing

$361.17

-8.28 (-2.24%)

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NUE

Nucor

$54.68

-0.03 (-0.05%)

18:44
07/18/19
07/18
18:44
07/18/19
18:44
Hot Stocks
Nucor CEO: We are very pleased with the results from the tariffs »

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NABZY

National Australia Bank

$0.00

(0.00%)

18:30
07/18/19
07/18
18:30
07/18/19
18:30
Hot Stocks
National Australia Bank names Ross McEwan as new CEO »

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BAC

Bank of America

$29.48

0.3 (1.03%)

18:22
07/18/19
07/18
18:22
07/18/19
18:22
Hot Stocks
Bank of America CEO: Millennials are a huge customer base for us »

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TAP

Molson Coors

$54.37

0.08 (0.15%)

18:06
07/18/19
07/18
18:06
07/18/19
18:06
Hot Stocks
Molson Coors raises quarterly dividend to 57c from 41c per share »

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  • 31

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MSFT

Microsoft

$136.29

0.06 (0.04%)

18:04
07/18/19
07/18
18:04
07/18/19
18:04
Hot Stocks
Breaking Hot Stocks news story on Microsoft »

Microsoft up over 2%…

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BAS

Basic Energy

$1.81

-0.1 (-5.24%)

18:02
07/18/19
07/18
18:02
07/18/19
18:02
Hot Stocks
Basic Energy announces record setting lateral completion in Permian Basin »

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MSFT

Microsoft

$136.29

0.06 (0.04%)

18:02
07/18/19
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18:02
Hot Stocks
Microsoft CFO continues to expect double digit revenue growth in FY20 »

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QTRH

Quarterhill

$1.23

(0.00%)

18:02
07/18/19
07/18
18:02
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18:02
Hot Stocks
WiLAN unit acquires patent portfolio from Vidiator »

Wi-LAN announced that…

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MSFT

Microsoft

$136.29

0.06 (0.04%)

18:00
07/18/19
07/18
18:00
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18:00
Earnings
Microsoft sees total Q1 revenue at implied $31.7B-$32.4B, consensus $32.0B »

By segment: Sees Q1…

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RRGB

Red Robin

$30.58

0.32 (1.06%)

18:00
07/18/19
07/18
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18:00
Hot Stocks
Red Robin up 17% after confirming $40.00 per share offer from Vintage Capital »

In after-hours trading,…

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T

AT&T

$33.09

-0.17 (-0.51%)

17:54
07/18/19
07/18
17:54
07/18/19
17:54
Periodicals
AT&T mulls sale of Puerto Rican business to pay down debt, Bloomberg says »

AT&T, which is eyeing…

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RRGB

Red Robin

$30.58

0.32 (1.06%)

17:53
07/18/19
07/18
17:53
07/18/19
17:53
Hot Stocks
Red Robin confirms $40.00 per share cash buyout proposal from Vintage Capital »

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MSFT

Microsoft

$136.29

0.06 (0.04%)

17:50
07/18/19
07/18
17:50
07/18/19
17:50
Hot Stocks
Microsoft CFO: Q4 another quarter of double-digit top and bottom line growth »

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HBIO

Harvard Bioscience

$1.78

0.03 (1.71%)

17:46
07/18/19
07/18
17:46
07/18/19
17:46
Hot Stocks
Harvard Bioscience names Michael Rossi CFO »

Harvard Bioscience has…

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MSFT

Microsoft

$136.29

0.06 (0.04%)

17:43
07/18/19
07/18
17:43
07/18/19
17:43
Hot Stocks
Microsoft CEO seeing growing momentum across every layer of its stack »

Says LinkedIn saw record…

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ISRG

Intuitive Surgical

$536.44

13.25 (2.53%)

17:38
07/18/19
07/18
17:38
07/18/19
17:38
Hot Stocks
Intuitive Surgical falls after Q2 report, despite earnings beat »

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GLD

SPDR Gold Shares

$136.44

1.85 (1.37%)

17:33
07/18/19
07/18
17:33
07/18/19
17:33
Hot Stocks
SPDR Gold Shares holdings rise to 814.62MT from 803.18MT »

This is the highest level…

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WAL

Western Alliance

$44.45

0.74 (1.69%)

17:29
07/18/19
07/18
17:29
07/18/19
17:29
Earnings
Western Alliance reports Q2 EPS 1.19, consensus $1.16 »

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