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QCOM

Qualcomm

$56.00

-1.1 (-1.93%)

, AAPL

Apple

$168.37

-6.37 (-3.65%)

09:06
12/10/18
12/10
09:06
12/10/18
09:06

China court grants Qualcomm two preliminary injunctions against Apple

Qualcomm (QCOM) announced that the Fuzhou Intermediate People's Court in China has granted the company's request for two preliminary injunctions against four Chinese subsidiaries of Apple (AAPL), ordering them to immediately cease infringing upon two Qualcomm patents through the unlicensed importation, sale and offers for sale in China of the iPhone 6S, iPhone 6S Plus, iPhone 7, iPhone 7 Plus, iPhone 8, iPhone 8 Plus and iPhone X. The two patents were previously found to be valid by SIPO, the Chinese patent office. "We deeply value our relationships with customers, rarely resorting to the courts for assistance, but we also have an abiding belief in the need to protect intellectual property rights," said Don Rosenberg, executive vice president and general counsel, Qualcomm. "Apple continues to benefit from our intellectual property while refusing to compensate us. These Court orders are further confirmation of the strength of Qualcomm's vast patent portfolio." The patents enable consumers to adjust and reformat the size and appearance of photographs, and to manage applications using a touch screen when viewing, navigating and dismissing applications on their phones, the company said in today's statement. Additional actions seeking similar relief for Apple's infringement of other Qualcomm patents are pending in China and other jurisdictions around the world, it added. Shares of Qualcomm are up 3%, or $1.71, to $57.70 in premarket trading while Apple is down 2%, or $2.67, to $165.82.

QCOM

Qualcomm

$56.00

-1.1 (-1.93%)

AAPL

Apple

$168.37

-6.37 (-3.65%)

QCOM Qualcomm
$56.00

-1.1 (-1.93%)

12/10/18
KEYB
12/10/18
DOWNGRADE
KEYB
Sector Weight
Skyworks downgraded to Sector Weight at KeyBanc on weakening smartphone demand
As previously reported, KeyBanc analyst Weston Twigg downgraded Skyworks (SWKS) to Sector Weight from Overweight given further weakening Apple (AAPL) iPhone demand trends, weaker than expected China smartphone demand, indications Qualcomm (QCOM) is finally gaining market share on RF360 amid transition to 5G in 2H19, and modest share lost in China smartphones to Qorvo (QRVO) this year as a result of RF Fusion phase 6 and signs of supply constraints at Skyworks. While the analyst believes Skyworks remains well positioned for 5G longer term and sees modest downside risk with the stock trading near trough valuation, Twigg struggles to see positive catalysts given the disappointing iPhone cycle and weakening demand environment for China smartphones.
12/10/18
12/10/18
DOWNGRADE

Sector Weight
Qorvo downgraded to Sector Weight at KeyBanc after demand checks
As previously reported, KeyBanc analyst Weston Twigg downgraded Qorvo (QRVO) to Sector Weight from Overweight given further weakening Apple (AAPL) iPhone demand trends, weaker than expected China smartphone demand, and indications Qualcomm (QCOM) is finally gaining market share on RF360 amid transition to 5G in 2H19. While the analyst believes Qorvo remains well positioned for 5G longer term and sees modest downside risk with the stock trading near trough valuation, Twigg struggles to see positive catalysts given the disappointing iPhone cycle and weakening demand environment for China smartphones. Overall, his quarterly Asia supply chain findings and demand checks left him incrementally more cautious on the semiconductor space.
12/06/18
SUSQ
12/06/18
INITIATION
Target $90
SUSQ
Neutral
NXP Semiconductors initiated with a Neutral at Susquehanna
Susquehanna analyst Chris Roland initiated NXP Semiconductors (NXPI) with a Neutral rating and a price target of $90. The analyst expects the company to benefit from its "substantial auto exposure" but also warns that trade tensions, soft auto sales, and "contracting industry lead times" warrant a near-term pause. Roland adds that once the "Qualcomm (QCOM) hangover" subsides, NXP Semiconductors revenue will re-accelerate as the company refocuses on its core business. The analyst is further positive on the company's "diversification away from Apple (AAPL) and handsets, and focus on new growth opportunities including high-power RF's in 5G infrastructure".
12/03/18
MSCO
12/03/18
NO CHANGE
Target $100
MSCO
Equal Weight
Morgan Stanley says 'a lot has changed' since Qualcomm first bid to buy NXP
After the White House issued a statement that noted Chinese President Xi said he is open to approving Qualcomm's (QCOM) previous bid to buy NXP Semiconductors (NXPI) if it were presented to him again, Morgan Stanley analyst Craig Hettenbach noted that "a lot has changed" since Qualcomm's initial offer. The semiconductor industry was in the midst of an upcyle at that time, but it is now in the midst of a correction that will likely mean downward estimate revision risk in 2019, Hettenbach said. If NXP were presented with another offer, he thinks the board could be open to the idea, but would likely require greater certainty of approval before committing given that the drawn out approval process was a material overhang last time. Hettenbach maintains an Equal Weight rating on NXP shares with a $100 price target.
AAPL Apple
$168.37

-6.37 (-3.65%)

12/10/18
KEYB
12/10/18
NO CHANGE
KEYB
Sector Weight
Apple XR softness suggests troubles in 'pricing land,' says KeyBanc
KeyBanc analyst Andy Hargreaves says supply and demand checks suggest soft iPhone XR demand and a much larger tendency to trade down to older models than he expected. This prompts a shift to his mix assumptions and, more importantly, suggests Apple is hitting the limits of pricing power for a large portion of its user base, he contends. The analyst believes that this is likely to present a challenge to growth over a multi-year time frame that prevents him from a more positive opinion of the shares. Hargreaves reiterates a Sector Weight rating on the shares.
12/07/18
OTRG
12/07/18
NO CHANGE
OTRG
Phone buyer sources point to cuts in Apple iPhone XR orders, says OTR Global
OTR Global said its checks indicate that smartphone buyers and managers at network operators, retailers and distributors in China, Europe and India have mostly reduced their 1Q19 orders for Apple's iPhone XR as sell-through in Q4 has fallen below expectations. 13 of 15 Asian sources reported oversupply for iPhone XR and 4 of 7 Chinese sources noted reduced iPhone XR retail prices, OTR added.

TODAY'S FREE FLY STORIES

WBA

Walgreens Boots Alliance

$62.35

0.09 (0.14%)

10:46
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QSR

Restaurant Brands

$67.39

-0.15 (-0.22%)

10:45
11/12/19
11/12
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Options
Restaurant Brands call volume above normal and directionally bullish »

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General news
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F

Ford

$9.11

0.03 (0.33%)

, GM

General Motors

$38.89

0.18 (0.46%)

10:38
11/12/19
11/12
10:38
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10:38
Periodicals
Trump expected to extend deadline for EU car tariffs, Bloomberg says »

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F

Ford

$9.11

0.03 (0.33%)

GM

General Motors

$38.89

0.18 (0.46%)

HMC

Honda

$29.35

0.15 (0.51%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$145.00

-0.07 (-0.05%)

TSLA

Tesla

$348.78

3.71 (1.08%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$16.21

0.1 (0.62%)

VWAGY

Volkswagen

$0.00

(0.00%)

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KSS

Kohl's

$56.48

-0.56 (-0.98%)

10:35
11/12/19
11/12
10:35
11/12/19
10:35
Options
Kohl's put volume heavy and directionally bearish »

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10:35
11/12/19
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10:35
General news
FX Action: USD-JPY »

FX Action: USD-JPY…

DIS

Disney

$139.04

2.3 (1.68%)

10:31
11/12/19
11/12
10:31
11/12/19
10:31
Hot Stocks
Disney says Disney+ 'exceeded our high expectations,' working on glitches »

Disney+ Help tweeted,…

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KHC

Kraft Heinz

$32.77

0.01 (0.03%)

10:25
11/12/19
11/12
10:25
11/12/19
10:25
Options
Kraft Heinz call volume above normal and directionally bullish »

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RHHBY

Roche

$0.00

(0.00%)

10:25
11/12/19
11/12
10:25
11/12/19
10:25
Conference/Events
Roche to hold a conference call »

Conference call to…

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REPL

Replimune Group

$17.24

0.11 (0.64%)

10:25
11/12/19
11/12
10:25
11/12/19
10:25
Conference/Events
Replimune Group participates in a conference call with JPMorgan »

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10:25
11/12/19
11/12
10:25
11/12/19
10:25
Conference/Events
UBS technology analysts to hold an analyst/industry conference call »

Technology Analysts…

LH

LabCorp

$165.45

-0.29 (-0.17%)

10:23
11/12/19
11/12
10:23
11/12/19
10:23
Syndicate
Breaking Syndicate news story on LabCorp »

LabCorp files automatic…

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CRWD

Crowdstrike

$47.57

1.39 (3.01%)

, TEVA

Teva

$9.36

0.03 (0.32%)

10:21
11/12/19
11/12
10:21
11/12/19
10:21
On The Fly
JPMorgan gets less bearish on Xerox among today's top calls on Wall Street »

Check out today's top…

CRWD

Crowdstrike

$47.57

1.39 (3.01%)

TEVA

Teva

$9.36

0.03 (0.32%)

AMRX

Amneal Pharmaceuticals

$2.69

0.05 (1.89%)

XRX

Xerox

$38.05

-0.28 (-0.73%)

HPQ

HP Inc.

$19.33

-0.31 (-1.58%)

AMAT

Applied Materials

$56.81

0.21 (0.37%)

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    Dec

UCBJY

UCB

$0.00

(0.00%)

10:20
11/12/19
11/12
10:20
11/12/19
10:20
Conference/Events
UCB participates in a conference call with JPMorgan »

European Pharmaceuticals…

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AMRN

Amarin

$19.92

3.02 (17.87%)

10:18
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On The Fly
Analysts see good odds of Amarin's Vascepa label expansion after docs posted »

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  • 14

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
11/12/19
11/12
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10:17
Technical Analysis
NASDAQ market internals summary »

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ARLO

Arlo Technologies

$2.84

0.18 (6.77%)

, CCC

Clarivate Analytics

$17.22

0.13 (0.76%)

10:16
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ARLO

Arlo Technologies

$2.84

0.18 (6.77%)

CCC

Clarivate Analytics

$17.22

0.13 (0.76%)

STOK

Stoke Therapeutics

$30.87

1.04 (3.49%)

BMRN

BioMarin

$75.96

0.72 (0.96%)

BIIB

Biogen

$291.50

-2.41 (-0.82%)

AMGN

Amgen

$223.35

2.66 (1.21%)

CTVA

Corteva

$27.06

0.32 (1.20%)

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CSX

CSX

$72.89

-1.04 (-1.41%)

, ETN

Eaton

$91.78

-0.09 (-0.10%)

10:16
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Initiation
Fly Intel: Top five analyst downgrades »

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CSX

CSX

$72.89

-1.04 (-1.41%)

ETN

Eaton

$91.78

-0.09 (-0.10%)

AMRX

Amneal Pharmaceuticals

$2.71

0.07 (2.65%)

ALB

Albemarle

$67.47

-0.25 (-0.37%)

BOX

Box

$15.93

-0.52 (-3.16%)

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ARGO

Argo Group

$63.82

2.54 (4.14%)

, LYV

Live Nation

$64.79

0.32 (0.50%)

10:16
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Upgrade
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ARGO

Argo Group

$63.82

2.54 (4.14%)

LYV

Live Nation

$64.79

0.32 (0.50%)

RCII

Rent-A-Center

$23.13

0.78 (3.49%)

CRWD

Crowdstrike

$47.25

1.07 (2.32%)

TEVA

Teva

$9.40

0.07 (0.75%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
11/12/19
11/12
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10:16
Technical Analysis
NYSE market internals summary »

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DIS

Disney

$138.17

1.43 (1.05%)

10:15
11/12/19
11/12
10:15
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10:15
Periodicals
Disney tells CNBC streaming service launch exceeds 'high expectations' »

CNBC reported via Twitter…

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S

Sprint

$5.90

-0.01 (-0.17%)

10:15
11/12/19
11/12
10:15
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10:15
Options
Sprint put volume heavy and directionally bearish »

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  • 09

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IDRA

Idera Pharmaceuticals

$2.29

0.06 (2.69%)

10:15
11/12/19
11/12
10:15
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10:15
Conference/Events
Idera Pharmaceuticals participates in a conference call with JPMorgan »

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DIS

Disney

$138.25

1.51 (1.10%)

10:12
11/12/19
11/12
10:12
11/12/19
10:12
Periodicals
Disney working to fix Disney+ issues amid 'incredible response,' TechCrunch says »

Disney+ users have been…

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