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QCOM

Qualcomm

$58.05

0.86 (1.50%)

, AAPL

Apple

$199.62

0.41 (0.21%)

15:01
04/16/19
04/16
15:01
04/16/19
15:01

Qualcomm jumps after report of settlement agreement with Apple

Shares of Qualcomm (QCOM) have jumped after CNBC's David Faber reported on air that the company has reached a settlement agreement with Apple (AAPL) over the companies' long-running royalty fight. The deal will see both parties drop all litigation and involves the signing of a new agreement along with "some payment" from Apple to Qualcomm, according to Faber, citing sources. Following the report, Qualcomm shares are up over 10% to $63.15 while Apple shares have moved off their earlier highs and are up fractionally to $199.91.

QCOM

Qualcomm

$58.05

0.86 (1.50%)

AAPL

Apple

$199.62

0.41 (0.21%)

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    Jun

QCOM Qualcomm
$58.05

0.86 (1.50%)

03/27/19
WELS
03/27/19
NO CHANGE
WELS
Market Perform
Wells Fargo sees Qualcomm action against Apple as further posturing for leverage
Wells Fargo analyst Aaron Rakers notes that shares of Apple (AAPL) were under pressure following the U.S. International Trade Commission issuing a final initial determination related to Qualcomm's (QCOM) patent claims against Apple. This is related to Apple's use of Intel (INTC) modems in some iPhone models, replacing Qualcomm, he notes. The analyst continues to view Qualcomm's actions against Apple as further posturing for leverage as it relates to the companies' separate license royalty dispute. Rakers would expect Apple to appeal the ruling. He reiterates a Market Perform rating on Apple's shares.
03/27/19
MSCO
03/27/19
NO CHANGE
MSCO
Morgan Stanley still unsure who will have upper hand in Qualcomm, Apple fight
Morgan Stanley analyst James Faucette called yesterday a "modestly good one" for Qualcomm (QCOM) in terms of its legal fight with Apple (AAPL), though he calls the final ruling on ITC case #1 for patent '490 "confusing." Also "somewhat confusingly," the ITC issued its preliminary findings in a separate case, which he calls case #2. That ruling was an "unequivocal positive" for Qualcomm, though its magnitude is uncertain. Following the mixed developments in the ITC cases, Faucette said he still doesn't know who will have the upper hand, though he expects these and other upcoming rulings will ultimately push Qualcomm and Apple to a reconciliation. However, unless there is strong demand for 5G phones during 2019, Apple may be willing to bide its time and not seek a full resolution during this year, Faucette concluded.
03/27/19
03/27/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Qualcomm (QCOM) initiated with a Neutral at JPMorgan. 2. Occidental Petroleum (OXY) initiated with a Perform at Oppenheimer. 3. Boeing (BA) resumed with a Buy at Citi. 4. Square (SQ) initiated with an Outperform at Macquarie. 5. Frontdoor (FTDR) initiated with an Outperform at William Blair. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/04/19
ARGS
04/04/19
NO CHANGE
Target $85
ARGS
Buy
Qualcomm CFO exit immaterial, says Argus
Argus analyst Jim Kelleher is keeping his Buy rating and $85 price target on Qualcomm (QCOM), saying the latest announcement that its CFO George Davis is stepping down to join Intel (INTC) is immaterial and a "side show". The analyst sees the real "main event" risk with the company's upcoming trial this month in a dispute with Apple (AAPL), which has alleged that Qualcomm's licensing model is illegal. Kelleher contends however that Qualcomm's licensing model has "repeatedly been validated" and the company has "withstood multiple legal challenges over the past two decades".
AAPL Apple
$199.62

0.41 (0.21%)

04/11/19
UBSW
04/11/19
NO CHANGE
Target $70
UBSW
Buy
Lumentum price target raised to $70 from $53 at UBS
UBS analyst Tejas Venkatesh raised his price target on Lumentum (LITE) to $70 and kept his Buy rating, saying he remains positive on the stock to produce upside to consensus estimates. The analyst cites the company likely maintaining a dominant market share with Apple (AAPL) as its unit count improves in FY20 on another iPhone cycle, leaving the adverse "inventory situation" behind. Venkatesh also anticipates "strong ROADM growth due to Lumentum's technical superiority" and benefits from China correcting its "historical underinvestments."
04/12/19
NWST
04/12/19
DOWNGRADE
NWST
Sell
Apple downgraded to Sell at New Street
04/12/19
MSCO
04/12/19
NO CHANGE
Target $220
MSCO
Overweight
Apple installed base share grew in China again in March, says Morgan Stanley
Data from Jiguang indicate that Apple's share of the Chinese smartphone installed base grew about 300 basis points year-over-year in March, according to Morgan Stanley analyst Katy Huberty, who notes that this was the third consecutive month of installed base share gain in China for Apple. March was also the strongest month of year-over-year installed base share gains in China in 15 months, noted the analyst, who has an upward bias to her below-consensus iPhone forecast for the March-end quarter. Huberty keeps an Overweight rating on Apple with a $220 price target.
04/12/19
04/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Sell at New Street. 2. Chesapeake (CHK) downgraded to Sell from Neutral at Goldman Sachs. 3. Grainger (GWW) downgraded to Underperform at Gordon Haskett with analyst John Inch citing his view of the risk that Grainger's U.S. sales significantly decelerate, driven by his analysis of web data. 4. LogMeln (LOGM) downgraded to Underweight from Overweight at Barclays with analyst Raimo Lenschow saying the core LogMeln offering around the Gravity platform is at the end of its growth trajectory, as the impact of pricing is weakening. 5. Crown Castle (CCI) downgraded to Neutral from Buy at Guggenheim with analyst Robert Gutman saying secular strength is now reflected in valuation and raised his price target to $127 from $120. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

BA

Boeing

$375.02

-5 (-1.32%)

, TSLA

Tesla

$262.90

-10.35 (-3.79%)

16:38
04/22/19
04/22
16:38
04/22/19
16:38
On The Fly
Fly Intel: Wall Street's top stories for Monday »

The major averages were…

BA

Boeing

$375.02

-5 (-1.32%)

TSLA

Tesla

$262.90

-10.35 (-3.79%)

KMB

Kimberly-Clark

$130.24

6.76 (5.47%)

GWW

Grainger

$291.05

-17.215 (-5.58%)

SSNLF

Samsung

$0.00

(0.00%)

KEYW

KEYW

$11.16

3.31 (42.17%)

JEC

Jacobs Engineering

$78.69

1.755 (2.28%)

AKRX

Akorn

$2.98

0.21 (7.58%)

EAF

GrafTech

$12.35

-1.58 (-11.34%)

ISRG

Intuitive Surgical

$490.70

-37.34 (-7.07%)

03/08/13
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03/06/13
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03/06/13
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    May

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TSLA

Tesla

$262.90

-10.35 (-3.79%)

16:38
04/22/19
04/22
16:38
04/22/19
16:38
Hot Stocks
Tesla CEO sees Model S/3/X production of 10,000/wk in 2019 »

Sees reaching Model S,…

03/08/13
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  • 22

    Apr

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    Apr

LENS

Presbia

$0.56

-0.0034 (-0.61%)

16:38
04/22/19
04/22
16:38
04/22/19
16:38
Hot Stocks
Breaking Hot Stocks news story on Presbia »

Presbia trading halted,…

03/08/13
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03/08/13
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03/06/13
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ALDR

Alder Biopharmaceuticals

$12.77

0.1 (0.79%)

16:36
04/22/19
04/22
16:36
04/22/19
16:36
Hot Stocks
Alder Biopharmaceuticals: FDA accepts for review the BLA for eptinezumab »

Alder BioPharmaceuticals…

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  • 04

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GPC

Genuine Parts

$103.62

-1.84 (-1.74%)

16:33
04/22/19
04/22
16:33
04/22/19
16:33
Hot Stocks
Genuine Parts CEO Paul Donahue to also serve as board chairman »

Genuine Parts announced…

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  • 22

    Apr

TSLA

Tesla

$262.90

-10.35 (-3.79%)

16:32
04/22/19
04/22
16:32
04/22/19
16:32
Hot Stocks
Tesla says Autopilot observes driver, pedestrian tendencies »

Says Autopilot uses…

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HSTM

HealthStream

$27.23

0.11 (0.41%)

16:32
04/22/19
04/22
16:32
04/22/19
16:32
Earnings
HealthStream backs FY19 revenue view $251M-$258M, consensus $255.84M »

Raises FY19 CapEx view to…

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HSTM

HealthStream

$27.23

0.11 (0.41%)

16:31
04/22/19
04/22
16:31
04/22/19
16:31
Earnings
HealthStream reports Q1 EPS 15c, consensus 7c »

Reports Q1 revenue…

03/08/13
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  • 23

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RCKT

Rocket Pharmaceuticals

$17.78

0.91 (5.39%)

16:31
04/22/19
04/22
16:31
04/22/19
16:31
Initiation
Rocket Pharmaceuticals initiated  »

Rocket Pharmaceuticals…

03/08/13
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03/08/13
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03/06/13
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GES

Guess

$16.66

-0.41 (-2.40%)

16:30
04/22/19
04/22
16:30
04/22/19
16:30
Hot Stocks
Breaking Hot Stocks news story on Guess »

Guess down 3.9% at $16…

03/08/13
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03/06/13
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03/06/13
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16:30
04/22/19
04/22
16:30
04/22/19
16:30
Options
Preliminary option volume of 15.3M today »

Preliminary option volume…

GRTS

Gritstone Oncology

$14.57

0.86 (6.27%)

16:29
04/22/19
04/22
16:29
04/22/19
16:29
Syndicate
Gritstone Oncology files to sell 6.5M shares of common stock »

Goldman Sachs & Co.,…

03/08/13
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ACC

American Campus

$46.47

-0.87 (-1.84%)

16:28
04/22/19
04/22
16:28
04/22/19
16:28
Earnings
American Campus reports Q1 FFO 69c, consensus 65c »

Reports Q1 revenue…

03/08/13
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GES

Guess

$16.66

-0.41 (-2.40%)

16:26
04/22/19
04/22
16:26
04/22/19
16:26
Hot Stocks
Guess to initiate $150M stock buyback »

Guess intends to initiate…

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GES

Guess

$16.66

-0.41 (-2.40%)

16:26
04/22/19
04/22
16:26
04/22/19
16:26
Syndicate
Guess to offer $250M in convertible senior notes »

The company states the…

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RHE

Regional Health Properties

$2.26

1.17 (107.34%)

16:26
04/22/19
04/22
16:26
04/22/19
16:26
Hot Stocks
Regional Health Properties not in compliance with NYSE listing rules »

Regional Health…

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BBL

BHP Billiton plc

$48.94

0.225 (0.46%)

16:24
04/22/19
04/22
16:24
04/22/19
16:24
Downgrade
BHP Billiton plc rating change  »

BHP Billiton plc…

03/08/13
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O

Realty Income

$67.89

-0.66 (-0.96%)

16:23
04/22/19
04/22
16:23
04/22/19
16:23
Earnings
Realty Income raises FY19 AFFO view to $3.28-$3.33 from $3.25-$3.31 »

Consensus is for FY19 FFO…

03/08/13
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GES

Guess

$16.66

-0.41 (-2.40%)

16:23
04/22/19
04/22
16:23
04/22/19
16:23
Hot Stocks
Guess cuts dividend to 11.25c per share from 22.5c »

The company states that…

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BHP

BHP Group

$55.14

0.19 (0.35%)

16:23
04/22/19
04/22
16:23
04/22/19
16:23
Downgrade
BHP Group rating change  »

BHP Group downgraded to…

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AEP

American Electric

$82.92

-0.04 (-0.05%)

, SRE

Sempra Energy

$125.35

-2.07 (-1.62%)

16:22
04/22/19
04/22
16:22
04/22/19
16:22
Hot Stocks
American Electric: Purchase of wind assets from Sempra 'immediately accretive' »

American Electric Power…

AEP

American Electric

$82.92

-0.04 (-0.05%)

SRE

Sempra Energy

$125.35

-2.07 (-1.62%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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O

Realty Income

$67.89

-0.66 (-0.96%)

16:21
04/22/19
04/22
16:21
04/22/19
16:21
Hot Stocks
Realty Income acquires twelve properties in UK for GBP429M and raises FY19 FFO »

Realty Income has signed…

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  • 02

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
04/22/19
04/22
16:20
04/22/19
16:20
Options
Closing CBOE SPX and VIX Index summary for April 22nd »

The CBOE Volatility Index…

03/08/13
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VCYT

Veracyte

$23.04

0.02 (0.09%)

16:19
04/22/19
04/22
16:19
04/22/19
16:19
Hot Stocks
Veracyte gets regulatory authorization to offer Envisia Genomic Classifier in NY »

Veracyte announced that…

03/08/13
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03/06/13
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  • 24

    Apr

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    Jun

CMRE

Costamare

$5.65

-0.09 (-1.57%)

16:19
04/22/19
04/22
16:19
04/22/19
16:19
Earnings
Costamare reports Q1 adj. EPS 12c, consensus 9c »

Reports Q1 revenue $113M,…

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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