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QCOM

Qualcomm

$58.05

0.86 (1.50%)

, AAPL

Apple

$199.52

0.31 (0.16%)

15:07
04/16/19
04/16
15:07
04/16/19
15:07

Qualcomm, Apple announce new agreements, drop all litigation

Qualcomm (QCOM) and Apple (AAPL) announced an agreement to dismiss all litigation between the two companies worldwide. The settlement includes a payment from Apple to Qualcomm. The companies also have reached a six-year license agreement, effective as of April 1, including a two-year option to extend, and a multiyear chipset supply agreement, the companies announced.

QCOM

Qualcomm

$58.05

0.86 (1.50%)

AAPL

Apple

$199.52

0.31 (0.16%)

  • 30

    Apr

  • 01

    May

  • 03

    Jun

QCOM Qualcomm
$58.05

0.86 (1.50%)

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".
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.
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
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.
AAPL Apple
$199.52

0.31 (0.16%)

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.
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
NWST
04/12/19
DOWNGRADE
NWST
Sell
Apple downgraded to Sell at New Street
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."

TODAY'S FREE FLY STORIES

MTSI

Macom

$15.86

-0.33 (-2.04%)

21:33
04/24/19
04/24
21:33
04/24/19
21:33
Downgrade
Macom rating change  »

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GRTS

Gritstone Oncology

$12.32

-0.63 (-4.86%)

20:58
04/24/19
04/24
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20:58
Syndicate
Gritstone Oncology 6.5M share Secondary priced at $11.50 »

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MTSI

Macom

$15.86

-0.33 (-2.04%)

20:56
04/24/19
04/24
20:56
04/24/19
20:56
Downgrade
Macom rating change at Jefferies »

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  • 07

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CBS

CBS

$51.34

-0.01 (-0.02%)

, VIAB

Viacom

$29.69

0.42 (1.43%)

20:39
04/24/19
04/24
20:39
04/24/19
20:39
Periodicals
CBS board has restarted talks about a bid for Viacom, NBC reports »

The board members of CBS…

CBS

CBS

$51.34

-0.01 (-0.02%)

VIAB

Viacom

$29.69

0.42 (1.43%)

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INTC

Intel

$58.72

-0.06 (-0.10%)

20:34
04/24/19
04/24
20:34
04/24/19
20:34
Periodicals
Intel lays off dozens in autonomous vehicle division, The Information reports »

Several dozen workers…

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CMCSA

Comcast

$41.87

-0.11 (-0.26%)

, CMCSK

Comcast

$0.00

(0.00%)

20:25
04/24/19
04/24
20:25
04/24/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

CMCSA

Comcast

$41.87

-0.11 (-0.26%)

CMCSK

Comcast

$0.00

(0.00%)

MMM

3M

$219.24

-0.28 (-0.13%)

ABBV

AbbVie

$78.71

0.06 (0.08%)

MO

Altria Group

$54.70

-0.14 (-0.26%)

UPS

UPS

$114.39

0.79 (0.70%)

BMY

Bristol-Myers

$44.63

-0.69 (-1.52%)

RTN

Raytheon

$185.44

-2.08 (-1.11%)

ITW

Illinois Tool Works

$156.78

-1.14 (-0.72%)

BAX

Baxter

$76.31

-0.02 (-0.03%)

VLO

Valero

$87.75

-2.53 (-2.80%)

LUV

Southwest

$52.92

0.11 (0.21%)

HSY

Hershey

$117.01

0.16 (0.14%)

ROK

Rockwell Automation

$188.97

-0.405 (-0.21%)

HES

Hess Corp.

$65.79

-1.67 (-2.48%)

FCX

Freeport McMoRan

$13.57

0.115 (0.85%)

IP

International Paper

$44.30

-0.37 (-0.83%)

DHI

D.R. Horton

$46.67

0.275 (0.59%)

TSCO

Tractor Supply

$104.09

0.88 (0.85%)

MAS

Masco

$39.98

-0.02 (-0.05%)

IVZ

Invesco

$21.53

-0.09 (-0.42%)

CLF

Cleveland-Cliffs

$9.52

0.025 (0.26%)

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PBR

Petrobras

$15.34

-0.45 (-2.85%)

20:15
04/24/19
04/24
20:15
04/24/19
20:15
Periodicals
Breaking Periodicals news story on Petrobras »

Petrobras to dismiss…

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BTI

British American Tobacco

$39.33

-0.45 (-1.13%)

19:28
04/24/19
04/24
19:28
04/24/19
19:28
Periodicals
BAT faces legal action over giving workers free cigarettes, Bloomberg says »

Lawyers are weighing…

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POR

Portland General Electric

$51.20

0.61 (1.21%)

19:22
04/24/19
04/24
19:22
04/24/19
19:22
Hot Stocks
Portland General Electric raises quarterly dividend 6.3% to 38.5c per share »

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WPG

Washington Prime

$4.55

-0.08 (-1.73%)

19:14
04/24/19
04/24
19:14
04/24/19
19:14
Earnings
Washington Prime reports Q1 FFO 31c, consensus 29c »

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AVH

Avianca

$3.91

-0.09 (-2.25%)

19:14
04/24/19
04/24
19:14
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19:14
Hot Stocks
Avianca CEO Rincon to retire effective April 30 »

Avianca Holdings…

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SAM

Boston Beer

$276.71

-1.24 (-0.45%)

, AXTI

AXT Inc.

$4.74

0.09 (1.94%)

19:03
04/24/19
04/24
19:03
04/24/19
19:03
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: …

SAM

Boston Beer

$276.71

-1.24 (-0.45%)

AXTI

AXT Inc.

$4.74

0.09 (1.94%)

FBHS

Fortune Brands

$49.89

0.53 (1.07%)

BCOV

Brightcove

$8.72

0.12 (1.40%)

FB

Facebook

$182.64

-1.13 (-0.61%)

NOW

ServiceNow

$242.41

-1.085 (-0.45%)

MSFT

Microsoft

$125.00

-0.5 (-0.40%)

LRCX

Lam Research

$195.40

0.56 (0.29%)

TILE

Interface

$17.11

0.22 (1.30%)

CHDN

Churchill Downs

$92.16

2.66 (2.97%)

KN

Knowles

$18.48

0.05 (0.27%)

CMG

Chipotle

$710.00

7.61 (1.08%)

TSLA

Tesla

$258.70

-5.15 (-1.95%)

XLNX

Xilinx

$139.79

2.66 (1.94%)

PTC

PTC

$101.94

1.12 (1.11%)

NTGR

Netgear

$35.03

-0.18 (-0.51%)

SAVE

Spirit Airlines

$58.30

0.82 (1.43%)

ORLY

O'Reilly Automotive

$396.80

1.14 (0.29%)

MMLP

Martin Midstream Partners

$9.84

-0.285 (-2.82%)

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PBFX

PBF Logistics

$21.36

-0.37 (-1.70%)

, PBF

PBF Energy

$33.09

-0.805 (-2.38%)

19:02
04/24/19
04/24
19:02
04/24/19
19:02
Earnings
PBF Logistics reports preliminary Q1 revenue $78.3M-$79.3M, consensus $78.17M »

Reports preliminary Q1…

PBFX

PBF Logistics

$21.36

-0.37 (-1.70%)

PBF

PBF Energy

$33.09

-0.805 (-2.38%)

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PBFX

PBF Logistics

$21.36

-0.37 (-1.70%)

, PBF

PBF Energy

$33.09

-0.805 (-2.38%)

19:01
04/24/19
04/24
19:01
04/24/19
19:01
Hot Stocks
PBF Logistics acquires remaining 50% interest in Torrance Valley Pipeline Compan »

PBF Logistics (PBFX)…

PBFX

PBF Logistics

$21.36

-0.37 (-1.70%)

PBF

PBF Energy

$33.09

-0.805 (-2.38%)

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NOW

ServiceNow

$242.41

-1.085 (-0.45%)

18:58
04/24/19
04/24
18:58
04/24/19
18:58
Hot Stocks
ServiceNow CEO: We are the IT system of record »

In an interview on…

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  • 24

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PBFX

PBF Logistics

$21.36

-0.37 (-1.70%)

18:57
04/24/19
04/24
18:57
04/24/19
18:57
Syndicate
PBF Logistics announces registered direct offering of 6.59M common units »

PBF Logistics announced…

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  • 01

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NFBK

Northfield Bancorp

$14.70

0.09 (0.62%)

18:56
04/24/19
04/24
18:56
04/24/19
18:56
Hot Stocks
Northfield Bancorp raises quarterly dividend to 11c from 10c per share »

The dividend is payable…

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NFBK

Northfield Bancorp

$14.70

0.09 (0.62%)

18:55
04/24/19
04/24
18:55
04/24/19
18:55
Earnings
Northfield Bancorp reports Q1 EPS 19c, consensus 19c »

Reports Q1 NII $27.3M vs.…

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  • 13

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ZUO

Zuora

$20.03

0.04 (0.20%)

18:42
04/24/19
04/24
18:42
04/24/19
18:42
Hot Stocks
Zuora CEO: Subscription based business models are on the rise »

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  • 10

    Jun

TSLA

Tesla

$258.70

-5.15 (-1.95%)

, MXWL

Maxwell

$4.28

-0.095 (-2.17%)

18:31
04/24/19
04/24
18:31
04/24/19
18:31
Hot Stocks
Tesla says 50% of deliveries occurred in last 10 days of quarter »

Says: Overseas volume…

TSLA

Tesla

$258.70

-5.15 (-1.95%)

MXWL

Maxwell

$4.28

-0.095 (-2.17%)

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  • 24

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OMAB

OMA Airports

$48.34

-0.25 (-0.51%)

18:18
04/24/19
04/24
18:18
04/24/19
18:18
Earnings
OMA Airports reports Q1 EPS 67c, two estimates 73c »

Reports Q1 traffic up…

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  • 25

    Apr

HMC

Honda

$27.70

-0.8 (-2.81%)

18:07
04/24/19
04/24
18:07
04/24/19
18:07
Hot Stocks
Honda to recall roughly 94,000 cars in U.S. over faulty timing belts »

Honda said it will…

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  • 24

    Apr

NTDOY

Nintendo

$0.00

(0.00%)

18:05
04/24/19
04/24
18:05
04/24/19
18:05
Hot Stocks
Nintendo says 'Super Mario Maker 2' coming to Switch June 28 »

Nintendo announced that…

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  • 08

    Jun

ARGO

Argo Group

$74.46

0.515 (0.70%)

18:04
04/24/19
04/24
18:04
04/24/19
18:04
Hot Stocks
Argo Group says Voce making 'false and misleading' statements about company »

Argo Group International…

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  • 11

    Jun

SJW

SJW Corp.

$61.56

0.3 (0.49%)

18:03
04/24/19
04/24
18:03
04/24/19
18:03
Earnings
SJW Corp. reports Q1 EPS 21c with items, consensus 14c »

Reports Q1 revenue 77.7M$…

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