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INTC

Intel

$57.38

1.11 (1.97%)

, QCOM

Qualcomm

$61.72

4.53 (7.92%)

15:11
04/16/19
04/16
15:11
04/16/19
15:11

Intel moves lower after Qualcomm announces settlement with Apple

After Qualcomm (QCOM) and Apple (AAPL) announced an agreement to dismiss all litigation between the two companies worldwide, shares of Intel (INTC), which also supplies chips to Apple, have moved off their earlier session highs. At time of writing , Intel is up fractionally to $56.37 while Qualcomm shares are now up by about 17%.

INTC

Intel

$57.38

1.11 (1.97%)

QCOM

Qualcomm

$61.72

4.53 (7.92%)

AAPL

Apple

$198.70

-0.51 (-0.26%)

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INTC Intel
$57.38

1.11 (1.97%)

04/10/19
DADA
04/10/19
NO CHANGE
Target $21
DADA
Buy
FormFactor price target raised to $21 from $18 at DA Davidson
DA Davidson analyst Thomas Diffely raised his price target on FormFactor (FORM) to $21 and kept his Buy rating after meeting with its management at an investor event last week. The analyst says investors were "pleasantly surprised" by the stability of the company's "design driven model" during industry slowdowns, adding that he sees FormFactor's "unique business drivers" being "larger then expected". Diffely further cites a potential revenue recovery at Intel (INTC), continued revenue growth at TSMC (TSM), and ramping activity from 5G and photonic" markets in concluding that FormFactor's growth prospects look "increasingly bullish".
04/08/19
BOFA
04/08/19
NO CHANGE
Target $35
BOFA
Buy
AMD price target raised to $35 from $30 at BofA/Merrill
BofA/Merrill analyst Vivek Arya raised his price target on AMD (AMD) to $35 and kept his Buy rating, also raising his FY20 EPS view by 10% to $1.10. The analyst cites the availability of new products given the second half of 2019 ramp of new EPYC-2 server, reduced costs, and the potential for more benign price competition, "with key rival Intel's (INTC) stable pricing of new Cascade Lake server products."
04/05/19
04/05/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Market Perform from Outperform at Wells Fargo with analyst Aaron Rakers saying the shares, after rallying 19% year-to-date, reflect a more balanced risk/reward. 2. Boston Beer (SAM) downgraded to Sell from Neutral at Goldman Sachs with analyst Judy Hong saying she sees headwinds in 2019 as competition intensifies and the company is "unlikely to repeat its innovation success again this year." 3. Ford (F) downgraded to Reduce from Neutral at Nomura Instinet with analyst Anindya Das saying Ford's higher share of the U.K. auto market compared to the rest of Europe makes it more susceptible to Brexit risks. 4. Constellation Brands (STZ) downgraded to Hold from Buy at Deutsche Bank. 5. International Paper (IP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Paul Quinn saying while International Paper is a "great company," investors have increased scrutiny on the containerboard market due to the "softening demand and fears of incremental capacity coming online" as year-to-date shipment growth slowed to 0.8% from 1.5% in 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/05/19
WELS
04/05/19
DOWNGRADE
Target $60
WELS
Market Perform
Wells Fargo downgrades Intel to Market Perform after 19% year-to-date rally
Wells Fargo analyst Aaron Rakers downgraded Intel (INTC) to Market Perform from Outperform while raising his price target for the shares to $60 from $55. The stock closed yesterday up 44c to $55.92. The shares, after rallying 19% year-to-date, reflect a more balanced risk/reward, Rakers tells investors in a research note. His downgrade is valuation-driven but also reflects a more cautious view on current semiconductor demand data points going into Q1 earnings. Further, Intel's comps thru 2019 are tough, and investor sentiment could become "more tempered" amid increasing visibility into AMD (AMD) share gain momentum, contends Rakers.
QCOM Qualcomm
$61.72

4.53 (7.92%)

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
$198.70

-0.51 (-0.26%)

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

LPL

LG Display

$8.35

-1.14 (-12.02%)

12:10
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12:10
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OXY

Occidental Petroleum

$60.91

-1.44 (-2.31%)

, APC

Anadarko

$71.89

7.77 (12.12%)

12:09
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04/24
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12:09
On The Fly
Fly Intel: Wall Street's top stories at midday »

The major averages are…

OXY

Occidental Petroleum

$60.91

-1.44 (-2.31%)

APC

Anadarko

$71.89

7.77 (12.12%)

CVX

Chevron

$118.80

-3.2 (-2.62%)

BA

Boeing

$378.71

4.67 (1.25%)

T

AT&T

$30.75

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CAT

Caterpillar

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CBS

CBS

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VIA

Viacom

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0.53 (1.46%)

VIAB

Viacom

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0.61 (2.08%)

SAP

SAP

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13.12 (11.42%)

SLAB

Silicon Labs

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12.195 (13.02%)

EBAY

eBay

$38.25

1.59 (4.34%)

RES

RPC, Inc.

$11.10

-1.8 (-13.95%)

IRBT

iRobot

$103.20

-27.22 (-20.87%)

SNAP

Snap

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TDOC

Teladoc

$54.67

0.32 (0.59%)

, HUM

Humana

$249.01

0.71 (0.29%)

12:09
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Teladoc, Humana analyst commentary at Baird »

Humana virtual primary…

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Teladoc

$54.67

0.32 (0.59%)

HUM

Humana

$249.01

0.71 (0.29%)

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MPC

Marathon Petroleum

$60.06

-0.94 (-1.54%)

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Options
Marathon Petroleum call volume above normal and directionally bullish »

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UMC

UMC

$1.94

0.015 (0.78%)

12:04
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12:04
Upgrade
UMC rating change  »

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LRN

K12

$31.56

-4.665 (-12.88%)

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Hot Stocks
K12 falls -12.4% »

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SPN

Superior Energy

$4.28

-0.685 (-13.80%)

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Hot Stocks
Superior Energy falls -13.9% »

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RES

RPC, Inc.

$11.04

-1.86 (-14.42%)

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RPC, Inc. falls -14.2% »

RPC, Inc. is down -14.2%,…

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SAP

SAP

$128.22

13.38 (11.65%)

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SAP rises 11.7% »

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APC

Anadarko

$71.92

7.8 (12.16%)

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Anadarko rises 12.4% »

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TRK

Speedway Motorsports

$18.50

4.52 (32.33%)

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Treasury Action: Fed funds futures are rallying alongside the surge in Treasuries »

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HMST

HomeStreet

$28.08

(0.00%)

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PYPL

PayPal

$107.92

1.01 (0.94%)

, FB

Facebook

$183.84

0.07 (0.04%)

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Fly Intel: What to watch in PayPal earnings report »

PayPal (PYPL) is…

PYPL

PayPal

$107.92

1.01 (0.94%)

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Facebook

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EBAY

eBay

$38.45

1.79 (4.88%)

JPM

JPMorgan

$113.45

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AMRN

Amarin

$18.32

-0.07 (-0.38%)

11:45
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Amarin call volume above normal and directionally bullish »

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11:45
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Treasury's $20 B FRN auction was awarded at a high discount margin of 0.139% »

Treasury's $20 B FRN…

LRN

K12

$31.11

-5.115 (-14.12%)

11:40
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K12 analyst commentary at Barrington »

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TSLA

Tesla

$262.87

-0.98 (-0.37%)

, SSNLF

Samsung

$0.00

(0.00%)

11:40
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Earnings
Fly Intel: What to watch in Tesla earnings report »

Tesla (TSLA) is scheduled…

TSLA

Tesla

$262.87

-0.98 (-0.37%)

SSNLF

Samsung

$0.00

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CAT

Caterpillar

$138.82

-3.26 (-2.29%)

11:37
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Breaking Hot Stocks news story on Caterpillar »

Caterpillar: Trade…

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GWW

Grainger

$292.75

-0.46 (-0.16%)

11:37
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11:37
Hot Stocks
Grainger authorizes repurchase of additional 5M shares »

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BKU

BankUnited

$35.97

0.24 (0.67%)

11:36
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Downgrade
BankUnited rating change at Sandler ONeill »

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GWW

Grainger

$292.73

-0.48 (-0.16%)

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Grainger raises dividend by 6% to $1.44 per share »

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BBY

Best Buy

$75.08

1.48 (2.01%)

, PG

Procter & Gamble

$104.47

1.28 (1.24%)

11:36
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On The Fly
Best Buy, P&G, Snap upgrades among today's top analyst calls »

Check out today's top…

BBY

Best Buy

$75.08

1.48 (2.01%)

PG

Procter & Gamble

$104.47

1.28 (1.24%)

SNAP

Snap

$11.20

-0.79 (-6.59%)

KHC

Kraft Heinz

$32.73

-0.365 (-1.10%)

AAPL

Apple

$208.23

0.73 (0.35%)

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TEVA

Teva

$14.98

0.07 (0.47%)

, MYL

Mylan

$26.47

-0.13 (-0.49%)

11:35
04/24/19
04/24
11:35
04/24/19
11:35
Recommendations
Teva, Mylan, Novartis analyst commentary at Wells Fargo »

Sandoz results should not…

TEVA

Teva

$14.98

0.07 (0.47%)

MYL

Mylan

$26.47

-0.13 (-0.49%)

NVS

Novartis

$78.35

2.51 (3.31%)

03/08/13
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YPF

YPF

$14.54

-0.35 (-2.35%)

11:35
04/24/19
04/24
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04/24/19
11:35
Options
YPF put volume heavy and directionally bearish »

Bearish flow noted in YPF…

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