The immaturity and lack of knowledge shown by some of the questions in the CC is stunning. Who cooked up this concept that QRVO would be "losing sockets" ? What a ridiculous idea. This is fear-mongering, trading mentality applied to a real business. Apparently these guys think that QRVO's customers are as fickle as they are. They do not appreciate the depth of the relationship between a high-tech supplier and the companies that use their products.
Worse is good for HFC.
The CA gasoline shortage has hastened the inevitable regional supply shift.
: Unless they have contractual obligations to do so, no CA refinery is sending product into NV now. CA-spec gas will stay in CA.
: The UT refineries are taking the NV market, much of it shipped in via UNEV, with less product going to AZ.
: The NM and west TX refineries are taking up the slack in AZ. You can see evidence of this in that NM gas prices have turned higher while the price of crude has dropped. Gas prices here have gone up even as WTI has dropped below 50.
For this reason I am buying HEP on any weakness. This is a win/win for them. And for HFC too. Until CA supply is better balanced, this will negate some of the seasonal lag HFC usually sees in winter.
And it will get even better when the Woods Cross expansion is up. The incremental increase will come from local black wax crudes ,which track closer price-wise to WCS than anything. I like HFC and HEP going forward.
The guys at Macquarie follow this stuff closely and they upgraded HFC a couple days ago. The rest of the street appears to be missing this.
I would not be surprised to see the return of the special divvy after earnings.
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Enough hyperbole, ok? What "embarrassment" ? They beat the street's Q2 consensus estimates and came in at the high end of the range THEY GUIDED TO last qtr. Put the blame where it belongs. It was the street analysts who blew it for Q3. Got way ahead of their skiis. QRVO does not guide 2 qtrs ahead. They give annual targets, and estimates for the next qtr, ONLY. Nothing else.
I've said this before, and will say it again. Ignore the street estimates and go with the company's. Buhaly is pretty good and not prone to BS.
HOUSTON (Reuters) - Canadian crude prices have dropped to $30 a barrel and face further downward pressure as refineries shut for maintenance, cutting demand.
WCS for August delivery traded at $17.25 a barrel under the U.S. crude benchmark Thursday, in the weakest differential this year, according to Shorcan Energy Brokers. U.S. crude settled at $48.14, down 31 cents, its lowest close since March 31.
There's more than one market maker for Nasdaq stocks.
This looks like a "pairs trade" to me, they're picking SWKS and AVGO to win and QRVO to lose.
Doesn't seem to matter. The momo players go short at the end of every quarter, regardless of the company's outlook. Happens every qtr. It triggers technical indicators and thereby doubt that the co is executing. For the last 2 years, the smart way to invest in this stock is to listen to the company, ignore the speculations, and be patient.
The weakness makes sense to me. HFC is no longer a divvy play. as stated on the cc, the focus now is share price appreciation. Many funds were into this for the divvies, expecting the special to come back. They're winding down their position. I'd give it 2-3 days.