78.09 +0.34 (0.44%)
After hours: 7:58PM EDT
|Bid||78.02 x 800|
|Ask||78.10 x 900|
|Day's Range||77.22 - 79.04|
|52 Week Range||49.10 - 90.34|
|Beta (3Y Monthly)||1.32|
|PE Ratio (TTM)||41.05|
|Forward Dividend & Yield||2.48 (2.88%)|
|1y Target Est||N/A|
Stock futures: The stock market rally attempt rose on China trade war news on Huawei. Growth stocks fared well. Apple, chips and other China-exposed stocks bounced.
A drop in Qualcomm stock following news that U.S. tech companies were taking steps to comply with government restrictions on sales to Huawei Technologies represents a buying opportunity, according to Canaccord Genuity.
Technology companies helped power stocks broadly higher on Wall Street Tuesday, snapping the market's two-day losing streak.
The department store operator's first quarter results and its profit forecast for the year fell short of forecasts. The drug developer is suing the U.S. government over a Medicaid drug rebate decision for its Acthar Gel. Crane Co. is offering to buy the industrial pumps and valves maker for about $895 million in cash.
Shares of American semiconductor and telecommunications equipment company QUALCOMM, Inc. (NASDAQ: QCOM) were trading higher Tuesday following a Reuters report that the company may be able to license its 5G network technology patents to Huawei, as export laws do not cover patents. On May 15, the Trump administration added Huawei to a list of companies that U.S. firms can no longer trade with unless they have a license. The "entity list" bans the company from acquiring technology from U.S. firms without government approval.
Investing.com – U.S. stocks bounced back on Tuesday from a slump a day earlier, led by tech stocks after the U.S. temporarily eased some of the restrictions on China's Huawei.
Chip stocks led stocks higher early Tuesday following a stay in U.S. trade measures against China's Huawei. But retailers including Home Depot lost ground.
Both InterDigital, Inc. (IDCC) and Qualcomm Incorporated (QCOM) expect to continue licensing patented 5G networking technology to Huawei.
Alphabet's (GOOGL) Google unveils advanced augmented reality glasses with an aim to aid businesses in improving work efficiency.
Keysight (KEYS) is benefiting from solid demand of its electronic design and test instrumentation systems, primarily from telecom vendors.
A new reports suggests that investigators with the U.S. Federal Trade Commission had widened their antitrust investigation into the San Jose-based chipmaker.
Qualcomm's (NASDAQ:QCOM) victory over Apple (NASDAQ:AAPL) was worth millions to its top executives and billions to its shareholders.Source: Shutterstock The San Diego-based mobile chip company splashed out stock to its team after winning a big settlement on their patent claims, including $3.5 million to CEO Steve Mollenkopf, who led the legal battle.Compared with the windfall given shareholders, this was less than a penny tip on a $100 meal. Since the settlement was announced in mid-April, shares were up 52%, adding over $36 billion to the market cap.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe question for investors, as the stock opened May 21 at about $79 per share, was whether the celebration might have been overdone. How Much?A look at the company's fiscal second quarter, announced May 1, indicated it might have been. Revenues were down from the previous year, at $5 billion against $5.2 billion. Net income of $700 million, 57 cents per share fully diluted, were more than twice the previous year, but less than the $1.1 billion, 87 cents per share, achieved in the first quarter. * 7 Stocks to Buy for Over 20% Upside Potential The windfall, management said, would come to $4.5 billion-$4.7 billion in the current quarter, about $3.77 per share. Analysts who had confidently raised their price targets were left singing the old Peggy Lee hit, "Is That All There Is?" Third-quarter guidance wasn't impressive, and bulls were left hoping that an end to the China trade war might become the next earnings catalyst, sending the shares to $100. Tomorrow may belong to Qualcomm, with earnings estimates as high as $6.37 per share for 2021, but tomorrow looks far away. Tell Us More About AppleCEO Mollenkopf also focused on the middle distance during his talk with analysts after the earnings. The Apple deal is for 6 years, he said. The roll-out of "5G" technology, on which Qualcomm controls patent rights, is just starting.Imagine what 5G will do in China, "the largest mobile base in the world," he added. Since then, the stock has gone almost nowhere, perhaps because the U.S. relationship with China is going nowhere.Tell us more about the Apple settlement, the bulls are saying. OK, Mollenkopf said. The Apple settlement will be worth $2 per share this year, but the big money comes in 2021, in the form of 5G chipsets based on Snapdragon designs.The final Apple settlement, while welcome, looks to have been based on yet-another failure by Intel (NASDAQ:INTC), the New York Knicks of technology, to deliver a workable design. Apple had to give Qualcomm what it wanted or it would lose market share to Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) Android as 5G came on-stream. Analysts who hadn't bet on the Apple settlement before it happened decided that it had delivered all it could to the stock and took a pass. The Bottom LineWhether you should take a pass depends on your investment time horizon.The 5G era will come, and Qualcomm will dominate it, providing an enormous boost to revenue and earnings over the next five years. If you can stand a bumpy ride, riding out tweetstorms and a slowdown in the smartphone market, that $6.37 per share in 2021 earnings would be a forward price to earnings multiple of 11.6 at Qualcomm's May 21 price. After all, the current dividend of $2.48 per year is a yield of 2.88%, and it should be rising now that the skies ahead are clear.If you can't wait around five years for a stock to come good, walk away. The party's over. Time for Qualcomm to go back to work.Dana Blankenhorn is a financial and technology journalist. He is the author of a new environmental story, Bridget O'Flynn and the Bear, available now at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in AAPL. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for Over 20% Upside Potential * 5 Large-Cap Stocks Holding Steady Amid Trade War Concerns * 7 ETFs for Healthy Healthcare REITs Compare Brokers The post Was Qualcomm's Apple Settlement Over-Rated? appeared first on InvestorPlace.
The market started yesterday's action in the hole, and was content to end it there, essentially where it started. The S&P 500 ended the day down 0.67%, with trade tensions still weighing on investors' confidence.Source: Allan Ajifo via Wikimedia (Modified)Qualcomm (NASDAQ:QCOM) led the way lower, falling almost 6% on the heels of news that the ban on deals with China's tech company Huawai would hit it particularly hard. Broadcom (NASDAQ:AVGO) fell almost as much for the same reason.There were some winners though. Chief among them was Sprint (NYSE:S), up almost 19% after FCC Chairman Ajit Pai commented he was in favor of its intended merger with T-Mobile US (NASDAQ:TMUS).InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Baby Boomer Stocks to Buy None are great prospects headed into Tuesday's session, however. Rather, it's the stock charts of DISH Network (NASDAQ:DISH), WellCare Health Plans (NYSE:WCG) and Synopsys (NASDAQ:SNPS) worth closer looks. Synopsys (SNPS)Sometimes it takes one last big, high-volume selloff called a capitulation to get a new uptrend started. Other times, the opposite applies. It takes what looks to be a heating up of an already impressive rally to kickstart an overdue pullback.That appears to be what's materialized for Synopsys over the course of the past few days. For the better part of last week, it looked like it could do no wrong. As of yesterday though, it's breaking down key technical support in a rather decisive fashion. Click to Enlarge * Monday's close below the purple 50-day moving average line is a red flag, but made even more alarming by the fact that the stock jumped to new 52-week highs on a volume surge on Thursday. * Zooming out to a weekly chart we get a feel for just how overextended the rebound from early in the year was. Up more than 50% for the four-month stretch, profit-takers are getting antsy. DISH Network (DISH)A couple of weeks back, DISH Network moved onto traders' radars as a bullish candidate thanks to its so-called 'golden cross,' where the 50-day moving average line moves back above the 200-day moving average. Shares ended up bumping into an established ceiling around $35.55 though, setting the stage for what ended up being a sizeable intraday pullback on Monday.The nature of that stumble and what happened in the middle of yesterday's action, however, sets the stage for not just more bullishness, but the breakout thrust that couldn't get going in earnest a month ago. * 7 ETFs for Healthy Healthcare REITs Click to Enlarge * The sheer height and shape (and placement) of Monday's bar is the key. All it took was a kiss of the gray 100-day moving average line to chop the intraday loss in half. * The volume spike is another key clue of potential bullishness. The mass migration in and out of the stock suggests all the would-be sellers and weak hands were flushed out. * The clinchers for the clue are a follow-through break above the near-term ceiling around $35.55 and then last year's high around $37, marked in yellow on both stock charts. WellCare Health Plans (WCG)With nothing more than a quick glance, WellCare Health Plans just looks like a volatile, indecisive stock. And, perhaps that's all it is. There has been more method to the madness of late than it seems with just a superficial glance though, and the bullish argument got even better last week, and better still on Monday. There's just one proverbial fly in the ointment.The recent buy signal is last week's cross back above the 200-day moving average line, plotted in white on both stock charts. That line appeared to serve as support yesterday. Click to Enlarge * At the same time, WCG shares are logging higher lows. * Although impressively bullish since late last week despite the marketwide bearish tide, the bullish volume is thin and waning. * The line to watch from here is just under $290, where WellCare Health Plans peaked a couple of times since the beginning of the year. That ceiling is marked in red on both stock charts. * The long-term uptrend has been bullish for years, driven by a rising support line that extends back to 2016.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for Over 20% Upside Potential * 5 Large-Cap Stocks Holding Steady Amid Trade War Concerns * 7 ETFs for Healthy Healthcare REITs Compare Brokers The post 3 Big Stock Charts for Tuesday: Synopsys, DISH Network and WellCare Health Plans appeared first on InvestorPlace.
Shares of chipmakers rebounded from a sell-off on Tuesday after the U.S. temporarily eased some trade restrictions on China's Huawei.
A Look at NASDAQ’s Worst Performers YesterdayNASDAQ 100On May 20, the NASDAQ 100 Index continued to tank for the second consecutive day. In the last couple of days combined, it has lost nearly 3%. In the weeks ended May 10 and May 17, the NASDAQ
Marvell (MRVL) aims to enhance its product portfolio with the impending acquisition of Avera Semiconductors, which is expected to close by January 2020.
Sprint and T-Mobile took another step toward getting their tortured $26 billion merger approved after the chairman of the FCC backed the deal. But the companies aren’t out of the woods yet.
The U.S. government has imposed heavy restrictions on Huawei, accusing the world's largest telecommunications equipment maker of being vulnerable to involvement in activities contrary to national security or foreign policy interests. Huawei denies this, saying Washington has produced no evidence to back up its claims and that independent testing of its equipment shows no vulnerability to potential Chinese espionage. Huawei Vice-President Catherine Chen told newspaper Corriere della Sera in an interview published on Tuesday that the company had been working in Europe for 10 to 20 years, collaborating closely with telecoms firms on developing 5G networks.
In commodities, crude oil gained 0.7% to $63.67 a barrel. Gold futures fell 0.1% to $1,275.45 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.2% to 97.907.
BEIJING (AP) — Asian stocks were mixed Tuesday after anxiety over U.S. restrictions on sales to Chinese tech giant Huawei pulled Wall Street lower.
Although many investors were expecting a resolution to the trade war between the United States and China just a few months ago, it now seems that the trade war between the U.S. and China could last for a while. While numerous sectors are affected by the trade war, it seems that the semiconductor sector is arguably one […]
Rajvindra Gill, managing director of semiconductor research at Needham & Company, joins "Squawk Box" to discuss how chip stocks were hit by the news that President Trump would block Huawei elements from coming to the U.S.