Unusual Options Activity Fri 1/12/24

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• ALT Jan 11.5 calls are seeing interest with the underlying stock up 4% (volume: 2100, open int: 1000, implied vol: ~236%, prev day implied vol: 158%). Co is expected to report earnings mid-February.
• TSM Jan 103 calls (volume: 16.1K, open int: 500, implied vol: ~45%, prev day implied vol: 27%). 1200 contracts traded in a single transaction. Co is confirmed to report earnings January 18 before the open.
• WW Feb 6.5 calls are seeing interest with the underlying stock down 5% (volume: 8570, open int: 20, implied vol: ~107%, prev day implied vol: 96%). NY Times reported that there is no evidence that weight loss drugs cause suicidal thoughts. Co is expected to report earnings late February.
• ARDX Feb 11 calls (volume: 2960, open int: 10, implied vol: ~78%, prev day implied vol: 74%). Co is expected to report earnings early March.
  

Bearish Put Activity:

• QCOM Jan 141 puts (volume: 1620, open int: 10, implied vol: ~47%, prev day implied vol: 31%). Co is confirmed to report earnings January 31 after the close.
• IOT Feb 31 puts (volume: 3230, open int: 0, implied vol: ~54%, prev day implied vol: 50%). Co is expected to report earnings late February.
  

Sentiment: The CBOE Put/Call ratio is currently: 1.04, VIX: (12.70, +0.26, +2.1%).
January 19 is options expiration -- the last day to trade January equity options.

Unusual Options Activity Fri 10/6/23

 

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• MU Oct 68 calls (volume: 3940, open int: 8070, implied vol: ~67%, prev day implied vol: 46%).  2K traded in a single transaction. Co starting construction on memory fab in Idaho; expected to come online in phases starting in 2025, with DRAM production ramping over the second half of the decade. Co is expected to report earnings late December. 
• QCOM Oct 110 calls (volume: 3020, open int: 760, implied vol: ~43%, prev day implied vol: 35%). The Biden administration is expected to soon tighten chip tool restrictions against China. Co is confirmed to report earnings November 1 after the close.
• AVGO Oct 840 calls (volume: 1920, open int: 640, implied vol: ~37%, prev day implied vol: 34%). Co is expected to report earnings mid-November.
  

Bearish Put Activity:

• UPST Oct 25 puts (volume: 2610, open int: 410, implied vol: ~159%, prev day implied vol: 100%). Co is expected to report earnings early November.
• SIRI Nov 4 puts (volume: 10.4K, open int: 10, implied vol: ~91%, prev day implied vol: 88%). 2500 contracts traded in a single transaction. Co is confirmed to report earnings November 3 before the open.

Sentiment: The CBOE Put/Call ratio is currently: 1.30, VIX: (17.64, -0.85, -4.6%).
October 20 is options expiration -- the last day to trade October equity options.

Insider Trading : Thur 9/14/23

Notable purchases -- CEO & Co-President add to VIRT; notable sales -- Buffett active in HPQ

Buyers:

• JYNT 10% owner Bandera Partners bought 47,156 shares at $9.26 - $9.51 worth ~$442K.
• MEG Director bought 10,000 shares at $32.815 - $32.98 worth ~$329K.
• MODV 10% owner Coliseum Capital bought 213,248 shares at $28.84 - $31.00 worth ~$6.4 mln.
• NRDS Chief Executive Officer bought 30,588 shares at $8.36 - $8.42 worth ~$256K.
• PIII 10% owner bought 270,000 shares at $2.33 - $2.65 worth ~$685K.
• SMLR Director bought 77,771 shares at $26.98 - $28.11 worth ~$2.1 mln.
• UWMC Director bought 40,000 shares at $5.20 worth ~$208K.
• VIRT Chief Executive Officer and Co-President & Co-COO bought a total of 65,000 shares at $16.89 - $17.25 worth ~$1111K.

Sellers:

• HPQ 10% owner Warren E. Buffett sold 5,502,172 shares worth more than $158 mln.
• QCOM Chief Technology Officer sold 27,962 shares at $112.93 - $113.40 worth ~$3.2 mln.

Unusual Options Activity, Tue 6/20/23

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• CHPT June 9 calls are seeing interest with the underlying stock down 8% (volume: 8630, open int: 3750, implied vol: ~96%, prev day implied vol: 64%). Co is expected to report earnings late August.
• ETSY Jun 100 calls (volume: 10.2K, open int: 120, implied vol: ~61%, prev day implied vol: 46%). Co approves repurchase of up to $1 bln in common stock. Co is expected to report earnings late July.
• QCOM Jun 130 calls (volume: 3280, open int: 3830, implied vol: ~46%, prev day implied vol: 31%). Co is expected to report earnings early August.
  

Bearish Put Activity:

• PBR Jan25 10 puts (volume: 2410, open int: 0, implied vol: ~43%, prev day implied vol: 27%). Co is scheduled to present at a investor day on Dec 1. Co is expected to report earnings mid-August.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.82, VIX: (14.22, +0.03, +0.2%).
July 21 is options expiration -- the last day to trade July equity options.

Unusual Options Activity

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• UNIT Aug 4 calls are seeing interest with the underlying stock up 10% (volume: 3570, open int: 0, implied vol: ~82%, prev day implied vol: 69%). 3500 contracts traded in a single transaction. Co is confirmed to report earnings May 4 before the open.
• CFG May 32.5 calls (volume: 4070, open int: 1540, implied vol: ~59%, prev day implied vol: 48%). Co is confirmed to report earnings July 19 before the open.
• QCOM Apr 116 calls (volume: 5790, open int: 730, implied vol: ~35%, prev day implied vol: 32%). Co is confirmed to report earnings May 3 after the close.
• WBD May 13 calls are seeing interest with the underlying stock 4% (volume: 20.8K, open int: 150, implied vol: ~66%, prev day implied vol: 63%). 10K traded in a single transaction. Co is confirmed to report earnings May 5 before the open.
  

Bearish Put Activity:

• CLF Apr 15 puts (volume: 2610, open int: 500, implied vol: ~85%, prev day implied vol: 55%). Chairman, President & CEO and the EVP & President of CC Services bought a total of 107,300 shares worth ~$1.6 mln. Co is expected to report earnings mid-July.
  

Sentiment: The CBOE Put/Call ratio is currently: 1.01, VIX: (16.16, -0.87, -5.1%).
May 19 is options expiration -- the last day to trade May equity options.

=-=Qualcomm (QCOM) reported earnings on Wed 3 Feb 21 (a/h)

 

 Qualcomm beats by $0.07, reports revs in-line; guides Q2 EPS mid point above consensus; revs above consensus 

Reports Q1 (Dec) earnings of $2.17 per share, excluding non-recurring items, $0.07 better than the S&P Capital IQ Consensus of $2.10; revenues rose 62.2% year/year to $8.23 bln vs the $8.26 bln S&P Capital IQ Consensus.

Co issues in-line guidance for Q2, sees EPS of $1.55-1.75, excluding non-recurring items, vs. $1.56 S&P Capital IQ Consensus; sees Q2 revs of $7.2-8.2 bln vs. $7.07 bln S&P Capital IQ Consensus.

"We delivered an exceptional quarter, more than doubling earnings year-over-year due to strong 5G demand in handsets and growth in our RF front-end, automotive and IoT adjacencies, which drove record earnings in our chip business," said Steve Mollenkopf, CEO of Qualcomm Incorporated. "We remain well positioned as the 5G ramp continues and we extend our core technology roadmap to adjacent industries."

Earnings this week : Feb 1 - 5, 21 (wk 5)

Monday (Feb 1)

• Morning:  ON OTIS TMO
• Afternoon: ARE CBT CRUS CACC EZPW FN HLIT IBTX KMPR KMT KRC NXPI OMCL PCH RMBS SKY VRTX WWD

Tuesday (Feb 2)

• Morning: BABA ALGM ABG ATKR ATHM TECH BP BR CTLT COP ETN EMR ENTG AQUA XOM RACE BEN GWW GPK HAE HLNE HOG HCA HUBB IDXX IMO LII LITE MHO MMP MAN MPC MCK MDC MPLX PFE PBI PINC ST SIRI SYY UPS WDR
• Afternoon:  ATGE GOOG AMZN AMCR DOX AMGN APAM ATO EPAY BDN BRKS CMG CB EA FEYE FBHS GL ICHR MANH MTCH MRCY PACW PKI POWI SANM SCSC STE TENB VIAV

Wednesday (Feb 3)

• Morning:  ABBV APO APTV AVY BIIB BSX BIP CPRI CHKP CNHI DT EPD EVR HWM HUM INGR LGND LAD MTOR MIME MSGS PFGC SC SNDR SMG SLAB SPOT TGI VNE WNC
• Afternoon:  ADTN AFL ALGN ALGT ALL UHAL AFG ANGI ASH AVB AVTR AXTA CHNG CCMP CTSH CTVA CSGS ELF EBAY ECHO PLUS FORM GRUB THG HI IEX INOV IAC KLAC KLIC LCI LNC MXL MDU MET MAA MWA MUSA NTGR PYPL QRVO QCOM RYN RGLD SIMO SU TSE TBI TTMI UGI VVV YUMC

Thursday (Feb 4)

• Morning: ABB WMS AGCO APD ALXN ABC AME ARW BLL BAX BCE BDX BV BMY GOOS CG CI CLX CMS COR CMI GPI HSY HIMX IP ICE JHG LANC LEA LSPD MMS MPW MRK MDP MSGN NYT NJR NS ODFL PH PTEN BTU PENN PM PBH DGX RL RDS.A SBH SNA SR TPR TKR TW VSTO WD WEC XYL YUM
• Afternoon:  ATVI AINV BHE BILL CPT CSL COLM OFC DECK DLX DXC ENVA ESS EXPO FLT F FTNT FTV GILD GPRO HIG HUBG KN LGF.A LPLA MTD MCHP MTX MOBL MPWR MSI NFG NBIX NEWR NWSA NLOK NOV OHI ONTO OTEX PCTY PTON PFSI PINS PLT POST PFPT PRO PRU SKX SKYW SNAP SYNA TMUS TDC TWST U UNM VREX WERN WWE WYNN ZEN

Friday (Feb 5)  

• Morning:  ADNT AON BERY CAH CBOE ROAD EL EAF HRC ITW LAZ REGN SNY SPB TT ZBH

-=Qualcomm (QCOM) reported earnings on Wed 29 July 20 (a/h)

Qualcomm beats by $0.15, beats on revs; guides Q4 EPS in-line, revs in-line

Reports Q3 (Jun) earnings of $0.86 per share, excluding non-recurring items, $0.15 better than the S&P Capital IQ Consensus of $0.71; Non-GAAP revenues fell 0.1% year/year to $4.89 bln vs the $4.8 bln S&P Capital IQ Consensus.

Co issues in-line guidance for Q4, sees EPS of $1.05-1.25, excluding non-recurring items, vs. $1.09 S&P Capital IQ Consensus; sees Q4 revs of $5.5-6.3 bln (Non-GAAP) vs. $5.76 bln S&P Capital IQ Consensus.

"Our guidance for the fourth quarter of fiscal 2020 includes an impact of greater than ($0.25) to EPS attributable to a planning assumption of an approximate 15% year-over-year reduction in handset shipments due to COVID-19, including a partial impact from the delay of a global 5G flagship phone launch. However, the actual impact may differ materially due to the challenging economic environment and highly uncertain effects of COVID-19."

"As 5G continues to roll out, we are realizing the benefits of the investments we have made in building the most extensive licensing program in mobile and are turning the technical challenges of 5G into leadership opportunities and commercial wins," said Steve Mollenkopf, CEO of Qualcomm Incorporated. "We delivered earnings above the high end of our range, continued to execute in our product and licensing businesses and entered into a new long-term patent license agreement with Huawei, all of which position us well for the balance of 2020 and beyond."

Earnings this week : July 27 - 31, 20 (wk 31)

Monday (July 27)

• Afternoon: AGNC ARE AMKR BRO CATY CINF FIX CR EHC FFIV HSTM HTLF HXL IBTX JJSF JBT MEDP NOV NXPI OGS OMF PCH PFG QTS RNST SSD TCF TNET TBI UHS VCRA

Tuesday

• Morning: MMM MO ARCH AWI ABG B CNC CVLT GLW CMI DHI DTE ECL FBP EBC FELE BEN HOG HUN IVZ IRDM JBLU LH LW MLM MCD MDC MSCI NEO EDU OMC PFE PII PRLB RTX ROK ROP SPGI ST SHW SSTK SITC TRU TPB WAB WDR XRX YNDX ZBRA
• Afternoon: ACCO AMD AFL AKAM AMED AMGN APAM ASH ATRC CAR AXS BE BGFV BXP BYD CHRW CE CB CYH CSGP DENN DXCM EGP EBAY EIX ENVA EQR EEFT FEYE FCF FTV THG HA HP HIW IMAX JNPR KAI LSCC MASI MTDR MXIM MDLZ MPWR MRC NCR NWE OMCL OKE PKG PEGA PKI PLT RNR RXN STX SSNC STAG SBUX SYX TENB TRMK UDR UMBF UNM V WRE WH

Wednesday

• Morning: AAN AER ALKS ANTM APHA ADP AXTA BKU BDC BXMT BA BSX BCO BG CCJ CLS GIB CHEF CME CRTO DIN DT ETN ENB ETR EPD FSS FDP GRMN GD GE GM HES IPG JHG LIVN MHO MGLN MTOR MNRO NYCB NSC OC PAG PB RDWR ROL RES R SAIA SNY SC SMG SHOP SLAB SITE SIX SPOT TSEM FLOW SMP SHOO TROW TEL MEET TT UMC UTHR WNC WING

• Afternoon: AEGN AEM AGI ALGT AMP NLY AM AR APA ACGL ADM ASGN AVB AVTR AX BHE BLKB WHD CERN CAKE CHE CHDN CDE CGNX CTSH CXO CNMD CCI CONE DORM DRE WIRE EQIX EQC FB FICO FBHS FCPT GNW HOLX HPP PI INOV ISBC KRC KGC KN KLIC LRCX MTSI MANT VAC MGRC MMSI MAA MKSI MOBL MC MSA EGOV ORLY OII OIS PGRE PYPL PDM PPC PS PTC QRVO QCOM RJF SANM SIGI SCI NOW SIMO SKY SFM SRI RGR FTI TDOC TTEK TSE TROX TTMI TYL UCTT URI VICI WRI WERN WPX YUMC

Thursday (July 30)

• Morning: AOS ALXN AMT BUD APO APTV AZXN BAX BPMC BC CWT CRAI CI CLF COHU CMCSA COP COR CROX DAN DBD DNKN DD EXP ELAN LLY ES FMS FCN GNRC GPC GIL GPI GRUB HBI HGV IP ITGR ICE K KDP KEX KHC LNTH LKQ MMP MMC MA MPW MD MGPI TAP MCO MYE NTCT NEM NOC NVCR ODFL OSK OSTK PATK PRFT PBI PQG PG PFS RGEN RDS.A SNDR SIRI SM SAH SO SWK SF TMHC TRP TFX TPX TNC TXT TW TRS UPS GRA WM WEX YUM
• Afternoon: TWOU EGHT AIMT MDRX GOOG ATUS AMZN AAPL ATR ACA AJG TEAM BGA BAND BIO BEAT BRKS BVN BLDR COG CPT CC CXP COLM OFC CUZ CVA CACC CRY DVA DECK DLX DLR DRQ LOCO EA EBS NVST EXAS EXPE EXPO FHI FLEX FND FLS F FORM FTAI FWRD GLPI GILD HIG HTGC HTH HOPE HST HUBG MX MTZ MELI MGM MTX MITK MHK MOH PFPT PRO QDEL RP RDFN SGEN SHAK SKYW SPSC SYK TNDM X VRTX VRTU INT WWE XLNX XPO ZEN

Friday (July 31)

• Morning: ABBV AXL AON BCPC BERY BAH CAT CBOE CBRE CHTR CVX CHD CL CTS D XOM FCAU GT IDXX ITW MRK NOK NWL NVT PBF PSX PSXP PINS PNM SNA SPB UAA VFC WPC WETF

Earnings spotlight:

• Avery Dennison (NYSE:AVY), Hasbro (NASDAQ:HAS) and NXP Semi (NASDAQ:NXPI) on July 27; 
• Centene (NYSE:CNC), McDonald's (NYSE:MCD), Pfizer (NYSE:PFE), 3M (NYSE:MMM), Altria (NYSE:MO), Visa (NYSE:V), Starbucks (NASDAQ:SBUX), eBay (NASDAQ:EBAY) and Mondelez International (NASDAQ:MDLZ), AMD (NASDAQ:AMD) and Raytheon Technologies (NYSE:RTX) on July 28; 
• Boeing (NYSE:BA), General Electric (NYSE:GE), General Motors (GPhillM), General Dynamic (NYSE:GD), Boeing (BA), Spotify (NYSE:SPOT) Facebook (FB), PayPal (NASDAQ:PYPL), Archer Daniels Midland (NYSE:ADM), Qualcomm (NASDAQ:QCOM), Shopify (NYSE:SHOP) and Yum China (NYSE:YUMC) on July 29; 
• Royal Dutch Shell (NYSE:RDS.A), CIGNA (NYSE:CI), Comcast (NASDAQ:CMCSA), UPS (NYSE:UPS), Procter & Gamble (NYSE:PG), Anheuser-Busch InBev (NYSE:BUD) and Kraft Heinz (NASDAQ:KHC), DuPont (NYSE:DD), Valero Energy (NYSE:VLO), Amazon (AMZN), Apple (AAPL), Alphabet (GOOGL), Ford (NYSE:F), MGM Resorts (NYSE:MGM) and Gilead Sciences (NASDAQ:GILD) on July 30; 
• Exxon Mobil (NYSE:XOM), Phillips 66 (NYSE:PSX), Chevron (NYSE:CVX), Merck (NYSE:MRK) and Caterpillar on July 31.

-=Qualcomm (QCOM) reported earnings on Wed 6 Nov 19 (a/h)

Qualcomm beats by $0.07, beats on revs; guides Q1 EPS in-line, revs in-line

Reports Q4 (Sep) earnings of $0.78 per share, excluding non-recurring items, $0.07 better than the S&P Capital IQ Consensus of $0.71; revenues fell 17.2% year/year to $4.8 bln vs the $4.71 bln S&P Capital IQ Consensus.

Co issues in-line guidance for Q1, sees EPS of $0.80-0.90, excluding non-recurring items, vs. $0.84 S&P Capital IQ Consensus; sees Q1 revs of $4.4-5.2 bln vs. $4.95 bln S&P Capital IQ Consensus.

QTL revenues in the fourth quarter and fiscal 2018 included $100 mln and $600 mln, respectively, received under an interim agreement with Huawei. QTL revenues in fiscal 2019 included $450 mln paid under a second interim agreement with Huawei that concluded in the third quarter of fiscal 2019, and although negotiations continue, we have not reached a final agreement with Huawei. This represents a minimum, non-refundable amount and does not reflect the full amount of royalties due under the underlying license agreement.

-=Qualcomm (QCOM) : acquisition by Broadcom (AVGO) blocked by President Trump

Qualcomm receives Presidential order prohibiting Broadcom's (AVGO) proposed takeover of Qualcomm; AVGO issues statement 

• Qualcomm (QCOM) received a Presidential Order to immediately and permanently abandon the proposed takeover of Qualcomm by Broadcom (AVGO).
• Under the terms of the Presidential Order, all of Broadcom's director nominees are also disqualified from standing for election as directors of Qualcomm. Qualcomm was also ordered to reconvene its 2018 Annual Meeting of Stockholders on the earliest possible date, which based on the required 10-day notice period, is March 23, 2018. Stockholders of record on January 8, 2018 will be entitled to vote at the meeting.
• Broadcom is reviewing the Order. Broadcom strongly disagrees that its proposed acquisition of Qualcomm raises any national security concerns.

3/14/18: Broadcom (AVGO) withdraws and terminates offer to acquire Qualcomm 

"Although we are disappointed with this outcome, Broadcom will comply with the Order. Broadcom will continue to move forward with its redomiciliation process and will hold its Special Meeting of Stockholders as planned on March 23, 2018."

=Qualcomm (QCOM) rejects the unsolicited proposal by Broadcom (AVGO)

• November 6, 2017: Broadcom (AVGO) offers to acquire the rival chipmaker for $70 per share ($103 billion)
• November 13, 2017: Qualcomm rejected rival Broadcom Ltd's $103-billion takeover bid, saying the offer "dramatically" undervalued the U.S. company.

Qualcomm confirms its Board of Directors unanimously rejected the unsolicited proposal announced by Broadcom (AVGO) on November 6, 2017 

"The Board and Management are singularly focused on driving value for Qualcomm's shareholders. After a comprehensive review, conducted in consultation with our financial and legal advisors, the Board has concluded that Broadcom's proposal dramatically undervalues Qualcomm and comes with significant regulatory uncertainty. We are highly confident that the strategy Steve and his team are executing on provides far superior value to Qualcomm shareholders than the proposed offer."

"No company is better positioned in mobile, IoT, automotive, edge computing and networking within the semiconductor industry. We are confident in our ability to create significant additional value for our stockholders as we continue our growth in these attractive segments and lead the transition to 5G." 

=Qualcomm (QCOM) plunges on word of Apple's $1 billion lawsuit

Qualcomm's licensing business is a profit-making machine. Almost every time a smartphone is sold, the chipmaker gets a cut, because of its patents on communications standards.

Qualcomm is among the world's biggest tech hardware companies, and one-third of its revenue — or almost $8 billion in 2016 — comes from high-margin licenses. Over the past five years, the company has traded for an average of close to 18 times profit, compared with about 13 times for chipmaker Intel, according to FactSet.

But Apple's $1 billion lawsuit filed against Qualcomm on Friday shows the risks of that dependence, sending the stock down 13 percent Monday.

Apple claimed that Qualcomm has been "charging royalties for technologies they have nothing to do with." That followed a lawsuit from the U.S. Federal Trade Commission earlier last week and investigations launched in 2015 by South Korea and Taiwan, all questioning whether Qualcomm's charges are fair and reasonable.

"The licensing business is under attack on multiple fronts, from both governments and now Qualcomm's own customers," said Stacy Rasgon, an analyst at Bernstein Research who recommends holding the shares. "Nobody likes to pay royalties, but most held their noses and did. Now they seem less likely to pay those rates, and are fighting back."

=NXP Semi (NXPI) to be acquired by Qualcomm (QCOM) for $110/share

• UPDATE 26 July 2018:  On October 27, 2016, it was announced that Qualcomm would try to buy NXP, but because the Chinese merger authority did not approve the acquisition before the deadline set by Qualcomm, it was effectively canceled on 26 July 2018.
• The San Diego-based chipmaker announced the termination of the deal and a payment of $2 billion in termination fees to the Dutch company.  The breakdown came amid an escalating trade dispute between the U.S. and China over the massive bilateral trade imbalances, lack of access to the Chinese market, and China's apparent attempt to dominate global technology industries.
• The latest decision stands in contrast to the approval China gave to another deal involving a major semiconductor company -- Toshiba Memory of Japan -- a top flash memory maker which was taken over by a consortium led by U.S. buyout firm Bain Capital earlier this year. The deal faced tough scrutiny, but eventually received clearance, from the Chinese authorities.

NXP Semi to be acquired by Qualcomm (QCOM) for $110/share in cash which represents a total enterprise value of approximately $47 billion :

• Pursuant to the agreement, a subsidiary of Qualcomm will commence a tender offer to acquire all of the issued and outstanding common shares of NXP for $110.00 per share in cash, representing a total enterprise value of approximately $47 billion.
• The transaction is expected to close by the end of calendar 2017. 
• Qualcomm intends to fund the transaction with cash on hand and new debt. The transaction is structured to enable tax efficient use of offshore cash flow to rapidly reduce leverage. Qualcomm is committed to maintaining its strong investment-grade credit ratings.
• The combined company is expected to have annual revenues of more than $30 billion, serviceable addressable markets of $138 billion in 2020 and leadership positions across mobile, automotive, IoT, security, RF and networking. The transaction has substantial strategic and financial benefits:
  • Complementary technology leadership in strategically important areas: The transaction combines leadership in general purpose and automotive grade processing, security, automotive safety sensors and RF; enabling more complete system solutions.
    • Mobile: A leader in mobile SoCs, 3G/4G modems and security.
    • Automotive: A leader in global automotive semiconductors, including ADAS, infotainment, safety systems, body and networking, powertrain and chassis, secure access, telematics and connectivity.
    • IoT and Security: A leader in broad-based microcontrollers, secure identification, mobile transactions, payment cards and transit; strength in application processors and connectivity systems.
    • Networking: A leader in network processors for wired and wireless communications and RF sub-segments, Wave-2 11ac/11ad, RF power and BTS systems.
  • Enhanced go-to-market capabilities to serve our customers: The combination of Qualcomm's and NXP's deep customer and ecosystem relationships and distribution channels enables the ability to deliver leading products and platforms at scale in mobile, automotive, IoT, industrial, security and networking.
  • Shared track record of innovation and commitment to operational discipline: Both companies have demonstrated a strong commitment to technology leadership and best-in-class product portfolios with focused investments in R&D. Qualcomm and NXP have both taken action to position themselves for profitable growth, while maintaining financial and operational discipline.
  • Substantial financial benefits: Qualcomm expects the transaction to be significantly accretive to non-GAAP EPS immediately upon close. Qualcomm expects to generate $500 million of annualized run-rate cost synergies within two years after the transaction closes. The transaction utilizes Qualcomm's strong balance sheet and will be efficiently financed with offshore cash and new debt. The transaction structure allows tax efficient use of offshore cash flow and enables Qualcomm to reduce leverage rapidly.

==Qualcomm (QCOM) is in discussions to buy NXP Semiconductors (NXPI)

If completed, a deal could be valued at more than $30 billion, given NXP’s market value of roughly $28 billion as of Wednesday’s market close. Talks are continuing and could still fall apart.

A union of Qualcomm and NXP would be the latest in an industry that has recently experienced big mergers. Earlier this year, SoftBank of Japan struck a takeover deal for ARM Holdings, a British chip designer, for $32 billion.

Last year, Avago Technologies bought Broadcom for $37 billion, while Intel paid nearly $17 billion for Altera.

NXP itself has been part of the trend as well. Less than two years ago, it bought a smaller peer, Freescale Semiconductor, for $11.8 billion to gain scale and negotiating leverage with customers like car companies and phone makers.

NXP, which has its headquarters in the Netherlands but trades on the Nasdaq, has become a major supplier of chips used in near-field communications, which lets phones interact wirelessly with equipment like payment terminals.

Buying NXP would add tremendous scale to Qualcomm, which designs and makes chips primarily for smartphones. Yet the semiconductor company faced pressure from an activist hedge fund last year over its plans to spur growth. It weighed, and later abandoned, a potential split of its businesses.

=Qualcomm (QCOM) reported earnings on Wed 20 Jul 2016 (a/h)

Qualcomm beats by $0.19, beats on revs; guides Q4 EPS in-line, revs in-line :

• Reports Q3 (Jun) earnings of $1.16 per share, $0.19 better than the Capital IQ Consensus of $0.97; revenues rose 2.9% year/year to $6 bln vs the $5.58 bln Capital IQ Consensus.
  • MSM chip shipments were 201 mln vs 225 mln in prior year; total reported device sales $62.6 bln vs. $60.4 bln in prior year.
• Co issues in-line guidance for Q4, sees EPS of $1.05-1.15 vs. $1.08 Capital IQ Consensus Estimate; sees Q4 revs of $5.4-6.2 bln vs. $5.73 bln Capital IQ Consensus Estimate.
  • Sees MSM chip shipments of 195-215 mln and total reported device sales of $57.0-65.0 bln.
• "We delivered strong results this quarter, with EPS well ahead of our guidance based on meaningful progress with licensees in China," said Steve Mollenkopf, CEO of Qualcomm Incorporated
• "Our chipset business is also benefiting from a strong new product ramp across tiers, particularly with fast growing OEMs in China. We are executing well on our strategic priorities, and we remain confident that our focused investments in 5G and other advanced technologies will create a strong foundation for long-term earnings growth."

=Qualcomm (QCOM) raises Q1 EPS guidance

** charts before guidance **





 ** charts after guidance **





Qualcomm (QCOM) just raised Q1 EPS guidance; co is seeing a stronger quarter relative to prior guidance as 3G/4G device ASPs and shipments are favorably impacting the licensing business, and benefits are being realized from cost actions throughout the Company.

Qualcomm believes current structure best positions itself following comprehensive review; raises Q1 EPS Guidance :

• Co's Board of Directors and mgmt, with the assistance of independent advisors, have completed a comprehensive review of the Company's corporate and financial structure. This review, driven by a Special Committee of the Board of Directors, addressed the benefits and challenges of the existing structure, as well as considered a wide range of alternatives for potentially enhancing stockholder value. Following the review, upon the unanimous recommendation of the Special Committee, the Board unanimously concluded that the Company's current corporate and financial structure best positions Qualcomm to maintain its technology leadership and product strength, so as to drive the greatest long-term stockholder value.
• Co now expects to be at or modestly above the high end of the non-GAAP earnings per share guidance range $0.80-0.90 for Q1 (vs. $0.87 consensus). The co expects to provide a comprehensive review of its results, an update on China licensing progress and its outlook on the January earnings call.

Qualcomm (QCOM) earnings on Wed 18 July 2012

 ** weekly **

Qualcomm Inc. (QCOM), the largest seller of mobile-phone semiconductors, gained in late trading after quarterly results showed consumers in emerging markets are trading up to next-generation handsets, lifting profitability.

- quarterly revenue and earnings missed Wall Street's targets and it pulled back on estimates for mobile device shipments in 2012