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Here are Monday's top research calls, including upgrades of Monster Beverage and Qualcomm.
2015-07-28 05:50:45| Beverages - Topix.net
You can view the full analysis from the report here: ABC Ratings Report . was upgraded to buy from neutral by Sterne Agee, which set a $190 price target, saying Cigna's risk-reward profile exceptionally compelling given the announced merger with Anthem was started at outperform by Credit Suisse, which set a $22 price target, citing good assets and a challenging industry.
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Qualcomm will lay off 15% of its workforce, succumbs to cult of shareholder value
2015-07-23 20:37:22| Extremetech
Qualcomm had a mildly down quarter. In response, the CEO has kowtowed to activist investors, will fire 15% of employees, and vowed to investigate spinning Qualcomm's chip business off into its own business.
Qualcomm to cut costs, narrow focus in strategic review
2015-07-23 08:41:00| Telecompaper Headlines
(Telecompaper) Qualcomm announced plans to review its corporate structure and cut USD 1.4 billion in costs, as part of a deal with its activist shareholder Jana Partners. Qualcomm CEO Steve Mollenkopf said the agreed changes will lead to improved execution and financial and operating performance. The agreement with Jana will be filed with the SEC. The "right-sizing" project will see USD 1.4 billion in cost reductions by the end of fiscal 2016, including a USD 300 million reduction in annual share-based compensation. Executive compensation will be further aligned with performance, including returns on investment, and Qualcomm agreed to reduce the average tenure of directors on its board and add new directors with additional skills. In addition, Qualcomm agreed to continue to return significant capital to shareholders, including at least 75 percent of free cash flow. It will also review alternatives to its current corporate and financial structure. Qualcomm confirmed earlier reports that this may include a separation of its businesses, as well as other options for returning capital and strategic and financial alternatives. The review should be completed by the end of the calendar year. The company also intends to focus its investments on core smartphone and adjacent growth opportunities.
Qualcomm to slash jobs and costs
2015-07-23 02:23:27| BBC News | Business | UK Edition
Qualcomm says it aims to cut costs and jobs and might restructure itself as it delivers a fresh profit warning in the face of rising competition.
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qualcomm
Qualcomm cuts jobs, confirms possible break-up
2015-07-23 02:00:00| Total Telecom industry news
Chip maker to shed 15% of its workforce as part of spending reduction plan, lowers guidance after weak Q3.
Tags: jobs
cuts
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breakup
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