Editor’s Note: Related tickers: QUALCOMM, Inc. (NASDAQ:QCOM), Intel Corporation (NASDAQ:INTC), Broadcom Corporation (NASDAQ:BRCM), Goldman Sachs Group, Inc. (NYSE:GS), Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG)
Qualcomm to sell North and Latin American transportation and logistics business (Financial-News)
QUALCOMM, Inc. (NASDAQ:QCOM) said it has agreed to sell its subsidiary Omnitracs, Inc. to Vista Equity Partners. Subject to the terms and conditions of the definitive agreement, Vista will purchase Omnitracs for USD800m in cash. The acquisition will include all of Omnitracs operations in the United States, Canada and Latin America, including Sylectus and FleetRisk Advisors, which were acquired by Omnitracs in 2011. Barclays Capital Inc. is serving as financial advisor to Qualcomm. QUALCOMM, Inc. (NASDAQ:QCOM) is the world leader in 3G, 4G and next-generation wireless technologies.
Intel Corp. Given Buy Rating at TheStreet (INTC) (WatchListNews)
Intel Corporation (NASDAQ:INTC)‘s stock had its “buy” rating restated by analysts at TheStreet in a research report issued to clients and investors on Friday, AnalystRatings.Net reports. The analysts wrote, “Intel (INTC) has been reiterated by TheStreet Ratings as a buy with a ratings score of A-. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.”
Broadcom Corp. Price Target Lowered to $32.00 at FBR Capital Markets (BRCM) (WatchListNews)
Broadcom Corporation (NASDAQ:BRCM) had its price target reduced by FBR Capital Markets from $40.00 to $32.00 in a research note issued to investors on Wednesday, Analyst Ratings Network.com reports. The firm currently has an outperform rating on the stock. Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley cut their price target on shares of Broadcom Corporation (NASDAQ:BRCM) from $36.00 to $34.00 in a research note to investors on Tuesday, August 13th. They now have an overweight rating on the stock. Separately, analysts at Goldman Sachs Group, Inc. (NYSE:GS).
Qualcomm to sell Omnitracs Inc to Vista Equity Partners for USDS800m (MenaFN)
QUALCOMM, Inc. (NASDAQ:QCOM), a provider of next-generation wireless technologies, on Friday announced that it has signed a definitive agreement to sell Omnitracs Inc, its North and Latin American transportation and logistics business subsidiary, to Vista Equity Partners. Under the terms of the agreement Vista will pay a purchase price of USD800m in cash. This acquisition will include all of Omnitracs’ operations in the US, Canada and Latin America, including Sylectus and FleetRisk Advisors, which were acquired by Omnitracs in 2011. Upon completion of the acquisition, Omnitracs will become a standalone entity.