Qualcomm to Sell Logistics Unit for $800 Million (The Wall Street Journal)
Chip maker QUALCOMM, Inc. (NASDAQ:QCOM) said Friday it has agreed to sell its North and Latin American transportation and logistics business, Omnitracs Inc., to Vista Equity Partners for $800 million in cash. “The opportunity for fleet management and telematics is evolving rapidly, and we believe Omnitracs is well positioned to continue its leadership position as a stand-alone entity,” QUALCOMM, Inc. (NASDAQ:QCOM) Executive Vice President Derek Aberle said.
Lenovo Could Save Intel Corporation (INTC), Not BlackBerry Ltd (BBRY) (Insider Monkey)
For months, market commentators have been speculating that Lenovo could be interested in purchasing BlackBerry Ltd to jump-start its mobile strategy. With companies like Apple, Samsung, HTC, and Motorola dominating the market for smartphones in the US, Lenovo lacks a solid strategy when it comes to mobile devices — right?
Broadcom Corp. Receives Hold Rating from Goldman Sachs Group Inc. (BRCM) (Zolmax News)
Goldman Sachs Group Inc. restated their hold rating on shares of Broadcom Corporation (NASDAQ:BRCM) in a report issued on Wednesday, Stock Ratings Network reports. They currently have a $30.00 target price on the stock. Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets cut their price target on shares of Broadcom Corp. from $40.00 to $32.00 in a research note to investors on Wednesday. They now have an outperform rating on the stock. Separately, 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.
LTE Chips Away at Qualcomm’s CDMA Royalty (Light Reading)
Ever since Verizon Wireless laid out its timeline for single-mode LTE smartphones, investors have been concerned for one company that may not be as excited about the transition: QUALCOMM, Inc. (NASDAQ:QCOM). The chip giant, of course, gets a hefty royalty from 3G CDMA chip sales since it invented the technology in 1990. Verizon Wireless is its biggest customer, so losing its business will be a blow to the steady stream of fees it has collected ever since. It’s not a new concern for Qualcomm Inc. , but one that’s become heightened as Verizon has grown more confident that voice-over LTE will let it build LTE-only handsets in about a year. (See CTIA: Verizon Pushes for Single-Mode LTE.)
Intel organises campaigns to demystify tech, drive PC demand (Zeebiz)
Aiming to boost consumption of personal computing devices like PCs, tablets, chip maker Intel Corporation (NASDAQ:INTC) has launched extensive campaigns covering over 50 cities and about 4 million customers to educate people on technology. The US-based firm has launched a nationwide campaign to increase relevance and demand of personal computing devices and drive domestic adoption of technology by targeting consumers with the message of how a PC can change their life.