Qualcomm Inc. was fined 997 million euros ($1.2 billion) by the European Union for paying Apple Inc. to shun rival chips in its iPhones.
The biggest maker of chips that help run smartphones “paid billions of U.S. dollars to a key customer, Apple, so that it would not buy from rivals,” EU Competition Commissioner Margrethe Vestager said in an emailed statement. “This meant that no rival could effectively challenge Qualcomm in this market, no matter how good their products were.”
Qualcomm violated antitrust rules by using incentive payments to Apple, one of its biggest customers, as well as price reductions to ensure exclusivity, the EU said. The company shut out rivals from the market for LTE baseband chipsets used in the 4G mobile phone standard for five years, it said.
The EU moves come as Qualcomm tries to fend off a $105 billion hostile takeover by rival Broadcom Ltd and wages war with Apple in numerous court cases around the world over patent licensing. Qualcomm rejected Broadcom’s offer last year, telling shareholders that the bid undervalued the company and "comes with significant regulatory uncertainty."
Top 5 Undervalued Stocks To Invest In 2019: iShares S&P Global Clean Energy Index Fund(ICLN)
Advisors' Opinion:- [By Scott Levine]
For those afraid of getting burned with the solar ETF, the iShares Global Clean Energy ETF (NASDAQ:ICLN) may be a more attractive option since the fund's stated objective is to "track the investment results of the S&P Global Clean Energy Index." The fund's 30 holdings represent global leaders in renewable energy, ranging from solar power to geothermal to waste-to-energy. Like the Invesco Solar ETF, the iShares Global Clean Energy ETF is not actively managed and carries a fairly low expense ratio of 0.47%. Distributions are made semiannually and currently offer a trailing-12-month yield of 2.34%.
Top 5 Undervalued Stocks To Invest In 2019: New Residential Investment Corp.(NRZ)
Advisors' Opinion:- [By Max Byerly]
Stifel Financial Corp lifted its holdings in New Residential Investment Corp (NYSE:NRZ) by 7.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 259,274 shares of the real estate investment trust’s stock after acquiring an additional 18,473 shares during the quarter. Stifel Financial Corp’s holdings in New Residential Investment were worth $4,263,000 as of its most recent SEC filing.
- [By Joseph Griffin]
Royal Bank of Canada boosted its stake in shares of New Residential Investment Corp (NYSE:NRZ) by 144.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 831,287 shares of the real estate investment trust’s stock after purchasing an additional 491,807 shares during the period. Royal Bank of Canada’s holdings in New Residential Investment were worth $13,675,000 at the end of the most recent quarter.
- [By ]
New Residential Investment Corp (NYSE: NRZ)
Officially classified as a mortgage real estate investment trust (REIT), NRZ is not typical of its category. The company focuses on investing in the mortgage servicing rights (MSR) portion of the actual mortgage. The monthly MSR is built into the mortgage payment and comes to roughly 30 basis points (0.003%) of the principal mortgage amount annually. NRZ owns the MSR, pays a third party 6 basis points (bps) to physically service the mortgage, and keeps the 24 bps excess. - [By Ethan Ryder]
Natixis Advisors L.P. reduced its position in shares of New Residential Investment Corp (NYSE:NRZ) by 23.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 235,486 shares of the real estate investment trust’s stock after selling 71,224 shares during the quarter. Natixis Advisors L.P. owned about 0.07% of New Residential Investment worth $3,874,000 as of its most recent filing with the Securities and Exchange Commission.
Top 5 Undervalued Stocks To Invest In 2019: Costamare Inc.(CMRE)
Advisors' Opinion:- [By Logan Wallace]
COSTAMARE Inc/SH (NYSE:CMRE) shares hit a new 52-week high during trading on Tuesday following a dividend announcement from the company. The stock traded as high as $8.15 and last traded at $8.10, with a volume of 15988 shares trading hands. The stock had previously closed at $7.98.
- [By Shane Hupp]
Get a free copy of the Zacks research report on COSTAMARE Inc/SH (CMRE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Rich Smith]
Shares of three big oceangoing container-shipping companies -- Triton International (NYSE:TRTN), Seaspan (NYSE:SSW), and Costamare (NYSE:CMRE) -- suffered huge losses in early trading Friday after Wells Fargo announced it was downgrading "the entire container complex," as StreetInsider.com put it.
- [By Logan Wallace]
COSTAMARE Inc/SH (NYSE:CMRE) has received an average recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $7.75.
Top 5 Undervalued Stocks To Invest In 2019: Jagged Peak Energy Inc. (JAG)
Advisors' Opinion:- [By Max Byerly]
ValuEngine cut shares of Jagged Peak Energy (NYSE:JAG) from a hold rating to a sell rating in a report issued on Friday morning.
A number of other brokerages have also issued reports on JAG. BMO Capital Markets set a $16.00 price objective on Jagged Peak Energy and gave the stock a buy rating in a report on Sunday, August 12th. Credit Suisse Group increased their price objective on Jagged Peak Energy from $15.00 to $16.00 and gave the stock a neutral rating in a report on Friday, August 10th. Jefferies Financial Group set a $13.00 price objective on Jagged Peak Energy and gave the stock a hold rating in a report on Wednesday, July 18th. Stifel Nicolaus increased their price objective on Jagged Peak Energy from $18.00 to $19.00 and gave the stock a buy rating in a report on Friday, August 10th. Finally, JPMorgan Chase & Co. decreased their price objective on Jagged Peak Energy from $17.00 to $15.00 and set an overweight rating for the company in a report on Tuesday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $16.17.
- [By Stephan Byrd]
Jagged Peak Energy (NYSE:JAG) had its target price increased by equities researchers at Credit Suisse Group from $15.00 to $16.00 in a report released on Friday. The brokerage presently has a “neutral” rating on the mining company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 10.34% from the stock’s previous close.
- [By Stephan Byrd]
Get a free copy of the Zacks research report on Jagged Peak Energy (JAG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Logan Wallace]
These are some of the media headlines that may have effected Accern’s scoring:
Get Jagged Peak Energy alerts: Jagged Peak Energy (JAG) Raised to “Hold” at Zacks Investment Research (americanbankingnews.com) Jagged Peak Energy (JAG) Upgraded to “Hold” by ValuEngine (americanbankingnews.com) Jagged Peak Energy (JAG) Set to Announce Earnings on Thursday (americanbankingnews.com) Insider Selling: Jagged Peak Energy Inc (JAG) CFO Sells 50,000 Shares of Stock (americanbankingnews.com) Jagged Peak Energy Inc (JAG) Given Consensus Recommendation of “Hold” by Analysts (americanbankingnews.com)Jagged Peak Energy stock opened at $14.25 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.22. Jagged Peak Energy has a 1-year low of $11.21 and a 1-year high of $16.55. The company has a market capitalization of $2,993.81, a P/E ratio of 54.81 and a beta of -1.13.
- [By Max Byerly]
Jagged Peak Energy (NYSE:JAG) has been assigned a $16.00 target price by equities researchers at BMO Capital Markets in a report released on Sunday. The firm currently has a “buy” rating on the mining company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 11.50% from the stock’s current price.
- [By Joseph Griffin]
ValuEngine upgraded shares of Jagged Peak Energy (NYSE:JAG) from a sell rating to a hold rating in a research note published on Thursday morning.
Several other brokerages have also recently issued reports on JAG. Zacks Investment Research raised Jagged Peak Energy from a sell rating to a hold rating in a research report on Saturday, May 5th. Jefferies Financial Group set a $13.00 target price on Jagged Peak Energy and gave the company a hold rating in a research report on Wednesday. Stifel Nicolaus set a $19.00 target price on Jagged Peak Energy and gave the company a buy rating in a research report on Wednesday, March 28th. JPMorgan Chase & Co. cut their target price on Jagged Peak Energy from $17.00 to $15.00 and set an overweight rating on the stock in a research report on Tuesday, May 22nd. Finally, Citigroup cut their target price on Jagged Peak Energy from $21.00 to $16.00 and set a buy rating on the stock in a research report on Tuesday, March 27th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Jagged Peak Energy currently has an average rating of Hold and a consensus price target of $16.12.
Top 5 Undervalued Stocks To Invest In 2019: Allison Transmission Holdings, Inc.(ALSN)
Advisors' Opinion:- [By Joseph Griffin]
ARP Americas LP lowered its stake in shares of Allison Transmission (NYSE:ALSN) by 8.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,497 shares of the auto parts company’s stock after selling 1,400 shares during the quarter. ARP Americas LP’s holdings in Allison Transmission were worth $566,000 at the end of the most recent quarter.
- [By Stephan Byrd]
News coverage about Allison Transmission (NYSE:ALSN) has trended somewhat positive this week, according to Accern. Accern scores the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Allison Transmission earned a daily sentiment score of 0.09 on Accern’s scale. Accern also gave news articles about the auto parts company an impact score of 47.3158489483377 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
- [By Ethan Ryder]
Allison Transmission (NYSE:ALSN) announced a quarterly dividend on Thursday, May 10th, Zacks reports. Stockholders of record on Monday, May 21st will be given a dividend of 0.15 per share by the auto parts company on Thursday, May 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, May 18th.
- [By Ethan Ryder]
Allison Transmission Holdings Inc (NYSE:ALSN) – Analysts at Oppenheimer issued their Q1 2019 earnings per share (EPS) estimates for shares of Allison Transmission in a research report issued to clients and investors on Monday, February 25th. Oppenheimer analyst I. Zaffino expects that the auto parts company will post earnings per share of $1.10 for the quarter. Oppenheimer also issued estimates for Allison Transmission’s Q2 2019 earnings at $1.14 EPS, Q3 2019 earnings at $1.11 EPS and FY2020 earnings at $4.11 EPS.
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