Apple suppliers Skyworks, Qorvo get upgrades on 5G prospects
Mizuho Securities analyst Vijay Rakesh raises Skyworks Solutions (NASDAQ:SWKS) and Qorvo (NASDAQ:QRVO) to Buy from Neutral, as he sees “meaningful upside” for the companies due to tailwinds for 5G growth.
Skyworks gains 2.4% and Qorvo jumps 3.6% in premarket trading.
Lifts Skyworks price target to $132 from $90 and Qorvo’s to $125 from $80.
The two suppliers to Apple “should see a rebound in growth this year and next as “as 5G requires an incremental 50%-60% increase in the RF (radio frequency tech) content of handsets.”
Quant rating is Very Bullish for Qorvo and Neutral for Skyworks.
Nielsen acquires Precima to boost retail analytics
Nielsen (NLSN -0.3%) Global Connect has acquired Toronto-based Precima, a provider of retail and customer data applications and analytics, from Alliance Data Systems (ADS +1.1%).
Financial terms weren’t disclosed. It will be a wholly owned unit referred to as “Precima, a Nielsen company.”
Precima uses AI and machine learning to offer consumer loyalty and retail analytics, features expected to deepen Nielsen Global Connect’s portfolio of personalized and addressable pricing, promotion and assortment capabilities.
Trump administration wants to argue at Qualcomm’s FTC appeal
The Trump administration is asking to take part in legal arguments at Qualcomm’s (QCOM +0.9%) Feb. 13 appeals court hearing – backing the company’s attempt to overturn a ruling, and setting up an unusual internal antitrust fight in the administration.
Qualcomm is looking to reverse a decision that says it abuses its position in the cellphone chip market for outsize licensing fees. The Justice Dept. agrees with the chipmaker, saying the decision threatens to stifle competition and threaten national security.
But Qualcomm’s case is against the Federal Trade Commission. Backing from the Justice Dept. for Qualcomm pits the DOJ against the FTC in this matter.
DOJ has said that FTC isn’t objecting, as long as it has equal time.
Western Union expands bank account payout in China
Western Union (NYSE:WU) launches international money transfers paid out in real-time through Du Xiaoman Financial’s mobile app in China.
More than 150M Du Xiaoman Financial mobile app users can now route any money transfer received from across the world into their bank accounts, and receive funds in real-time.
Western Union says the expansion of the account payout in China further advances its ability to partner with a growing base of national and international tech leaders to enable international cross-border transfers.
Du Xiaoman Financial, formerly Baidu Financial, is a major provider of multiple online services, including online credit service, mobile wallet, online payment, and online wealth management services.
Ping An Insurance, Intel team up in innovation partnership
Ping An Insurance (OTCPK:PNGAY) and Intel (NASDAQ:INTC) agree to establish a joint laboratory and form a joint project team in areas of high-performance computing, including storage, network, cloud, artificial intelligence, and security.
Ping An says the partnership will bolster its cloud technologies as well as its AI-based services and solutions.
“We will further strengthen our data protection with Intel hardware-enabled security in finance and healthcare, two areas where it is so critical,” said Ping An Technology (Shenzhen) CEO Ericson Chan.
Intel will support an Ping An Technology’s cloud open ecosystem.
