Deutsche Bank’s Ross Seymore has been reviewing the impact of COVID-19 on the semiconductor industry, and it has become apparent that due to supply chain disruption and “eventual demand delay and destruction,” the sector as a whole will suffer in the near to mid-term. There are certain companies, though, that following the downturn, currently “yield an attractive risk/reward.” Qualcomm (QCOM) is among those.Qualcomm was one of the first companies to warn of the impending impact of the coronavirus. When in early February the chip giant widened the range of its EPS guidance due to the viral outbreak in China, the news spooked investors and triggered a sell off. Nonetheless, the 5-star analyst upgraded Qualcomm shares from Hold to Buy, while lowering the price target to $85 (from $96). Gains in the shape of 29% could be lining investors' pockets should the price target be achieved in the next 12 months. (To...
Crude oil futures jumped nearly 5% in early trading on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal in the next few days to end their oil price war. Brent crude futures rose 4%, or $1, to $25.74 as of 0118 GMT, after touching a high of $25.89. U.S. West Texas Intermediate (WTI) crude futures were up 3.7% or 75 cents, at $21.06, after hitting a high of $21.47....
Stock futures opened higher Wednesday evening, recovering some losses as investors braced for extended stay-in-place orders and widespread shutdowns to further batter the economy and corporate profitability....
