Intel (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM) while at the Consumer Electronics Show will fight for control of the mobile devices market. Qualcomm will try to squeeze Intel by showing off notebooks based on Qualcomm chips at the same time Intel will announce phones with its chips, renewing a push into Qualcomm?s market.
Radvision (NASDAQ:RVSN) reports better-than-expected preliminary fourth quarter results. Sales are $21.5 million-$22 million vs. consensus of $17.35 million. There was a loss of $0.18-$0.21 per share vs. consensus of a $0.31/share loss.
Investing Insights: Why Apple Will Never Dominate the Global Mobile Market.
Apple?s (NASDAQ:AAPL) price target is cut by Morgan Keegan to $513 from $530. The slash follows indications that iPad and Mac sales fell short of expectations in December. Morgan Keegan also lowers its generally accepted accounting principals earnings per share estimate for the latest quarter to $10.10 from $10.24.
Rambus (NASDAQ:RMBS) rose considerably premarket after raising fourth quarter revenue guidance to around $83 million. This was up from its prior forecast of $66 million-$71 million and consensus of $69 million.
Don?t Miss: Google May Disrupt the Cable Business Forever.
Intersil (NASDAQ:ISIL) has been dropped to a Sell rating by Goldman Sachs. The lockdown was in response to ?structural challenges?. Goldman also shot down Microchip Tech (NASDAQ:MCHP) because of its failure to grow its microcontroller share or earnings ahead of peers during the past two years. Another downgrade was given to SanDisk (NASDAQ:SNDK) and PMC-Sierra (NASDAQ:PMCS) moving both to Neutral, while raising Atmel (NASDAQ:ATML) and Altera (NASDAQ:ALTR) to Buy.
TripAdvisor (TRIP) makes gains after an upgrade from Bank of America (NYSE:BAC) to Buy from Underperform on valuation. Expectations are that the firm?s fourth quarter report will improve transparency as it stands on its own after a spinoff from Expedia.
Priceline.com (NASDAQ:PCLN) shot up. The announcement that Overstock.com (NASDAQ:OSTK) has selected the company to run its new travel website, called O.co Travel, is believed to be the reason.
Angie?s List (NASDAQ:ANGI) slid after a large host of analysts picked up coverage. Janney initiates coverage at Buy with a $19 price target. However, three other major firms start with Sector Perform or their equivalents, which is not too impressive given that Eric Savitz writes, ?the Street?s tendency is to stay bullish on their own merchandise.?
Investing Insights: Facebook May Be Biggest IPO of 2012.
To contact the reporter on this story: Tanya Harding at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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