Amazon hits all-time high; Qualcomm upgrade; Costco gains on earnings beat
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Qualcomm (QCOM) – Mizuho upgraded the chip maker to buy from neutral and upped its price target to $75 per share. Mizuho’s bullish call follows reports that Qualcomm is in talks to acquire NXP Semiconductors (NXPI).
Costco (COST) – The warehouse club chain posted a jump in quarterly profit , driven by lower credit card fees from its new deal to accept Visa cards. Costco reported fiscal fourth quarter earnings per share of $1.77 on revenue of $35.73 billion. The company is planning to open 31 new stores over the next 12 months.
Amazon (AMZN) – Guggenheim initiated coverage on Amazon with a buy rating and a $950 price target, pushing shares to all-time highs. Guggenheim is the latest company to join a number of positive analyst reports about Amazon. The stock is up more than 23% since the start of the year.
Facebook (FB) – The social media giant is set to launch Facebook at Work on Oct. 10, according to reports from TechCrunch. The communication tool will be a platform designed for businesses and their employees.
Deutsche Bank (DB) – The German bank is rebounding after falling to record lows following reports that a number of hedge funds were cutting back their exposure to the lender. This comes on top of the $14 billion fine US regulators want Deutsche Bank to pay to settle a probe tied to mortgage-backed securities.
Salesforce (CRM) – The company is looking to block Microsoft’s (MSFT) $26.2 billion deal to buy LinkedIn (LNKD). Salesforce argues that Microsoft’s control over LinkedIn’s data would be anti-competitive.