Mid-Week Stock News On Comcast, Qualcomm, And More
Date
11/23/2024 6:41:55 AM
(MENAFN- Baystreet)
When a company plans to spin off its assets, it generally signals the underlying stock price is undervalued.
Although Comcast (CMCSA) trades at fair value with a P/E GAAP of 11.6 times, media reports of the firm selling its NBCUniversal cable TV Network are bullish. The firm said last month that it was evaluating this spinoff. If it happens, the company will have a separate entertainment and news asset that includes CNBC, Oxygen, E!, MSNBC, Syfy, and golf Channel.
CMCSA stock has strong profitability and momentum. Shares bottomed between July and September at around $38. This morning, CMCSA stock should open at around $43.50.
Qualcomm (QCOM) management hosted a shareholder meeting on Tuesday. At the annual event, executives said it could see up to $4 billion in PC-related revenue by 2029. The forecast is overly optimistic. While its chips offer better energy efficiency, Advanced Micro Devices (AMD) and Intel (INTC) both have more powerful solutions. In addition, Nvidia (NVDA) may enter the PC chip market. Still, Qualcomm typically under-promises and over-delivers.
Watch Dolby Laboratories (DLB) today. The firm posted Q4 non-GAAP earnings of $0.81. Revenue increased by 5% Y/Y to $305 million. DLB stock could rise by around 15% today.
MENAFN23112024000212011056ID1108917920
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.