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Author: traderhub8   |   Latest post: Wed, 16 Oct 2019, 11:05 AM

 

Phillip Capital Morning Note

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Qualcomm Inc won a major victory with a surprise settlement of its wide-ranging legal dispute with Apple Inc that includes a supply agreement paving the way for the iPhone to once again use Qualcomm modem chips. The settlement also incorporates a six-year patent license and a payment from Apple to Qualcomm, but the companies did not disclose the amount.

Intel Corp said on Tuesday it was exiting the 5G smartphone modem business, while assessing opportunities for 4G and 5G modems in PCs, internet of things devices and other data-centric devices.

International Business Machines (IBM) Corp reported a bigger-than-expected drop in first-quarter revenue on Tuesday, hurt by tapering demand for its latest mainframe computers and a stronger dollar.

Bank of America Corp. said the interest-rate boost that lifted first-quarter earnings is likely to fade over the rest of 2019. Net interest income will probably increase 3 percent for the year, down from 6 percent in 2018 and 5 percent in the first quarter, Chief Financial Officer Paul Donofrio said in a call with investors Tuesday.

A new integrated tourism development will be set up at the Jurong Lake District by 2026, in line with the Government’s strategy to "spread out its tourism offerings across different parts of Singapore". An expression of interest will be launched for the new development.

CWT Pte Ltd's parent - Hong Kong-listed CWT International - missed interest and fee payments to lenders of HK$63 million (S$10.9 million), triggering a cross default under a HK$1.4 billion loan facility. Outstanding amounts under the facility stands at HK$766 million.

Keppel-KBS US Reit on Tuesday declared a distribution per unit (DPU) of 1.5 US cents for the first quarter, 23 per cent higher than the forecasted 1.22 US cents.

Singapore Press Holdings (SPH) has added £133.7 million (S$236.5 million) worth of assets to its United Kingdom student accommodation portfolio, increasing it by 1,243 beds to 5,059 across 20 assets in 10 cities.

Circles.Life rolled out a fresh referral scheme on Tuesday that promises endless data to old fans and new sign-ups alike.

Source: SGX Masnet, Bloomberg, Channel NewsAsia, Reuters, The Business Times, PSR

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