Wall Street Takeaways: Applied Materials (AMAT), AT&T Inc. (T), Banco Bradesco (BBD)

Although the slowdown scare in the semiconductor industry has caught with many chipmakers, analysts hold a different opinion for Applied Materials, Inc. (NASDAQ:AMAT). Wall Street on the average considers Applied Materials, Inc. (NASDAQ:AMAT) as a “Buy” and it carries average target price of $24.36. Bank of America Corp (NYSE:BAC), is one of the notable firms that have recently weighed in on the stock. The firm upgraded AMAT to “Buy” from “Neutral” and also set $25 price target on it.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) have gained more than 18% so far this year.

Applied Materials, Inc. (NASDAQ:AMAT) recently received an order for semiconductor equipment from Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM). The value of the order was put at T$854.8 million (US$28.14 million).

AT&T Inc. (NYSE:T) and Verizon Communications Inc (NYSE:VZ) are not allowing easy use of the so-called universal SIM from Apple Inc. (NASDAQ:AAPL). When it launched the new line of iPad devices, Apple also brought with it a SIM that allows users to easily-switch carrier networks without the need for a separate SIM. However, AT&T is now allowing SIM used on its network to be used on rival networks. Verizon is also requiring a separate SIM for use in the iPads.

AT&T Inc. (NYSE:T) confirmed that it was locking SIM used on its network but said that users could still get an extra universal SIM for use on the rival networks.

The universal SIM was intended, somehow, to allow users take advantage of the competitive plans on different carrier platforms.

The outcome of the Brazil presidential election is having an adverse effect on the stock of Banco Bradesco SA (ADR) (NYSE:BBD). The $56 billion Brazil-based bank was also recently cited as a “scheme” by a New York hedge fund manager. Jim Chanos said that the manner in which the stock move with every new poll news made it look more like a “scheme” than a stock.

Brazil reelected Dilma Rousseff, described as an anti-business leader, for a second term in the office.

About the Author

Sally joined the US Markets Daily News Team in April 2011 as a Multimedia Journalist.

Leave A Response