Recoiled Stocks in Momentum: QUALCOMM (NASDAQ:QCOM), Precision Drilling (NYSE:PDS)

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) [Trend Analysis] runs in leading trade, it plunging -0.07% to traded at $68.47. The firm has price volatility of 1.48% for a week and 1.99% for a month. Its beta stands at 1.37 times. Sleeping giant, Qualcomm (QCOM) awakens with aim to crush Intel at its own game. Last Wednesday was historic for Qualcomm. In one day, the company jumped beyond its comfort zone of mobile chips and entered the PC and server markets.With the expansion, Qualcomm now has chips for most computing products.

It wants to outcompete even Intel, which dominates in PCs and servers but gave up on markets like smartphone CPUs earlier this year.Qualcomm on Wednesday reported its Centriq 2400 server chips, which started shipping to test consumers. Later that day, Microsoft revealed that first PCs based on Qualcomm’s Snapdragon 835 chip would come next year. The chip will also be used in high-end smartphones. Narrow down four to firm performance, its weekly performance was 3.18% and monthly performance was 4.07%. The stock price of QCOM is moving up from its 20 days moving average with 2.37% and isolated positively from 50 days moving average with 2.46%.

Several matter pinch shares of Precision Drilling Corporation (NYSE:PDS) [Trend Analysis], as shares moving down -1.89% to $5.72 with a share volume of 3.27 Million. Precision Drilling Corporation (NYSE:PDS) declared that it has entered into an contract to swap its Canadian Coil Tubing operations for Essential Energy Services’ service rig business. In addition to the swap of assets, Precision will make a cash payment of $12 million to Essential. The transaction is expected to close on December 16th, 2016.

Kevin Neveu, Precision’s President and Chief Executive Officer stated, “This is a strategic transaction to divest a business line in which Precision lacks scale to generate the returns we expect and follows similar Precision divestitures of our U.S. trucking and U.S. coil tubing businesses in 2014. The acquisition of Essential’s service rig business is a unique opportunity to expand our leading well service position within the Canadian market by adding the high quality assets and people of Essential’s service rig operations. We believe the combination has the opportunity to strengthen our existing business and create synergies. We look forward to welcoming the Essential service rig personnel to our team and continuing to provide High Performance, High Value services to our expanded base of consumers.” The stock is going forward its 52-week low with 135.39% and moving down from its 52-week high price with -5.92%. To have technical analysis views, liquidity ratio of a company was calculated 2.80 as evaluated with its debt to equity ratio of 1.02. The float short ratio was 7.34%, as compared to sentiment indicator; Short Ratio was 6.69.

 

About Richard Avery

He is a capital projects manager and process design engineer at a large-cap company. He has renowned MBA degree. Before joining SWR, he was a freelance writer for renounce tech websites. He is currently studying for CFP exam. Interests: Tech stocks, Economic Markets, Blue-chips.

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