Mengis Capital Management Has Trimmed Qualcomm Com (QCOM) Stake as Valuation Declined …

Mengis Capital Management Inc decreased its stake in Qualcomm Inc Com (QCOM) by 44.1% based on its latest 2019Q2 regulatory filing with the …

QUALCOMM Incorporated (NASDAQ:QCOM) Logo

Mengis Capital Management Inc decreased its stake in Qualcomm Inc Com (QCOM) by 44.1% based on its latest 2019Q2 regulatory filing with the SEC. Mengis Capital Management Inc sold 49,427 shares as the company’s stock declined 15.29% . The institutional investor held 62,657 shares of the radio and television broadcasting and communications equipment company at the end of 2019Q2, valued at $4.77M, down from 112,084 at the end of the previous reported quarter. Mengis Capital Management Inc who had been investing in Qualcomm Inc Com for a number of months, seems to be less bullish one the $95.32 billion market cap company. The stock decreased 0.85% or $0.67 during the last trading session, reaching $78.41. About 1.57 million shares traded. QUALCOMM Incorporated (NASDAQ:QCOM) has risen 17.92% since September 14, 2018 and is uptrending. It has outperformed by 17.92% the S&P500. Some Historical QCOM News: 16/04/2018 – Martin Soong: Qualcomm to refile China antitrust application for $44 billion NXP takeover; 06/03/2018 – Qualcomm’s Spending Buys the Right Friends; 05/03/2018 – Broadcom Reiterates Qualcomm Did Not Inform Its Own Stockholders or Broadcom of Its Secret, Voluntary Unilateral Request Filed on Jan 29, 2018; 13/03/2018 – In U.S.-China Tech Rivalry, Whose Side Is Qualcomm On?; 13/03/2018 – QUALCOMM: BROADCOM MUST PERMANENTLY ABANDON ATTEMPT TO BUY QCOM; 19/04/2018 – QUALCOMM & NXP AGREE TO WITHDRAW & REFILE APPLICATION IN CHINA; 16/03/2018 – NEW: Qualcomm board is meeting now and discussing fate of former CEO, chairman and current board member Paul Jacobs, Dow Jones reports; Jacobs indicated interest to Qualcomm’s board about taking the firm private, sources told CNBC; 14/05/2018 – In concession, Trump will help China’s ZTE ‘get back into business’; 16/03/2018 – Qualcomm Director Paul Jacobs will not be re-nominated to board; 18/04/2018 – @JimCramer’s lightning round: Qualcomm needs to resolve its slew of issues

Meeder Asset Management Inc decreased its stake in Seattle Genetics Inc (SGEN) by 99.52% based on its latest 2019Q2 regulatory filing with the SEC. Meeder Asset Management Inc sold 5,342 shares as the company’s stock rose 13.00% . The institutional investor held 26 shares of the health care company at the end of 2019Q2, valued at $2,000, down from 5,368 at the end of the previous reported quarter. Meeder Asset Management Inc who had been investing in Seattle Genetics Inc for a number of months, seems to be less bullish one the $11.42 billion market cap company. The stock decreased 0.35% or $0.25 during the last trading session, reaching $70.63. About 483,288 shares traded. Seattle Genetics, Inc. (NASDAQ:SGEN) has risen 8.86% since September 14, 2018 and is uptrending. It has outperformed by 8.86% the S&P500. Some Historical SGEN News: 17/05/2018 – Seattle Genetics Announces Data Presentations at 2018 ASCO Annual Meeting; 05/04/2018 – Seattle Genetics to Host Conference Call and Webcast Discussion of First Quarter Financial Results on April 26, 2018; 09/03/2018 – Seattle Genetics Completes Acquisition Of Cascadian Therapeutics; 26/04/2018 – Seattle Genetics Had Seen 2018 R&D Costs $460M-$500M; 20/03/2018 – SEATTLE GENETICS INC – FDA ALSO GRANTED PRIORITY REVIEW FOR SUPPLEMENTAL BIOLOGICS LICENSE APPLICATION FOR ADCETRIS; 26/04/2018 – SEATTLE GENETICS INC – ECHELON-2 DATA EXPECTED IN 2018; 09/03/2018 – SEATTLE GENETICS: CASCADIAN THERAPEUTICS TENDER OFFER COMPLETE; 16/04/2018 – CELLDEX THERAPEUTICS INC – GLEMBATUMUMAB VEDOTIN SAFETY PROFILE WAS CONSISTENT WITH PRIOR EXPERIENCE; 26/04/2018 – Seattle Genetics 1Q Loss $111.7M; 26/03/2018 – ASTELLAS & SEATTLE GENETICS GET BREAKTHROUGH DESIGNATION FOR EN

More notable recent Seattle Genetics, Inc. (NASDAQ:SGEN) news were published by: Seekingalpha.com which released: “New chief commercial officer at Seattle Genetics – Seeking Alpha” on May 21, 2019, also Finance.Yahoo.com with their article: “The Week Ahead In Biotech: Conference Presentations, IPO News Flow Take The Spotlight – Yahoo Finance” published on September 08, 2019, Seekingalpha.com published: “Seattle Genetics Q3 top line up 25% – Seeking Alpha” on October 25, 2018. More interesting news about Seattle Genetics, Inc. (NASDAQ:SGEN) were released by: Benzinga.com and their article: “10 Biggest Price Target Changes For Thursday – Benzinga” published on September 12, 2019 as well as Nasdaq.com‘s news article titled: “After-Hours Earnings Report for July 16, 2019 : CSX, CTAS, UAL, FNF, SGEN, PNFP, IBKR, HWC, FULT, HOPE, UBNK – Nasdaq” with publication date: July 16, 2019.

Investors sentiment decreased to 0.87 in 2019 Q2. Its down 0.67, from 1.54 in 2019Q1. It dropped, as 30 investors sold SGEN shares while 93 reduced holdings. 27 funds opened positions while 80 raised stakes. 156.77 million shares or 0.53% less from 157.61 million shares in 2019Q1 were reported. The Texas-based Twin Tree Ltd Partnership has invested 0% in Seattle Genetics, Inc. (NASDAQ:SGEN). Next Fincl Group Inc has 0% invested in Seattle Genetics, Inc. (NASDAQ:SGEN). Great Lakes Advsrs Ltd Company has 177,688 shares for 0.27% of their portfolio. Nuveen Asset Mngmt Ltd Limited Liability Company owns 546,315 shares. Landscape Mngmt holds 0.04% or 7,535 shares. Creative Planning holds 16,596 shares. Mirae Asset Global Invests Co Ltd reported 0% in Seattle Genetics, Inc. (NASDAQ:SGEN). Asset Mgmt One Limited invested in 0.04% or 128,999 shares. Employees Retirement Of Ohio owns 38,062 shares. Paloma Ptnrs has invested 0.01% in Seattle Genetics, Inc. (NASDAQ:SGEN). Tradewinds Cap Mgmt Limited Co holds 0.03% or 972 shares. Csat Invest Advisory Ltd Partnership, Michigan-based fund reported 391 shares. 1,500 are owned by Quantbot Techs L P. Swiss Bancshares invested in 0.03% or 366,400 shares. Pictet Asset Management Limited reported 554,163 shares stake.

Analysts await Seattle Genetics, Inc. (NASDAQ:SGEN) to report earnings on October, 24. They expect $-0.37 EPS, down 37.04% or $0.10 from last year’s $-0.27 per share. After $-0.24 actual EPS reported by Seattle Genetics, Inc. for the previous quarter, Wall Street now forecasts 54.17% negative EPS growth.

Meeder Asset Management Inc, which manages about $3.85 billion and $1.43B US Long portfolio, upped its stake in Ishares Msci Eafe Small (SCZ) by 8,965 shares to 27,123 shares, valued at $1.56M in 2019Q2, according to the filing. It also increased its holding in Ally Financial Inc (NYSE:ALLY) by 44,171 shares in the quarter, for a total of 130,196 shares, and has risen its stake in Costco Wholesale Corp (NASDAQ:COST).

Analysts await QUALCOMM Incorporated (NASDAQ:QCOM) to report earnings on November, 6. They expect $0.55 EPS, down 27.63% or $0.21 from last year’s $0.76 per share. QCOM’s profit will be $668.61 million for 35.64 P/E if the $0.55 EPS becomes a reality. After $0.64 actual EPS reported by QUALCOMM Incorporated for the previous quarter, Wall Street now forecasts -14.06% negative EPS growth.

More notable recent QUALCOMM Incorporated (NASDAQ:QCOM) news were published by: Nasdaq.com which released: “Noteworthy Thursday Option Activity: RTN, QCOM, V – Nasdaq” on September 05, 2019, also Nasdaq.com with their article: “Will Lower Revenues Hurt Qualcomm’s (QCOM) Q3 Earnings? – Nasdaq” published on July 29, 2019, Finance.Yahoo.com published: “Morgan Stanley Remains Bullish On Qualcomm, But Sees Uncertainty With China, CFO Search – Yahoo Finance” on August 26, 2019. More interesting news about QUALCOMM Incorporated (NASDAQ:QCOM) were released by: Nasdaq.com and their article: “Notable ETF Inflow Detected – QQQ, TXN, QCOM, MU – Nasdaq” published on August 21, 2019 as well as Nasdaq.com‘s news article titled: “Qualcomm (QCOM) Stock Moves -0.83%: What You Should Know – Nasdaq” with publication date: June 25, 2019.

Seattle Genetics, Inc. (NASDAQ:SGEN) Institutional Positions Chart

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Is China Finally Easing Up on Cryptocurrencies?

… according to experts, the establishment is beginning to see the benefits of mainstream coins like bitcoin, Ethereum, Litecoin, EOS and bitcoin cash.

It looks like some people (or entities) can change their minds after all. Despite a mixed relationship with cryptocurrency in the past, the People’s Bank of China (PBC) appears to finally be easing up to it.

Is China Becoming “Friendlier?”

As China’s central bank, the financial institution is looking to release its own digital currency in the future. This is not the same digital currency that China had initially announced weeks ago as a means of combating Libra. This would be an entirely separate entity, as according to experts, the establishment is beginning to see the benefits of mainstream coins like bitcoin, Ethereum, Litecoin, EOS and bitcoin cash.

This should come as relatively surprising news given that China has not always been kind (or fair) to digital currencies. The country has initiated a full ban on initial coin offerings (ICOs) and foreign exchanges and is even considering a full ban of cryptocurrency mining, though the country has been slow to act on this.

Kevin Sekniqi, co-founder and chief protocol architect at AVA Labs, says:

China’s foray into digitizing the yuan is a key milestone in changing how money is represented, stored and moved. Global sovereign level adoption of digitized assets is a testament to how transformative and impactful decentralized ledger networks have become… Coupled with the fact that China has completely adopted digital payment technologies, we can hope that a digital currency issued by the PBOC will further augment China’s ability to build many new financial primitives.

Dave Hodgson, director and co-founder of NEM Ventures, seems to agree with Sekniqi, though he’s critical of the centralized nature of the bank’s new digital currency, commenting that this goes against everything crypto is all about. He states:

It’s positive to see the Chinese Central Bank engaging with digital financial services and moving towards a better user experience for its citizens, but the proposed approached is still a centralized system, run by a national government… This wouldn’t be considered a decentralized cryptocurrency and in the People’s Bank of China’s words, ‘It is to protect our monetary sovereignty’ – a pseudonym for control over currency… I believe that this move will likely disrupt other digital currencies in China, such as WeChat and Alipay. While other governments may take note and follow suit, this currency doesn’t appear to be cross-border and is centrally controlled, which makes it a different proposition to cryptocurrency altogether.

Many Banks Will Do the Same Thing

Tomer Afek, CEO and co-founder of Spacemesh, says that other banks are likely to copy the work of China’s Central Bank, which could lead to a world of multiple cryptocurrencies:

Cryptocurrencies are a necessary evolution – and revolution…I envision a world where multiple cryptocurrencies exist, each one serving a different need. The central banks will become another set of competitors and service providers in this system.

Tags: china, China Central Bank, cryptocurrency

Bobby Lee Believes Bitcoin Will Hit $200K In Cycles To Come

… China’s quest affected his crypto exchange, BTCC, Lee was confident that bitcoin’s price could not be brought down. Not even by Satoshi Nakamoto, …
BTC At $11k, Hear From Industry Leaders On What's Next For Bitcoin: Exclusive

Bobby Lee, the founder of China’s first cryptocurrency exchange, assures the community that BTC will hit $200K. In his words, bitcoin will see more “boom and bust” days, and in one of those, the crypto asset will make its way to the $200K mark.

Bitcoin Will Hit $200K Someday

What has kept the faith among crypto holders this long is the fact that bitcoin will be worth a fortune someday. A couple of analysts in the past have given their views on the direction of bitcoin, some giving short-term and others predicting long-term.

Bobby Lee joins these growing list of enthusiastic analysts as he speaks in an interview with Yahoo! Finance recently. In his opinion, there was no reason for people to feel “doom and gloom” as he says there will be many of such to come. In his words, Lee says;

“We are in one of many, many cycles to come. Any cycle will take us to higher and higher heights. I’m quite confident sitting on my bitcoin investment that in a very short amount of time we’ll exceed $20,000 and go to $50,000, $100,000, even $200,000.”

He further added, “When I say a short time, I don’t mean minutes or hours, I mean maybe months, if not a few years.”

Bobby Lee is Certain That Bitcoin’s Price Cannot Crash

Sometime in 2017, while speaking to a group of audience, Bobby Lee exposed China’s secret plan to tank bitcoin’s price. This was the era when China banned ICOs and later, cryptocurrency exchanges in the country.

Though China’s quest affected his crypto exchange, BTCC, Lee was confident that bitcoin’s price could not be brought down. Not even by Satoshi Nakamoto, he says.

What Lee’s Been Up To

Since Lee sold BTCC, he’s spent most of his time “giving speeches, traveling, taking some vacation, and spending time with family,” he says.

However, he’s also found some interesting to do; making secure unhackable hardware wallets. This idea, he reveals, was born as people came to him to store their bitcoin investments for them.

The best way he thought, would be to come up with something super easy to use and also which will keep their crypto assets secure.

What’s Your Thought On This?, Let Us Know In the Comment Section Below.


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China’s PBC Is Warming Up To Digital Currencies — Good News For Bitcoin, ETH, XRP, and LTC

That may come as a big surprise to some. Back in 2017, China banned Initial Coin Offerings (ICOs), and stopped direct Bitcoin-yuan trading, crushing …

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China’s Central Bank, the People’s Bank of China (PBC), is planning to introduce its own digital currency.

That’s according to an article published in Globaltimes last week, which says that the PBC applied for 74 patents involved with digital currencies to the National Intellectual Property Administration, in order to speed up the development of a legal digital currency.

That may come as a big surprise to some. Back in 2017, China banned Initial Coin Offerings (ICOs), and stopped direct Bitcoin-yuan trading, crushing cryptocurrency markets.

Now, cryptocurrency experts see PBC’s efforts to introduce its own digital currency as a recognition of the many advantages cryptocurrencies have over traditional currencies, and therefore, consider those efforts to be good news for major cryptocurrencies like BTC,ETH, XRP, and LTC.

Kevin Sekniqi, Co-Founder and Chief Protocol Architect at AVA Labs, is one of these experts.

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“China’s foray into digitizing the yuan is a key milestone in changing how money is represented, stored, and moved,he says. “Global, sovereign level adoption of digitized assets is a testament to how transformative and impactful decentralized ledger networks have become.”

Meanwhile, he sees PBC’s move as a source of further financial innovation. “Coupled with the fact that China has completely adopted digital payment technologies, we can hope that a digital currency issued by the PBOC will further augment China’s ability to build many new financial primitives,” he says.

Dave Hodgson, Director and Co-Founder ofNEM Ventures, agrees. “It’s positive to see the Chinese Central Bank engaging with digital financial services and moving towards a better user experience for its citizens,” he says.

Still, he points to the centralized nature of PBC’ proposed currency as a limiting factor.

“The proposed approach is still a centralized system, run by a national government,” he says. “As a result, this wouldn’t be considered a decentralized cryptocurrency and in the People’s Bank of China’s words, ‘It is to protect our monetary sovereignty’ – a pseudonym for control over currency. “

While Hodgson sees the new currency competing with China’s other digital currency, he doesn’t see it competing with major cryptocurrencies. “I believe that this move will likely disrupt other digital currencies in China, such as WeChat and Alipay,” he says. “While other governments may take note and follow suit, this currency doesn’t appear to be cross-border and is centrally controlled, which makes it a different proposition to cryptocurrency altogether.”

Pradeep Goel, CEO of Solve.Care, sees central bank-issued digital currencies as supplementing major cryptocurrencies, too. “The uses of digital currencies have significant potential and known benefits, and these advantages are compelling enough to merit the careful adoption of these currencies,” he says. “Whether the private sector leads and central banks follow, or whether the central bank leads and the private sector follows, will vary by country. For example, in Sweden, the central bank is leading the way with the introduction of an e-krona.”

And Tomer Afek, CEO and Co-Founder of Spacemesh, sees other central banks following through with their own digital currencies. “It’s a certainty that other central banks will follow China’s lead; the writing’s on the wall. Currency is already well on its way to becoming fully digitized, and cryptocurrencies are a necessary evolution – and revolution – of that process,” says Afek. “States will inevitably want to ride the wave, hoping to get ahead of its potential to shake up the status quo.

That could create a world of multiple cryptocurrencies.

“This is only the beginning for cryptocurrencies, and they’ve already proven their ability to capture the value that has been omitted by the traditional monetary system,” he says. “I envision a world where multiple cryptocurrencies exist, each one serving a different need. The central banks will just become another set of competitors and service providers in this system.”

Still, the central banks will always have the upper hand, ready to trash decentralized cryptocurrencies should they threaten their monopoly of creating money, as discussed in previous pieces here.

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Cryptocurrency Aids Money Transfers for Constricted China

Those following cryptocurrency space are aware that financial institutions and banks in China are prohibited from dealing in digital currency. However …

Those following cryptocurrency space are aware that financial institutions and banks in China are prohibited from dealing in digital currency. However, digital currencies are not out-and-out illegal in the country. Let alone the crypto space; even the traditional fiat transfers are not free of governmental restrictions. Then there are global trade wars along with stringent banking regulations that add to money transfer woes of the Chinese nationals. In these circumstances, cryptocurrency somewhat serves as a breeze.

Though Bitcoin has what we can call an uncertain legal position in China, the nationals are discovering newer ways to utilize cryptocurrency channels to make things a bit easier.

The crypto situation in China

When it comes to legal stature of cryptocurrency in China, there are plenty of misconceptions initiating series of debates. All of it aggravated even more post the numerous government bans that took place in the year 2017. Not only people were barred from buying, selling, or trading virtual currencies, but bitcoin exchanges were also made to shut down back then. The authorities also banned online access to foreign exchanges like Coinbase through the nation’s Great Firewall.

The current scenario, however, doesn’t consider crypto as illegal. Instead, it is observed as a property under the nation’s law although there are certain things and crypto-related activities that fall under the illegal zone in China, they are:

  • ICOs
  • Crypto’s non-OTC exchange
  • Brokerage services of crypto
  • Dealing in Bitcoin by banks
  • Exchanges allowing purchase & sales of crypto

In simpler words, any transaction which connects government’s fiat, such as yuan, with crypto directly is forbidden. April 2019 also saw a proposal asking ban on mining activity, the action for which is not taken.

The gray area

In the middle of such limitations, there is a presence of a legal gray zone of OTC trading. It is largely facilitated by VPNs, offshore exchanges, as well as stablecoins such as Tether’s USDT. Moreover, crypto exchanges such as Huobi makes it possible for people to continue trading by operating as the OTC front. Once traders connect through Huobi’s platform, the settlement is done via popular payments and messaging applications like Wechat.

While the authorities are continuing the crypto crackdown, China is also reportedly planning to come out with its very own centralized asset soon. It is said to be pretty similar to a digital yuan.

Fiat restrictions & their evasion with crypto

It is not just crypto that is regulated heavily in China; there are stringent regulations over conventional fiat transactions too. The people in China are not allowed to perform international transfers exceeding 50K dollars per day. On the other hand, expats technically don’t have such limitations on money transfers, but they need to prove the legality of their income to do so. That in itself is an extremely tough task.

Despite heavy restrictions and their strong consequences, people are still advocating for economic freedom and resorting to crypto usage. After all, amidst the tight financial regulations, Bitcoin seems too convenient to not use. The fact that offshore exchanges can be accessed through VPNs also makes it all the more of a good option.

Furthermore, VPNs can also be used by the resident Chinese population for accessing p2p OTC trading websites such as Local.Bitcoin.com. It allows them to purchase and sell BCH, as well as fiat money, through varied payment channels. The trading volume on such sites also remains steady, indicating that crypto is capable of finding its way regardless of restrictions.

As per reports, many traders in China are dominantly using Tether’s stablecoin USDT nowadays. If that was not all, Tether Holdings has unveiled CNHT, a Chinese yuan stablecoin, to cash in on the increasing interest.

Technology making a difference

The innovation in the technological front has somewhat made the outdated legacy finance practices obsolete. Thanks to the emerging techniques and tools like VPNs, chat applications, and protocols for cryptocurrency transfers, crypto is undergoing expansion regardless of barriers. It is providing users with an affordable and feasible financial solution, not just in China but across the globe.

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