Monday, September 12, 2016

Today's must-read reports are for Qualcomm (QCOM), Priceline (PCLN) and Walgreens (WBA).

Shares of Qualcomm declined over the last trading session due to broader market concerns. But the analyst still likes the buy-rated stock for its leadership position in the global wireless baseband chipset market and its growing presence in related opportunities such as mobile computing and IoT. The company's new patent license agreements with Chinese smartphone makers should boost Qualcomm’s top line and also solidify its footing in the Chinese market. (You can read the full research report on Qualcomm here.)

Priceline’s shares also moved lower over the last trading session due to rate hike related concerns. However, the analyst remains optimistic about the buy-rated stock since its strong quarterly report has helped sustain the stock's positive momentum, which reflect the online travel vendor's impressive execution and strong growth in an otherwise tough macro environment. With almost 80% of its bookings coming from international markets, Priceline's guidance shows none of the issues that we saw with peers Expedia and tripAdvisor. (You can read the full research report on Priceline here.)

Walgreens’ shares were down by over 2% following the U.S. FTC’s update regarding the Walgreens store divestment, needed for the Rite Aid acquisition to be closed. The analyst still likes the stock since the proposed buyout of Rite Aid, should expand Walgreens Boots’ business realm in the U.S. over the long term. Walgreens continues to hold a strong cash position, which is evident from its increased cash flow reserve in the last-reported third quarter. (You can read the full research report on Walgreens here.)

Other noteworthy reports we are featuring today include American Airlines (AAL), Discovery Communications (DISCA) and Pepsi (PEP).

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You can find all of today's stock research reports here.

Mark Vickery

Senior Editor

Note: Sheraz Mian regularly provides earnings analysis on Zacks.com and appears frequently in the print and electronic media. His weekly earnings related articles include Earnings Trends and Earnings Preview. He also provides weekly commentary to Zacks Premium subscribers and manages the Zacks Focus List and Top 10 portfolios. If you want an email notification each time Sheraz publishes a new article, please click here.