On Monday, Shares of SeaDrill Limited (NYSE:SDRL), lost -9.76% to $8.04, hitting its lowest level, as the price of oil slid Monday.
Traders braced for softer demand amid an enhance in the number of active rigs and weak U.S. economic reports on construction spending and manufacturing.
U.S. crude was down $1.80, or 3.8 percent, to $45.32 US a barrel in afternoon trading in New York, the lowest price in more than four months. Benchmark U.S. crude has been declining since reaching a high this year of $61.43 a barrel on June 10. It’s down 15 per cent so far this year.
Seadrill Limited, an offshore drilling contractor, provides offshore drilling services to the oil and gas industry worldwide. The company operates through Floaters and Jack-up Rigs segments.
Shares of QUALCOMM Incorporated (NASDAQ:QCOM), inclined 0.06% to $64.43, during its last trading session.
QUALCOMM Incorporated and BRUSA Elektronik AG declared that they have reached a Wireless Electric Vehicle Charging (WEVC) patent license agreement. BRUSA, an automotive Tier 1 power electronics supplier, has licensed Qualcomm HaloTM patented inventions to commercialize WEVC systems for Plug-In Hybrid and Electric Vehicles (EVs). Under the terms of the agreement, Qualcomm granted to BRUSA a royalty-bearing patent license to develop, make and supply WEVC systems for certain automobile manufacturers.
Automobile manufacturers around the world have spotted the huge potential of wireless charging as it is user friendly. BRUSA Elektronik AG has been pioneering technology in this area with its “ICS” wireless charging system which can transfer power to vehicles safely and at high efficiency, eliminating the need for charging cables presently required by EVs. “We are excited about our license agreement with BRUSA; it expands and diversifies the Qualcomm Halo™ supplier network, giving automobile manufacturers another trusted source of our advanced inventions,” said Steve Pazol, vice-president & general manager wireless charging, Qualcomm Incorporated. “Qualcomm Halo™ licensees can bring to market highly efficient, fit-for-purpose, WEVC systems, which allow convenient charging and improve the EV driver’s user experience. We believe access to Qualcomm Halo™ technology is important to building WEVC systems that meet the needs of automotive OEMs and their end-customers, counting WEVC systems incorporating magnetics based on a circular coil structure.”
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services in China, South Korea, Taiwan, and the United States. The company operates through three segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Planned Initiatives (QSI).
Finally, Baidu, Inc. (NASDAQ:BIDU), ended its last trade with -2.04% loss, and closed at $169.14, as stock’s price target was cut to $200 from $230 at Oppenheimer which maintained its “outperform” rating.
The firm also lowered 2015 earnings estimates to $5.83 from $7.38 per share, with 2016 earnings estimates reduced to $6.76 from $9.80 per share.
Baidu is willing to bet $3.2 billion to garner part of a $99 billion opportunity in local advertising, the firm noted.
Baidu, Inc. provides Internet search services in China and internationally. It offers Chinese language search platform on its Baidu.com Website that enables users to find relevant information online, counting Web pages, news, images, documents, and multimedia files through links offered on its Website; and international products and services to users in other countries.
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