Qualcomm Corp. (NASDAQ:QCOM): Piper Jaffray says Qualcomm reported solid third-quarter results but notes its guidance was significantly below consensus. Piper believes Qualcomm is facing many challenges amid decelerating growth and little leverage in the chip business; the firm raised its price target for shares to $70 from $66 and keeps a Neutral rating on the stock.
Costco Wholesale Corp. (NASDAQ:COST): RW Baird raised its price target on Costco to $138 from $125 based on comps which were ahead of expectations, traffic that has been consistently strong, and renewals that are at all-time highs; Costco shares are Outperform rated.
CBS Corp. (NYSE:CBS): RBC Capital notes that it’s likely that CBS’s earnings per share would have missed expectations if revenue from its Dexter deal with Netflix Inc. (NASDAQ:NFLX) wasn’t pulled into the third quarter; nevertheless, the firm doesn’t think the results indicate any secular weakness at CBS, and it keeps a Top Pick rating on the company.
Bed Bath & Beyond (NASDAQ:BBBY): Barclays said Bed Bath & Beyond’s comps are strong and may be as high as 4-4.5 percent, driven by home-related demand, targeted couponing, and easier comps; the firm maintains its above-Street estimates, and reiterates its Overweight rating on Bed Bath & Beyond.