logo
Plus   Neg
Share
Email

Stock Alert: Qualcomm Rises After It Settles Dispute With Huawei

Shares of semiconductor company Qualcomm Incorporated (QCOM) are up more than 11% Thursday morning after the company said it entered into a long-term patent agreement with Huawei, settling the long-time patent licensing dispute.

The stock touched a new high of $103.98 this morning.

Qualcomm expects to receive about $1.8 billion under the settlement agreement from Huawei in the quarter ending September.

Wednesday, Qualcomm reported third-quarter results, better than the Street view.

Earnings on an adjusted basis were $0.86, beating the average estimate of analysts polled by Thomson Reuters at $0.71.

Revenue for the quarter was $4.89 billion, better than the consensus estimate of $4.8 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amid the growing climate crisis, Walmart said it is raising its ambition to zero emissions by 2040, without the use of carbon offsets, across its global operations. The retail giant, along with the Walmart Foundation, also committed to help protect, manage or restore at least 50 million acres of land and one million square miles of ocean by 2030. The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020.
Follow RTT