Qualcomm (QCOM) NewsBite - QCOM Rises Despite BRCM Lawsuit
Wed. October 08, 2008; Posted: 10:15 AM
Oct 08, 2008 (Fresh Brewed Media via COMTEX) --
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PowerRating -- Qualcomm (NasdaqNM:
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PowerRating) opened at $38.32. So far today, the stock has hit a low of $38.32 and a high of $42.01. QCOM is now trading at $41.69, up $2.49 (6.35%). Over the last 52 weeks the stock has ranged from a low of $30.87 to a high of $56.88. Broadcom Corp. (BRCM) announced this morning that it has filed suit against QCOM charging that the company engaged in patent misuse. Despite this, shares of QCOM are rising this morning after the Federal Reserve cut interest rates by half a point. Technical indicators for the stock are neutral and S&P gives QCOM a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on QCOM the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 35 range.
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For full details on Broadcom Corp Cl A (BRCM)
click here. Broadcom Corp Cl A (BRCM) has Short Term PowerRatings of 4. Details on Broadcom Corp Cl A (BRCM) Short Term PowerRatings is available at
This Link.
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