On Wednesday, Shares of QUALCOMM, Inc (NASDAQ:QCOM), gain 5.17% to $51.85.
Qualcomm Inc. said it reached a patent-licensing deal with Xiaomi Corp., one of China’s largest smartphone makers, a sign of progress in easing the chip maker’s struggles in the country, according to WSJ
The San Diego-based company’s stock jumped 5.6% to $52.03 in afternoon trading on Wednesday in response to the declaration.
Qualcomm gets more than half its profit from licensing patents, and customers in China accounted for more than half of total revenue during the fiscal year ended in September.WSJ added
The company on Nov. 4 cited delays in convincing Chinese handset makers to sign licensing agreements in projecting lower profit than predictable in its first fiscal quarter. Those bearish comments caused Qualcomm’s shares to fall 15% in the next trading session.
The deal with Xiaomi follows declarements of agreements with China’s Huawei Technologies Co., TCL Communication Technology Holdings Ltd and ZTE Corp. Qualcomm was in negotiations with Lenovo Group Ltd. as recently as last month, people familiar with the matter said. WSJ Report
Qualcomm Incorporated (NASDAQ:QCOM) is engaged in providing third-generation (3G), fourth-generation (4G) and next-generation wireless technologies. The Companys products comprise 2net, AllPlay, Brew, Gobi, Halo, HealthyCircles, Hy-Fi, IPQ, IZat, Pixtronix, Powerline, QChat, QLearn, Small Cells, Snapdragon, Vive, RaptorQ, Vuforia and WiPower. AllPlay assists manufacturers create devices and services.
Shares of Target Corporation (NYSE:TGT), declined -1.21% to $71.93, during its last trading session, after the retailer said it would pay $39 million to banks and credit unions that lost money due to its 2013 data breach.
The Minneapolis-based retailer will pay more than $20 million to a general settlement fund and more than $19 million to a separate recovery program, Bloomberg reports.
The Target data breach affected as many as 110 million people. Banks lost more than $200 million from expenses such as replacing credit cards, according to Bloomberg.
This settlement is a strong and important result for those financial institutions that sustained losses as a result of the Target data breach, providing compensation well beyond what the card brand networks offered, Charles Zimmerman, a lawyer for the banks and credit unions, told Bloomberg.
Target Corporation is engaged in providing everyday essentials and fashionable, and differentiated merchandise at discounted prices. The Company offers its products through stores, online or through mobile devices. The Company sells an assortment of general merchandise and food through its store and digital channels. Its general merchandise stores offer an edited food assortment, counting perishables, dry grocery, dairy and frozen items. Its urban format stores, CityTarget and TargetExpress, offer edited general merchandise and food assortments.
Finally, Och-Ziff Capital Administration Group LLC (NYSE:OZM), ended its last trade with -15.56% loss, and closed at $7.13.
Och-Ziff Capital Administration Group LLC (NYSE:OZM) declared that Dan Och, Chairman and Chief Executive Officer of Och-Ziff, is planned to present at the Goldman Sachs U.S. Financial Services Conference in New York on Tuesday, December 8, 2015 at 1:10 p.m. Eastern Time. Mr. Och will discuss the Companys business, which may comprise remarks about the investment performance and net capital flows of its funds, in addition to its strategy for growing and diversifying its assets under administration.
Och-Ziff Capital Administration Group LLC (NYSE:OZM) is a global institutional alternative asset manager. The Company provides asset administration services through its funds, which pursue a range of global investment opportunities. The Company offers customized solutions within and across its product platforms to assist its fund investors meet their investment objectives. The Company operates through two segments: the Och-Ziff Funds segment and real estate business.