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Technology Stocks : The New Qualcomm - a S&P500 company

QCOM 170.65

+1.5%

Dec 2 3:59 PM EST

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To: Caxton Rhodes who wrote (2069)	10/6/1999 11:16:00 PM
From: Ibexx	of 13582

Caxton and thread, From Reuters Qualcomm up on news of regulatory ok on phones SAN DIEGO, Oct. 6 (Reuters) - Shares in Qualcomm Inc. QCOM.O shot up nearly 10 percent Wednesday after the maker of satellite-based telephones said regulators had approved their use on four continents. Qualcomm shares were up $11.75 at $205.50 in early afternoon trading on the Nasdaq Stock Exchange Wednesday. Qualcomm said its handheld and fixed telephones, designed for use on the Globalstar L.P. satellite-based communications system, have won approvals from the United States Federal Communications Commission and the British Approvals Board for Telecommunications, European Community, which regulates telecommunications in the European Union. Qualcomm also received approval from Industry Canada, with pending applications in both Brazil and South Korea. Qualcomm said it also completed registration of its Globalstar satellite phone products under the International Telecommunications Union. This is a critical step in ensuring the products will be recognized by more than 130 countries and across the borders of countries participating in the union. "Achieving these milestones is a significant step for both Qualcomm and Globalstar L.P.," said Jerry Beckwith, president, Qualcomm Wireless Systems. "These approvals bring us closer to worldwide acceptance, an important milestone for the Globalstar system." Globalstar, led by founding partner Loral Space & Communications, is a partnership of the world's leading telecommunications service providers and equipment manufacturers. 380-2014)) REUTERS Rtr 12:09 10-06-99 ______ Ibexx

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