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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: METMAN who wrote (41057)	9/14/1999 4:40:00 PM
From: Ruffian	Respond to of 152472

Market Wrap> ET ****** Qualcomm (QCOM) 162 1/8 +8 3/4: This leading wireless communications company is doing some damage control this morning, and judging by the early action in its stock price, the company is doing a very good job of it. Yesterday, shares of Qualcomm tumbled 12 5/16, or 7.4%, amid speculation that it was on the verge of announcing an earnings warning given its unexplained withdrawal from the SG Cowen Technology conference. Today, however, investors have been given some reassuring clarity as the company stated that its fourth quarter earnings will meet or beat estimates, noting that demand for its CDMA chipsets and phones was stronger than that seen in its fiscal third quarter. Consensus quarterly estimates are for the company to earn $0.87 per share. Yet, investors may still find reason to remain anxious as they wait to see which it will be: will the company meet estimates or beat estimates; and if they beat estimates, by how much? In its last five quarters, Qualcomm has exceeded estimates, on average, by 21.5%. Recall that just a few weeks ago, QCOM fell 23 1/2 points in a single day following contentions from the analyst at Everen Securities that QCOM was expected to meet his profit goals, but not exceed them dramatically as they had done in previous quarters, due to tightness in component supplies and price erosion in its handset business that was pressuring operating margins. Therein lies Part Two of Qualcomm's damage control which, essentially, could make any disappointment over the extent to which Qualcomm exceeds estimates a moot point. The reason being is that Qualcomm also announced that it was pursuing "strategic alternatives" for transitioning its terrestrial-based phone business to a manufacturer, citing many of the concerns expressed by the Everen analyst. The company believes it will be able do so by the end of the year, leaving it to focus on its integrated circuits and wireless data businesses. More details should be forthcoming soon as Qualcomm is scheduled to hold its annual analyst meeting tomorrow. Nevertheless, the decision to exit the handset business should be well-received as it is a testament to management's commitment to maintaining profitability and driving shareholder value-- something it has been very good at as evidenced by the meteoric rise in Qualcomm's stock price this year.-- PJO

To: METMAN who wrote (41057)	9/14/1999 4:42:00 PM
From: Timo Luostarinen	Respond to of 152472

PDQ database available Qualcomm's PDQ phone is here! Explore how to create application-optimized, ultra-small database driven applications that will make it possible to deliver corporate information to the new generation of "Smart Phones"; including Qualcomm's PDQ phone. Join Sybase & Qualcomm on September 28th in San Diego for a technical seminar. If you cannot travel to our San Diego seminar and would like further details please contact Mike Radencich at Sybase at 519-883-6360. The seminar will provide a: -Technical discussion of Sybase's UltraLite deployment technology, the industry's first application-optimized, ultra-small relational database to reside on Qualcomm's PDQ phone. -Understanding of how organizations can customize the capabilities of the database to match the memory requirements of an application running on the device; the customized database can have a memory "fingerprint" as small as 50K. -Understanding of the issues that arise when developing applications for PDQ phones. -Guest speaker: presentation and live demonstration from one of Qualcomm's PDQ developers The seminar begins at 8:30 a.m. with registration and continental breakfast. The presentation and demos 9:00 a.m. - noon. Call 1-800-8SYBASE (1-800-879-2273) or visit web2.sybase.com to register for the seminar. Space is limited so register today!