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

To: Boplicity who wrote (67864)	2/24/2000 2:45:00 PM
From: Ruffian	Respond to of 152472

U.S. Options - Qualcomm vols drop on China news CHICAGO, Feb 24 (Reuters) - Implied volatility for options on wireless phone equipment maker Qualcomm Inc. (NasdaqNM:QCOM - news). dipped on Thursday in active trading after foreign executives in Beijing said China had halted the rollout of CDMA mobile phone networks. Shares of the San Diego-based Qualcomm tumbled 11-11/16 to 135-3/16 on Nasdaq volume of 14.2 million shares. Implied volatility for the March 135 and 140 options was around 70 percent, down about 2 percentage points from early Thursday and below the 80 percent level seen on Wednesday, said Pat Hickey, market maker with LETCO at the Pacific Exchange. He noted many multi-directional players in options. ''There is action going on. We are seeing two-sided paper,'' Hickey said. ''We are seeing speculation on the stock going back up with call buyers in the front months of March and April.'' But he also cited brisk call selling in the deep-in-the-money March 110 calls. ''There are people closing out positions that they might have already had and people putting on new positions,'' he added. The Chinese move came just a week after Qualcomm signed an agreement paving the way for China's number two state carrier China Unicom to build a national network using the U.S. mobile standard. The news also spurred activity in at-the-money 135 puts. ''When stocks drop like this, instead of buying them, sometimes people will sell puts, fully expecting that they will be called on their options and take a long position on the stock,'' he said. Interexchange volume has been brisk, with a turnover of about 47,000 contracts on Wednesday, he said. The busiest options were the March 135 and the March 140 calls and puts on the Chicago Board Options Exchange. At 9:43 a.m. CST (1543 GMT) the March 135 calls lost 7-3/8 to 10-1/2 on interexchange volume of about 993 contracts and open interest of 4,068. On the flip side, the March 135 puts rose 3-5/8 to 9-3/8 on volume of around 2,237 and open interest of 2,191. March 140 calls fell 7 to 7-7/8 on turnover of 1,494 and open interest of 5,627. March 140 puts climbed 4-1/2 to 12-1/8 on volume of about 607 and open interest of 2,667.

To: Boplicity who wrote (67864)	2/24/2000 2:51:00 PM
From: Ruffian	Respond to of 152472

Qualcomm Shares Fall After Report China Will Delay CDMA Network By Justin Baer San Diego, Feb. 24 (Bloomberg) -- Qualcomm Inc. shares fell as much as 14 percent after a report said China delayed plans to build a digital mobile phone network using the company's technology. Qualcomm fell 11 3/8 to 135 1/2 in late morning trading of 13.7 million shares, making it the fourth-most active stock in U.S. markets. Earlier, the shares touched 125 3/4. The Asian Wall Street Journal reported that China indefinitely postponed plans to build the network using Qualcomm's code division-multiple access technology on ''political'' grounds. Chief Executive Irwin Jacobs said yesterday that he hopes a licensing agreement for CDMA reached this month with China Unicom, the nation's No. 2 phone company, is final. ''You can never tell in China,'' Jacobs said at the Roth Capital Partners investment conference in Dana Point, California. ''We still need to sign individual agreements'' with Chinese phone manufacturers. Qualcomm spokeswoman Christine Trimble said today that the San Diego-based company hasn't received any notification from Chinese officials that plans to build the network have been delayed or canceled. ''We're continuing to work with Chinese operators, manufacturers and the government,'' she said. ''We still believe China is committed to CDMA.'' China's number of cellular-phone users is forecast to increase 63 percent this year to 70 million. Qualcomm's CDMA is the fastest-growing cellular standard. The company is challenging the rival global system for mobile communications technology that's used in both China and Europe.