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To: Caxton Rhodes who wrote (11076)	4/26/2001 5:14:07 PM
From: Puck	Respond to of 34857

<font color=red>Qualcomm shares fall on lower goals By Chris Kraeuter, CBS.MarketWatch.com Last Update: 4:22 PM ET Apr 26, 2001 SAN DIEGO (CBS.MW) -- Qualcomm's second-quarter net income matched Wall Street's expectations, but the wireless communications product maker cut profit estimates for the remainder of 2001. On Thursday, shares closed down $4.93, or 7.8 percent, at $58.05 on volume of 31 million shares. Qualcomm (QCOM: news, msgs, alerts) reported second-quarter pro forma net income of 29 cents a share, matching expectations and 3 cents better than per-share earnings in the year-ago period. Revenue was $713 million, compared with $649 million during the same quarter a year ago. Qualcomm finished the quarter with cash and equivalents of $2.3 billion. Third-quarter earnings are expected to be 21 cents a share, including a 2-cent impact related to satellite-phone firm Globalstar. Analysts had expected earnings of 33 cents a share. Full-year earnings are now expected to come in at $1.05, compared with previous expectations for $1.26 a share.