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

To: bananawind who wrote (27940)	4/21/1999 2:44:00 PM
From: Ruffian	Respond to of 152472

The Big Winner> The big winner is Qualcomm (NASDAQ:QCOM - news) , which soared $37.25, or 26%, to $177.88 after hitting a 52-week high of $185. The cellular-phone maker reported fiscal second quarter operating profit of $0.82 per share, compared to $0.25 a year ago and analysts' consensus estimate of $0.59. Qualcomm said it is benefiting from strong demand for phones and semiconductors in North America and South Korea and rising demand in Latin America. NationsBanc Montgomery Securities upgraded the company to 'buy' from 'hold,' Goldman Sachs raised its rating to 'trading buy' from 'market perform,' and BT Alex. Brown raised it to 'strong buy' from 'buy.' 'It's about as positive as you can get,' says David Toung, an Argus Research analyst. 'I think you're really finally seeing a rapid acceptance of CDMA (Qualcomm's wireless technology).' CEO I.R. Jacobs, thinks that earnings can top expectations going forward.