Volume Spike: Qualcomm (QCOM)

Posted in pre-market 
January 29th, 2009

Qualcomm (NASDAQ: QCOM) is getting shelled pre-market.  The stock is lower after its Q1-2009 disappointing report was marred by weaker revenue guidance despite “surprisingly strong CDMA and 3G demand.”  Bank of America-Merrill Lynch said it believes the company is just being overly conservative on guidance with lowered numbers and said QCOM remains one of the brokerage firm’s top stocks for 2009.

Shares are down 7.5% at $34.05 on almost 1.5 million shares as 9:07 AM EST.

Jon C. Ogg
January 29, 2009

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