Shares of Qualcomm Inc. (NASDAQ: QCOM), a designer, manufacturer and marketer of digital wireless telecommunications products and services based on its code division multiple access (CDMA) technology and other technologies, are soaring in trading today.
At last check, QCOM shares were trading 4.18% higher at $60.55 on above average volume of 26.33 million. The stock hit an intra-day high of $62.80 in trading today.
QCOM shares are soaring after the company reported its fourth-quarter financial results. For the fourth quarter ended September 30, 2012, QCOM reported revenue of $4.87 billion, representing an increase of 18% on a year-over-year basis. The company’s operating income for the quarter was $1.24 billion. Net income for the quarter was $1.27 billion, representing an increase of 20% over the same period in the previous year.
Dr. Paul E. Jacobs, Chairman and CEO of Qualcomm, said that he is very pleased with the company’s performance this year. Dr. Jacobs said that QCOM delivered record revenues, earnings and MSM chipset shipments driven by increasing global consumption of wireless data across a diverse range of devices, particularly smartphones.
Shares of Universal Display Corporation (NASDAQ: PANL), an Ewing, New Jersey-based company engaged in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials, are sinking in trading today.
At last check, PANL shares were trading 17.60% lower at $23.23 on above average volume of 7.20 million. The stock fell to a 52-week low of $21.55 in trading today.
PANL shares are sinking in trading today after the company reported its third-quarter financial results. For the third quarter of 2012, PANL reported a net loss of $5.5 million, or $0.12 per diluted share, compared to net income of $6 million, or $0.12 per diluted share reported for the same period in the previous year. The company’s revenue for the third quarter was $12.5 million, down from $21.8 million reported for the same period in the previous year.
Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer at Universal Display, said that the long-term outlook for OLED technology remains strong despite the third-quarter results. Rosenblatt also said that material sales in the quarter were consistent with the first quarter of the year, reflecting what the company believes to be a temporary slowdown in industry growth.
Shares of AMC Networks Inc. (NASDAQ: AMCX), owner and operator of several cable television’s brands delivering content to audiences and a valuable platform to distributors and advertisers, are soaring in trading today.
At last check, AMCX shares were trading 8.94% higher at $52.77 on above average volume of 1.37 million. The stock hit a 52-week high of $55.38 in trading today. AMCX shares are soaring after the company today reported its third-quarter financial results.
Shares of Windstream Corporation (NASDAQ: WIN), a provider of advanced communications and technology solutions including managed services and cloud computing to businesses nationwide, are sinking in trading today.
At last check, WIN shares were trading 9.77% lower at $8.50 on above average volume of 31.44 million. The stock fell to a 52-week low of $8.50 in trading today. WIN shares have tumbled in trading today after the company reported its third-quarter financial results.
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