Tech Five: Qualcomm shares dive
A pair of tech companies are sliding in early trading. Let's take a look at the technology stocks to watch Thursday:
Qualcomm. Shares plunged more than 6% after the chip maker revealed it's being investigated by the Federal Trade Commission. According to The Wall Street Journal, the investigation centers around Qualcomm's patent licensing business. Meanwhile, Qualcomm reported fourth quarter revenue of $6.69 billion, up slightly from the previous year.
Zillow. Shares of the real estate website plunged 7% despite reporting record revenue of $88.6 million and record quarterly traffic. However, as The Street reports, sales forecasts fall short of Wall Street forecasts.
AOL. The company reported a 12% increase in total revenue for the third quarter, while revenue tied to global advertising jumped 18% compared to the previous year.
Symantec. The security company topped Wall Street forecasts on earnings, but posted a slight miss on second quarter revenue, reports Marketwatch.
Apple. Security researchers Palo Alto Networks revealed details of a new piece of malware targeting iOS and OS X devices. The firm says the Wirelurker malware is the biggest in scale they've ever seen.
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