Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Tech Down as Qualcomm, Huawei Legal Woes Weigh on Chip Stocks -- Tech Roundup

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/22/2019 | 04:53pm EDT

Shares of technology companies fell slightly as legal issues for chip makers threatened to complicate the diplomatic clash between the U.S. and China. Qualcomm shares fell after a court found the chip designer unlawfully suppressed competition in the market for cellphone chips and used its dominant position to exact excessive licensing fees, a federal judge ruled in a decision that could challenge the company's business model and shake up the smartphone industry. A Silicon Valley chip startup backed by Microsoft and Dell Technologies has accused a top executive at Huawei Technologies, Deputy Chairman Eric Xu, of participating in a conspiracy to steal its trade secrets, The Wall Street Journal reported. In a lawsuit set for trial June 3 in federal court in Texas, CNEX Labs will allege that Huawei engaged in a multiyear conspiracy to steal the company's solid-state drive computer storage technology. Huawei has dominated market talk for much of the last 10 days as it was formally blacklisted by Washington. Following that move, companies such as Google parent Alphabet and, more recently, Britain's Arm Holdings have stepped back from doing business with the smartphone and network equipment maker. Reports that the Commerce Department was issuing temporary exemptions for some companies exporting goods to Huawei lifted markets earlier in the week. Tesla shares fell sharply after a Consumer Reports article said the electric car maker's updated Autopilot software "could create potential safety risks." Analysts at brokerage Citi maintained a sell rating on the company, citing ongoing demand and cash-flow issues. First-quarter earnings for security software companies largely were a disappointment, partly because of a slowdown in the wake of accelerated fourth-quarter activity, but there are likely "better days" ahead for the sector later in the year, said strategists at brokerage Morgan Stanley, in a note to clients.

-Rob Curran, rob.curran@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
05:54pWALL STREET STOCK EXCHANGE : S&P 500 Hits Record Close After Fed Hints of Interest-Rate Cut
DJ
05:39pWALL STREET STOCK EXCHANGE : S&P 500 Hits Record Close After Fed Hints of Interest-Rate Cut
DJ
05:29pTSX rises  0.38 percent to 16,574.83
RE
05:29pCITY OF SASKATOON : Daily Road Report, June 21, 2019
PU
05:24pFEDERATED FARMERS OF NEW ZEALAND : Economic Week - June 21
PU
05:24pNew Jersey Lawmakers Reject Gov. Phil Murphy's Millionaire's Tax -- Update
DJ
05:23pCANADA SHEDS JOBS IN MAY AS CONSTRUCTION HIRING FALLS : Adp
RE
05:22pUK to launch second sovereign sukuk - Hammond
RE
05:21pMartin Shkreli settles all litigation with his former company Retrophin
RE
05:16pNEWS HIGHLIGHTS : Top Company News of the Day
DJ
Latest news "Economy & Forex"
Advertisement