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QUALCOMM, Inc. : N.Y. Comptroller : Qualcomm to Post Political Donations Online

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02/22/2013 | 02:07pm CET
   By Melodie Warner 

Qualcomm Inc. (QCOM) agreed to implement a revised political-spending disclosure policy to avoid a lawsuit filed by the New York State Common Retirement Fund.

New York's public pension fund filed a lawsuit last month in an unusual effort to force the wireless-technology company to disclose what it spends on political causes.

The lawsuit, which legal experts say could have a significant impact on corporate political giving, alleged Qualcomm has declined to disclose its political donations, despite a formal request by the pension fund and other institutional investors.

Under the updated policy, Qualcomm will post online the company's contributions to political candidates, political parties, trade associations, Section 501(c)(4) organizations and contributions to influence ballot measures, according to a joint release from New York State Comptroller Thomas P. DiNapoli's office.

"Qualcomm agrees with the New York State Common Retirement Fund that increased transparency for election-related activities by corporations is very beneficial," said Chief Executive and Chairman Paul E. Jacobs.

The New York public pension fund is the third-largest such fund in the U.S., with more than $150 billion in assets under management. The fund said it owns $378 million of Qualcomm stock, making it Qualcomm's biggest public-pension investor.

The San Diego chip maker reported last month its fiscal first-quarter profit surged 36%, as brisk demand from smartphone manufacturers helped drive revenue up 29%.

Shares closed Thursday at $64.82 and were inactive premarket. The stock has risen 3.6% over the past year.

-Dan Strumpf contributed to this report.

Write to Melodie Warner at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Financials ($)
Sales 2018 22 893 M
EBIT 2018 5 859 M
Net income 2018 3 952 M
Finance 2018 15 992 M
Yield 2018 3,42%
P/E ratio 2018 25,98
P/E ratio 2019 23,63
EV / Sales 2018 3,69x
EV / Sales 2019 3,53x
Capitalization 100 B
Duration : Period :
Qualcomm Technical Analysis Chart | QCOM | US7475251036 | 4-Traders
Technical analysis trends QUALCOMM
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 64,0 $
Spread / Average Target -6,1%
EPS Revisions
Steven M. Mollenkopf Chief Executive Officer & Director
Derek K. Aberle President
Paul E. Jacobs Executive Chairman
George S. Davis CFO, Principal Accounting Officer & Executive VP
James H. Thompson Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
QUALCOMM2.25%100 435
CISCO SYSTEMS20.62%180 195
ERICSSON2.43%21 557