Qualcomm (QCOM) has been the premier provider of chips for handsets for years. But its investors have had ongoing concerns about legal fighting with its customers, especially Nokia (NOK), and its rivals, especially Broadcom (BRCM). It made peace with Nokia months ago, but has been in court with Broadcom for years.
Recently, there has been hope that Qualcomm would settle issues with its competitor. The company even pushed back its earnings release date because a settlement was getting close. Now it seems the negotiations with Broadcom have been successful.