A licensing agreement between Zoom Technologies (NASDAQ:ZOOM) and Qualcomm (NASDAQ:QCOM) has sent the share price of Zoom skyrocketing up by about 50 percent, although it has pulled back to about 42 percent as the trading day advanced.
The deal is for Zoom to develop and market 3G mobile phones using Qualcomm’s chip patents.
Zoom Technologies was trading at $4.44, gaining $1.34, or 43.23 percent, as of 1:29 PM EDT. Qualcomm was trading at $52.31, up $0.06, or 0.11 percent.
Wednesday, April 13, 2011
Zoom (ZOOM) Soars on (QCOM) Licensing Deal
Labels:
Qualcomm,
Zoom Technologies
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