- Shortly after The Information reported major layoffs are planned, the WSJ reports Qualcomm (NASDAQ:QCOM) is "expected to conduct a sweeping strategic review that will look at the possibility of a breakup." Board changes are also reportedly being considered.
- The WSJ adds Qualcomm might announce it's considering a breakup and other options, such as bigger capital returns, when it posts FQ3 results on Wednesday afternoon. It cautions the company's plans are "in flux." Qualcomm has already launched huge buybacks, and even tapped debt markets to help finance them.
- In April, activist Jana Partners called on Qualcomm to consider spinning off its chip unit (QCT) from its IP licensing unit (QTL). Chairman Paul Jacobs stated in late June the company has no such plans. There's speculation a spun-off QCT would participate more aggressively in the chip industry's M&A wave.
- Qualcomm finished AH trading up 2.7% to $65.53.