Qualcomm Inc (NASDAQ:QCOM) won a legal battle over Apple Inc (NASDAQ:AAPL) on Friday after a federal court jury found that the iPhone maker owed the chipmaker $31 million for infringing on three of its patents. Qualcomm sued Apple last year over patents related to phone battery life, as Reuters reported.
The stock of Qualcomm closed up 2.2% to $56.60 while Apple pared its gain, finishing up 1.3% to $186.12.
Ford Motor Company (NYSE:F) edged up after the automaker announced it was cutting 5,000 jobs in Germany and some other positions in the UK. The company offered voluntary separation packages for employees in the countries, according to CNBC.
The stock was up 0.2% to $8.43.
Boeing Co (NYSE:BA) regained some ground Friday after a tough week. The company plans to roll out a software fix for its 737 Max aircraft in 10 days, per CNBC. Boeing suspended deliveries of its 737 MAX aircraft on Thursday but is continuing with production after a deadly plane crash in Ethiopia. On Friday, Ethiopia Airlines said analysis of the plane’s flight recorders was underway, according to the Associated Press.
The beleaguered aerospace company’s stock rose 1.5% to $378.99.
Ulta Beauty Inc (NASDAQ:ULTA) rallied after posting fourth-quarter results late Thursday that beat expectations. The cosmetics company took in $3.61 EPS on revenue of $2.12 billion, ahead of an expected $3.56 EPS on $2.11 billion in revenue.
Investors blushed, sending shares up 8.3% to $338.41.
Oracle Corporation (NYSE:ORCL) slipped Friday after issuing fourth-quarter guidance late Thursday that disappointed investors. The company projected earnings per share of $0.87, well below the average analysts' estimate of $1.05. The software company did beat on earnings for the third quarter, posting $$0.87 EPS, $0.03 ahead of forecasts, per The Street.
Shares ticked down 0.2% to $52.94.
Broadcom Inc (NASDAQ:AVGO reported first-quarter earnings results after Thursday's bell that beat Street expectations. The communications chip company posted EPS of $5.55 on revenue of $5.79 billion, compared with analysts' forecasts of $5.23 EPS on revenue of $5.2 billion.
Shares jumped 8.2% to $290.29.
Adobe Inc (NASDAQ:ADBE) dropped thanks to an underwhelming second-quarter outlook. The multimedia software company projected earnings per share of $1.77 on revenue of $2.7 billion late Thursday, while the average analyst forecast was for $1.88 EPS on revenue of $2.72 billion.
The share price ended the day down nearly 4% at $257.09.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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