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Vodafone Moves on Possible Verizon Deal: Tech Premarket

Qualcomm (QCOM - Get Report) shares fell 5% to $62.70 after the mobile chip giant said third-quarter guidance would be weaker than forecast.

For the third quarter, Qualcomm said it expects non-GAAP earnings to be between 97 cents and $1.05 a share, on a sales range between $5.8 billion and $6.3 billion. Analysts surveyed by Thomson Reuters are looking for $1.04 a share in earnings on $5.89 billion in sales.

San Diego-based Qualcomm earned $1.17 a share on $6.12 billion in revenue for its fiscal second quarter. Analysts expected earnings $1.17 a share on $6.09 billion in revenue.

-- Written by Chris Ciaccia in New York

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