SAN FRANCISCO ( TheStreet) -- Qualcomm (QCOM - Get Report) soars Monday after disclosing Microsoft (MSFT - Get Report) plans to use its Snapdragon 810 mobile chip in its flagship Lumia smartphones. Frontier Communications (FTR - Get Report) jumps after a publication praises its dividend yield and growth, while Microsoft inches up following the announcement of free use of its latest operating system Windows 10.
Qualcomm closed up 4.9% at $65.53.
The semiconductor company got a boost after showing its been able to retain customers for its embattled Snapdragon 810 chip. Last week, Qualcomm took a beating after reports surfaced that Samsung (SSNLF) was ditching Snapdragon in favor of using its own processors, prompting Wall Street watchers to attribute that to Qualcomm's lower-than-expected earnings forecast.
In its announcement on Monday, Qualcomm stated its subsidiary:
Qualcomm Technologies, Inc. (QTI), has a growing customer design pipeline in excess of 60 premium tier mobile devices based on the Qualcomm Snapdragon 810 processor. New devices based on Snapdragon 810 include the LG G Flex2 and the Xiaomi Mi Note Pro, with many more expected in the coming weeks and months.
Qualcomm's partner Microsoft also stood up for the company's Snapdragon 810 in the announcement. Juha Kokkonen, Microsoft's general manager for portfolio and product management said:
Microsoft and Qualcomm’s long standing collaboration has allowed the two companies to offer compelling business, imaging, and entertainment experiences with Lumia smartphones running on Windows Phone. We look forward to continuing this relationship to deliver best in class Lumia smartphones, powered by Qualcomm’s Snapdragon 810 processors, and offer an unprecedented combination of processing power, rich multimedia, high-performance graphics and wireless connectivity for our customers.
Apparently, that eased the concerns of Qualcomm investors.
Frontier Communications surged 6.5% to end the day at $7.15.
The telecommunications company got a lift after it was noted in a media report that its dividend yield was more attractive than its large competitor AT&T (T) . The report noted Frontier's dividend offers a substantially higher yield and managed to also deliver greater dividend growth during the past year.
In a side-by-side comparison against AT&T, the report noted that Frontier offers a 5.8% yield, while AT&T is lower at 5.5%. Additionally, Frontier increased its dividend by a sizable 5% versus AT&T, which boosted it by 2% last year.
Microsoft rose 2.2% to close at $41.28.
The Redmond, Wash., giant inched ahead as investors apparently liked its easy-is-better strategy with its Windows updates. With Microsoft's latest operating system, Windows 10, users can automatically get it installed by simply clicking on the "Start upgrade now" icon, notes a Forbes report.
Microsoft is also offering Windows 10 for free to new Raspberry Pi 2 users, who plan to snap up the mini-computer later this year.