Updated from 4:05 p.m. EDT
Semiconductor stocks were largely in the red Monday despite a solid second-quarter
Qualcomm raised its sales guidance for the year after reporting sales of $2.46 billion, beating top-line estimates of $2.35 billion. For the year, Qualcomm expects sales in the range of $9.8 billion to $10.2 billion. Analysts had expected $9.69 billion. Qualcomm shares rose 4.4% to $43.17.
Qualcomm's earnings release precedes a report Sunday that the company had
a dispute with
for $891 million, $200 million of which Qualcomm will pay in the quarter ended June 30. Broadcom shares rose 0.7% to $24.38.
Among other widely held semiconductor stocks:
fell 2.3% to $17.47.
fell 2.2% to $15.28.
Advanced Micro Devices
fell 1.1% to $3.47.
fell 3.6% to $11.02.