Qualcomm Slides After Wireless Telecom Names Downgraded

Qualcomm (QCOM) - Get Report was down 22.5% in midday trading after Deutsche Banc Alex. Brown downgraded it to buy from strong buy with five other wireless telecommunications companies. A report last night also suggested that Qualcomm may delay a wireless technology roll-out to Europe.

Deutsche Banc also downgraded

Airspan

(AIRN)

, which lost 10.4%,

Powerwave

(PWAV)

, which slid 12.4%, and

Stanford Microdevices

(SMDI)

, which fell 27.6%. Additionally, the firm cut

DMC Stratex

(STXN)

and

Tekelec

(TKLC)

. DMC lost 2.5%, and Tekelec fell 8.5%.