On Monday, Shares of QUALCOMM Incorporated (NASDAQ:QCOM), lost -0.85% to $63.79.
Chipmaker Qualcomm Inc is preparing to lay off several thousand employees, or more than 10 percent of its 30,000-strong workforce, the Information website stated on Monday.
The cuts, predictable to be declared during the company’s third quarter earnings declaration this week, could impact more than 10 percent of the company’s 30,000-person workforce, The Information stated, citing people inside and outside of the microchip maker.
Qualcomm could shift more research and development activities to low-cost countries such as India for further cost savings, the Information stated, citing one person.
Qualcomm has been under pressure from hedge fund Jana Partners to spin off its chip business from its highly profitable patent-licensing business.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services in China, South Korea, Taiwan, and the United States. The company operates through three segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Planned Initiatives (QSI).
Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR), declined -5.79% to $7.49, during its last trading session, as U.S. oil prices dipped below $50 a barrel Monday for the first time since April on continued concerns that global crude-oil supplies are overwhelming demand.
Light, sweet crude for August delivery settled down 74 cents, or 1.5%, to $50.15 a barrel on the New York Mercantile Exchange, the lowest settlement since April 2, after slipping as low as $49.85 a barrel earlier in the session. The August contract expires at settlement Tuesday. WSJ Reports.
Petróleo Brasileiro S.A. Petrobras operates as an integrated energy company in Brazil and internationally. Its Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of crude oil and oil products produced at natural gas processing plants in domestic and foreign markets.
Finally, Newfield Exploration Co. (NYSE:NFX), ended its last trade with -1.55% loss, and closed at $33.61.
Newfield Exploration Company, will host its second quarter 2015 earnings conference call at 10:00 a.m. (CST), Wednesday, August 5, 2015. The Company plans to release its second quarter earnings after market close on August 4, 2015.
To take part in the conference call, please dial (913) 312-0671 and enter conference code 1066976 about 10 minutes preceding to the planned start time. In addition, a listen-only broadcast of the call will also be offered over the internet at http://www.newfield.com, under Investor Relations.
Newfield Exploration Company, an independent energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. The companys primary areas of operation comprise the Mid-Continent, Rocky Mountains, and onshore Gulf Coast regions in the United States. It also holds offshore oil developments in China.
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