Qualcomm stock rises on $10 billion buyback plan

Qualcomm Inc. QCOM, -1.59% shares roseate successful the extended league Tuesday aft the spot shaper said its committee had authorized $10 cardinal successful stock repurchases. Qualcomm shares roseate 1.6% aft hours, pursuing a 1.6% diminution to adjacent the regular league astatine $122.95. The institution said the caller $10 cardinal program adds to its buyback programme announced successful July 2018, which has $900 cardinal of buyback authorization remaining. Qualcomm shares person declined 3% implicit the past 12 months, compared with a 23% emergence successful the S&P 500 scale SPX, -0.24%, a 22% summation connected the tech-heavy Nasdaq Composite Index COMP, -0.14%, and a 31% summation connected the PHLX Semiconductor Index SOX, -1.34%.