Qualcomm Jumps Most in Four Years on Patent Deal With Xiaomi
- Deal in world's biggest smartphone market fuels stock rise
- Europe antitrust complaint weighs on Qualcomm share gains
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Qualcomm Inc. jumped the most in more than four years after it signed a patent license agreement with Chinese phone maker Xiaomi Corp., taking it a step closer to solving issues that have dogged its most profitable business.
The shares gained 5.2 percent to $51.85 at the close in New York, their biggest one-day increase since November 2011. Today’s gain cut Qualcomm’s decline this year to 30 percent.