Qualcomm Stock Jumps After Appeals Court Tosses Anti-Trust Ruling

Shares of mobile device chipmaker Qualcomm jumped in Tuesday trading after the U.S. Court of Appeals for the Ninth Circuit ruled against the Federal Trade Commission in a significant antitrust case. In it, Judge Lucy Koh said that because Qualcomm was refusing to sell chips to companies such as (AAPL) (AAPL) unless they also licensed its patents, it held an illegal monopoly in smartphone semiconductors. The ruling is a blow to the FTC’s case, which last year threatened to reorder the chip market because it forced Qualcomm to renegotiate with more than 300 equipment manufacturers.

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