Investors spooked by filings in Broadcom vs. Qualcomm case

NEW YORK-Broadcom Corp.’s share price popped up 3 percent while Qualcomm Inc.’s fell 2 percent after a UBS analyst reported that a staff attorney for the International Trade Commission advised an ITC judge that Qualcomm infringed on two Broadcom patents for cell phone chips.

An ITC spokesperson, Qualcomm and the UBS analyst all followed the initial news with cautionary remarks pointing out that the staff attorney’s view is but one element in the evidence to be weighed by an ITC judge, whose initial determination in the case is due around Aug. 2. The full Commission’s finding is due Dec. 21. The administrative law judge hearing the case and the commission itself can accept or reject the staff attorney’s findings.