QUALCOMM Incorporated (QCOM Quick QuoteQCOM - Free Report) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $61.73–$68.25 in the past one-month time frame, witnessed a sharp increase yesterday.

The stock gained after Qualcomm indicated that it is getting closer to negotiating a merger deal with Broadcom, following a meeting on Feb 23.

The company has seen six negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Qualcomm currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.

A better-ranked stock in the Wireless Equipment industry is Harris Corporation , holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is QCOM going up? Or down? Predict to see what others think:Up or Down

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