Qualcomm Rises on Patent Wins

Qualcomm Inc. shares rose 11% after the company said authorities in Japan and Europe upheld three key patents on its mobile-phone technology. Qualcomm rose $6.75 on Nasdaq to close at $69.81. The company said its patents withstood a challenge by Nokia, Nippon Telegraph & Telephone Corp. and other companies that are supporting a new rival version of the cell-phone standard developed by Qualcomm. The decisions could make it easier for Qualcomm to get royalties from license agreements in Europe and Japan, two markets now dominated by a competing cellular standard.