Qualcomm raises profit forecast, may buy back stock if bid for NXP fails
It was the first time Qualcomm raised the buyback as an alternative to buying NXP, as the deal faces strong opposition from NXP shareholders. “With tax reform, we are well positioned to complete a large stock buyback that will deliver essentially the same level of accretion to Qualcomm stockholders as if we had closed NXP,” Qualcomm Chief Financial Offer George Davis said in a webcast. This has prompted companies such as Qualcomm to think about tapping overseas cash in new ways.
Source:: https://finance.yahoo.com/news/qualcomms-2019-profit-revenue-forecasts-150845278.html
