BOOM!!!

I don't think I've mentioned Qualcomm on the blog before, but it's one of my long-time favorite stocks.

This news should be big for Qualcomm:

Qualcomm Inc. and Broadcom Corp. agreed to dismiss patent and trade-secret claims against each other Friday, ending several skirmishes in the long-running legal battle between the two wireless technology companies.

Qualcomm said the settlement eliminates five jury trials scheduled to start this year. The first was to begin Monday in federal court in San Diego.

The company has been beating earnings estimates handily, but legal hassles have scared Wall Street away. If Wall Street gains confidence that Qualcomm is settling its legal issues, the stock has a lot of room to run.