QUALCOMM (QCOM) down on Q3 earnings

QUALCOMM, Inc. QCOM shares dropped 3.8% to $61.73. QUALCOMM reported better-than-expected earnings for its fiscal third quarter. However, the company lowered its FY15 forecast. The company announced its plans to lower spending by around $1.4 billion and reduce its workforce by 15 percent. The company also reported that will review structural alternatives, including break-up of the company. Share volume was 12 million, compared to an all-day average of 11.3 million