(Reuters) - Activist investor Jana Partners is asking Qualcomm Inc to consider spinning off its chip unit from its patent-licensing business to boost the chipmaker's sagging stock price, the Wall Street Journal reported, citing a quarterly letter that will be sent to Jana investors on Monday. Jana, one of Qualcomm's largest shareholders, is also calling on the company to cut costs, accelerate stock buybacks and make changes to its executive pay structure, financial reporting and board of directors, the newspaper said. In the letter, Jana said the buyback is a positive step but Qualcomm needs to do more to capitalize on its strong position in the chip market. It said Qualcomm's chip business is essentially worthless at the company's present market value, the Journal reported.
via Tech News Headlines - Yahoo News http://news.yahoo.com/jana-partners-urges-qualcomm-consider-breakup-wsj-073220799--sector.html
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