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Qualcomm Inc reduced its outlook for fiscal 2015, saying it expects its newest Snapdragon mobile chip will not be used in a major customer's flagship smartphone, sending its shares lower. The San Diego, California, company also warned that "challenges" with another of its chips had hurt its competitiveness in China, where Qualcomm has been disappointed with growth that has fallen short of expectations. It now expects non-GAAP diluted earnings per share for fiscal 2015 between $4.75 and $5.05, compared to a previous range of $5.05 to $5.35. Top smartphone maker Samsung Electronics Co Ltd decided not to use the new Qualcomm Snapdragon 810 processor for its next flagship Galaxy S smartphone after the chip overheated during testing, Bloomberg reported earlier this month.
By Aruna Viswanatha and Julia Edwards WASHINGTON (Reuters) - Loretta Lynch, President Barack Obama's pick for attorney general, on Wednesday sought to make a clean break from the testy relationship her predecessor had with Congress, while supporting the legality of the administration's controversial actions on immigration. Lynch, a career prosecutor known for her diplomatic skills, struck a delicate balance during her confirmation hearing, telling the U.S. Senate Judiciary Committee, "I look forward to fostering a new and improved relationship." Her willingness to listen to Republican concerns was generally well received by the senators.
SACRAMENTO, Calif. (AP) — California health officials Wednesday declared electronic cigarettes a health threat that should be strictly regulated like tobacco products, joining other states and health advocates across the U.S. in seeking tighter controls as "vaping" grows in popularity.