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Qualcomm (QCOM) stock rose over 2%, to approximately $131.99, after the company announced a new $20 billion share repurchase program with no expiration date, and also increased its dividend by 3% to $0.92 per share. CEO Cristiano Amon emphasized that this move demonstrates the company's confidence in its financial strength and its commitment to delivering returns to shareholders while pursuing diversification beyond the smartphone business.