Qualcomm Inc (QCOM)

[jackmore]

U.S. accounting rule makers, after nearly a decade of dogfighting, are set to issue on Thursday a rule to force corporations to expense employee stock options starting in mid-2005.

Ugh. The potential for this hit is one reason Keitel has been conservative with his '05 projections, imo. Maybe the revenue gain due to the ending of the royalty sharing agreements in 2H05 will kick in to make this a much smaller bump.

Short term the hedgies are going to have some fun with it though.