Qualcomm shares shares closed 23.21% higher on Tuesday, adding over $16 billion to its market cap in just over an hour, after settling a long-running legal dispute with Apple over patent royalties.
The bottom line: Wall Street cheered the chipmaker's removal of a very dark cloud.
Illustration: Sarah Grillo/Axios
Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.
Image from a memo to President Trump
In late January, President Trump's economic adviser Peter Navarro warned his White House colleagues the novel coronavirus could take more than half a million American lives and cost close to $6 trillion, according to memos obtained by Axios.
Driving the news: Navarro's grim estimates are set out in two memos — one dated Jan. 29 and addressed to the National Security Council, the other dated Feb. 23 and addressed to the president. The NSC circulated both memos around the White House and multiple agencies.
Tony Evers. Photo: Nuccio DiNuzzo/Getty Images
Wisconsin's Supreme Court on Monday blocked an executive order by Gov. Tony Evers (D) that attempted to delay in-person voting for the state's primary election — currently scheduled for Tuesday — until June 9.
Driving the news: Judges ruled 4-2 along ideological lines that Evers does not have the power as governor to unilaterally postpone the election, despite the fact that the state has a stay-at-home order in place due to the coronavirus pandemic.