Tazewell County judge bars certification of Virginia redistricting results; state AG promises appeal
A congressional map approved by Virginia voters that aims to help Democrats net four US House seats in November’s midterms faces another legal hurdle just one day after its passage.
A judge in rural southern Virginia on Wednesday ordered that the results of Tuesday’s vote not be certified on several grounds, including that state lawmakers did not follow their own rules in passing the redistricting referendum. Tazewell County Circuit Court Judge Jack Hurley also called the ballot language put to voters “flagrantly misleading.”
Hurley barred state election officials from modifying election districts or proceeding with the new maps.
The fate of Virginia’s referendum was already before the state Supreme Court, which stayed a previous ruling by Hurley in the run-up to the referendum and allowed Tuesday’s vote to proceed before deciding the merits of that case. The case before the state Supreme Court is still pending.
State Attorney General Jay Jones said his office intends to immediately appeal Hurley’s Wednesday ruling.
Andrea Gaines, a spokesperson for the Virginia Department of Elections, said state officials are aware of the ruling and “are in the process of reviewing its impact on the State Board Certification” of Tuesday’s results.
Virginians for Fair Elections, which helped lead the campaign to back the referendum, said in a statement that voters “understood exactly what was on the ballot, and they chose YES.”
“Republicans lost,” the group said. “Now they’re trying to overturn the will of the voters in court and trying to relitigate an election they couldn’t win.”
Virginians narrowly approved the new map giving Democrats an advantage in 10 of the state’s 11 US House seats, a significant win for the party in a redistricting battle that has raged around the country since last summer.
This story has been updated with additional details.
United Airlines Boeing 787 to San Francisco dumped fuel following emergency call
A brand-new United Airlines Dreamliner was forced to make an emergency landing at Changi Airport shortly after beginning its long-haul journey to San Francisco.
SINGAPORE – Flight UA2 to San Francisco departed Singapore at 9:33 AM SGT and was initially climbing toward an altitude of 31,000 feet. However, the flight was cut short when the crew declared an emergency roughly 30 minutes into the trip.
Timeline of the Emergency
The Boeing 787-9, registered as N61101, was heading east over the South China Sea when the cockpit crew transmitted a Squawk 7700 code, indicating a general emergency.
To ensure a safe landing weight, the pilots performed the following maneuvers:
The U-Turn: The aircraft abandoned its path and turned back toward Singapore.
Fuel Dumping: While being vectored by Air Traffic Control, the Dreamliner descended to 6,100 feet.
Weight Reduction: The crew spent approximately 10 minutes circling over the water to dump fuel, a standard procedure for long-haul aircraft that are too heavy to land safely immediately after takeoff.
The plane touched down safely on Runway 02C at approximately 11:03 AM SGT, roughly one hour and 30 minutes after its initial departure.
Cause of the Return
While United Airlines officially cited a “maintenance issue” for the diversion, reports from inside the cabin suggest a more urgent situation.
“There was a strong, acrid odor throughout the cabin,” said a source on board the flight. “It smelled distinctly electrical in nature.”
Aircraft Status
United Airlines confirmed the flight to San Francisco has been canceled as the plane is “out of service to address a maintenance issue”. The aircraft was delivered to the airline only months ago.
Qualcomm (QCOM) investors are about to get a reality check on April 29 when it reports its second quarter of fiscal 2026 earnings. It is not because the company is weak, but because it must prove that its strong momentum over the past few years can withstand a slowing smartphone cycle and increasingly cautious analyst forecasts.
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Valued at $144.6 billion, Qualcomm is a semiconductor and tech company that designs chips and software powering smartphones, cars, computers, and connected devices. Qualcomm entered fiscal 2026 with solid momentum, with revenue rising 5% year-over-year (YoY) to $12.2 billion and earnings increasing by 3% to $3.5 per share. Its semiconductor division, QCT, generated $10.6 billion in revenue, an increase of 5% YoY. Handset chip sales alone accounted for 73% of overall QCT revenue but only increased 3% YoY.
While declining handset sales are a concern, automotive sales stood out, reaching $1.1 billion, up 15% YoY. The company has secured significant partnerships, including a long-term supply agreement with Volkswagen Group (VWAGY) and collaborations with major automakers such as Audi and Porsche (POAHY). In IoT, revenues reached $1.7 billion, growing 9% YoY, owing to strong demand in industrial, networking, and consumer applications. Qualcomm is rapidly pushing into industrial computers, smart cameras, drones, and edge AI systems with its Dragonwing platform. The company also reported $1.6 billion in revenue for the QLT segment, its licensing business, fueled by strong global handset demand, particularly in premium and high-tier devices.
Furthermore, Qualcomm’s strategic acquisitions are strengthening its long-term positioning in the semiconductor space. It completed the acquisition of Alphawave Semi to enhance high-speed connectivity capabilities and acquired Ventana Micro Systems to expand its RISC-V CPU development for data centers.
Qualcomm is still heavily dependent on smartphones, and that segment is entering a weak phase. Rising AI data center demand is causing a global memory crunch, putting pressure on smartphone production. OEMs are reducing inventory and scaling back production, particularly in China. The company is actively trying to reduce its dependence on smartphones and expand its automotive and IoT segments, but diversification is going slower than expected, hampering earnings.
JPMorgan agrees that the company’s diversification is going slow and there are no near-term catalysts to support its growth. The firm believes Qualcomm’s QCT Handsets revenue could decline by 22% in 2026. The firm downgraded QCOM stock to “Neutral” from “Overweight” while reducing its price target to $140 from $185. This is probably why, despite strong Q1 results, Qualcomm has issued weak guidance and analysts have a cautious outlook for fiscal 2026.
For the second quarter, Qualcomm expects revenues between $10.2 billion and $11 billion, compared to $11.6 billion in Q1 2025. Adjusted EPS could fall to a range of $2.45 to $2.65, compared to $3.41 in the year-ago quarter. Management expects handset sales to decline to around $6 billion due to memory constraints, while IoT is expected to grow at a low-teens rate. Meanwhile, automotive revenues could accelerate by more than 35% YoY. This outlook reflects a transition phase where traditional smartphone growth faces headwinds, but newer segments are beginning to take the lead.
In fiscal 2026, analysts predict a 1.2% drop in revenue to $43.6 billion, followed by a 7.8% drop in earnings to $11 per share. Revenue and earnings are expected to remain largely flat into 2027.
In the Q2 report, investors should watch out for clarity on memory constraints, signs of stabilization in handset demand, and continued momentum in automotive, IoT, and AI-driven businesses, as well as management’s guidance for the full year. This will allow them to assess whether Qualcomm can navigate short-term supply disruptions while maintaining its long-term growth trajectory and whether the stock is worth holding on to.
While Wall Street rates the stock as an overall “Hold,” analysts believe the stock has more room to run in the coming months. QCOM stock is down 20% year-to-date (YTD), compared to the broader market gain of 4.4%, and has fallen 33% from its 52-week high of $205.95. Based on its mean target price of $157.23, the stock could surge 15% from current levels. Plus, its high target price of $360 implies an upside potential of 51% over the next year.
Of the 33 analysts covering the stock, nine rate it a “Strong Buy,” one says it is a “Moderate Buy,” 19 recommend holding it, while two say it is a “Moderate Sell,” and two rate it a “Strong Sell.”
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On the date of publication, Sushree Mohanty did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
