Wall Street drifted to a mixed close as drops for Ford Motor and Qualcomm worked against buoyant fashion and cigarette stocks. The S&P 500 rose 0.4% Thursday following healthy gains for stock markets across much of Europe and Asia.

Wall Street is drifting Thursday as gains for fashion brands and cigarette makers help offset drops for Ford Motor and Qualcomm following their latest profit reports. The S&P 500 rose

Wall Street is drifting Thursday as gains for fashion brands and cigarette makers help offset drops for Ford Motor and Qualcomm following their latest profit reports.

Shares in Qualcomm fell more than 3 per cent in Frankfurt on Thursday as a disappointing forecast for no growth in its patent licensing business overshadowed a higher-than-expected outlook for sales and profits.

(Reuters) -Qualcomm shares fell 4.2% in premarket trading on Thursday as the chipmaker's downbeat forecast for its patent licensing business overshadowed strong expectations for quarterly sales and

Qualcomm on Wednesday forecast sales and profits above analyst expectations as artificial intelligence features helped fuel demand for smartphones, and its share price fell after the bell on expectations of flat revenue from its patent licensing business.