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.

Qualcomm Chief Executive Officer Cristiano Amon said on Wednesday that Arm Holdings has withdrawn a threat to terminate Qualcomm's license agreement with the chip technology provider.

Back in October, during the Snapdragon Summit, news broke that ARM was going to terminate its licensing agreement with Qualcomm. This was because ARM said

Qualcomm has shared an interesting data point about its Q4 PC sales but, unfortunately, it isn't quite as impressive as it first sounds.

In its latest financials call, Qualcomm's CEO dropped a curious statistic about Windows-on-Snapdragon laptop adoption.

Qualcomm said Wednesday that it has made strong progress against its goals for Snapdragon PCs, and that its ongoing litigation with Arm had wrapped up. Specifically, according to Circana — which owns the NPD Group — Qualcomm captured more than a 10 percent share of all of the Windows laptops sold in the United States priced higher than $800,