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Samsung, Apple, Qualcomm and Facebook - 5 Things You Must Know

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Here are five things you must know for Tuesday, Oct. 31:

1. -- U.S. stock futures were rising on Tuesday, Oct. 31, suggesting Wall Street would bounce back from losses sustained during the previous session as the Federal Reserve gets set to begin a two-day policy meeting.

It would come as a big surprise to markets if the central bank were to make any change to interest rates when the Fed meeting concludes on Wednesday, Nov. 1, though investors will be paying attention to any tweaks to language that might indicate a move higher in December.

The economic calendar in the U.S. on Tuesday also includes the third-quarter Employment Cost Index at 8:30 a.m. ET, the S&P Corelogic Case-Shiller Home Price Index for August at 9 a.m., Chicago PMI for October at 9:45 a.m., and Consumer Confidence for October at 10 a.m.

Stocks on Monday, Oct. 30, fell amid uncertainty in Washington, a healthcare sector in selloff mode and a big day for deals. The Dow Jones Industrial Average declined 0.36%, the S&P 500 slid 0.32%, and the Nasdaq fell 0.03%.

2. -- Samsung Electronics Co. (SSNLF) confirmed its most profitable quarter on record Tuesday and said it would double the amount of cash it returns to shareholders and boost its capital spending plans as it looks to maintain its lead in the surging global memory chip market.

The world's biggest chip and smartphone maker said operating profit for the three months ended in September was 14.53 trillion Korean won ($12.91 billion), a 23.4% increase from the same period last year, on sales of about 62 trillion Korean won.

Samsung also pledged to return 26 billion Korean won to shareholders over the next three years, doubling its annual dividend to 9.6 trillion Korean won. That will put around 50% of the group's free cash flow back into the hands of investors.

The company also said capex for the full year will be increased to a record 46.2 trillion Korean won as it plans new factory, assembly and storage facilities to take advantage of the surge in global chip demand.

CEO Kwon Oh-Hyun, heir apparent to the incarcerated former chairman, Jay Y. Lee, said earlier this month he would step down in March after more than three decades at Samsung to make room for what he called "a new spirit and young leadership." Samsung announced on Tuesday the promotion of three executives as joint CEOs.

3. -- Apple Inc. (AAPL - Get Report) has designed iPhones and iPads that would drop chips supplied by Qualcomm Inc. (QCOM - Get Report) , Reuters reported, citing two people familiar with the matter.

The change would affect iPhones released in the fall of 2018, but Apple could still change course before then, the people told Reuters.

The dispute stems from a change in supply arrangements under which Qualcomm has stopped providing some software for Apple to test its chips in its iPhone designs, one of the people told Reuters.

The two companies have been in an extended legal battle over Qualcomm's licensing terms to Apple.

Qualcomm shares were down 6.7% in premarket trading on Tuesday.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL?Learn more now.

Will Apple Be Worth $1 Trillion Soon?

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