Qualcomm’s 23% one-day stock surge is a rarity for the market

Apple and Qualcomm finally made peace, settling all their patent disputes after two years of bitter legal battles. The news came Tuesday around 3 p.m. ET, sending Qualcomm’s stock skyrocketing instantly. The shares finished the day more than 23% higher and gained another 10% on Wednesday.

A sudden move that dramatic is one for the Wall Street history books.