19 Mar

Why Broadcom Stock Is Up 6.7% in March

WRITTEN BY Sneha Nahata

Stock price movements

Broadcom (AVGO) stock rose 1.35% and closed at $293.84 on March 18. Shares of the semiconductor giant have risen 6.7% this month as of March 18. AVGO also reached a new high of $299.55 in the March 15 session, mainly driven by its fiscal 2019 first-quarter earnings results for the period that ended on February 3, 2019, which it reported on March 14.

Broadcom stock has risen 15.6% YTD (year-to-date) compared to the S&P 500’s rise of 13% YTD as of March 18. The stocks of Broadcom’s semiconductor peers Qualcomm (QCOM), NVIDIA (NVDA), Micron (MU), Marvell Technology (MRVL), Intel (INTC), and Advanced Micro Devices (AMD) have risen 1%, 26.7%, 24.8%, 23.2%, 16.0%, 25.9%, respectively, YTD.

Why Broadcom Stock Is Up 6.7% in March

Broadcom posted mixed results in the first quarter

Broadcom came out with better-than-expected earnings in the first quarter, wherein its adjusted EPS of $5.55 exceeded analysts’ expectation of $5.23. Its EPS also rose 8.4% YoY (year-over-year) from $5.12.

At $5.79 billion, Broadcom’s revenue missed analysts’ estimate of $5.82 billion by 0.5%. Nevertheless, the chip maker posted revenue growth of 8.7% YoY in the quarter driven by its strong performance in the networking business and the Infrastructure Software segment offset by a drop in its wireless business.

Like its peers, the company’s performance was hurt by a slowdown in China, but optimism over the trade talks between the United States and China could give a boost to the semiconductor industry in the near term. Broadcom has maintained its fiscal 2019 guidance.

Latest articles

After remaining tepid for the first four months of the year, gold prices have taken off in a big way. The initial impetus was provided by a tweet made by President Donald Trump on May 5, which revived trade tensions in a big way.

20 Jun

How Are Charter’s Revenues Trending in 2019?

WRITTEN BY Ambrish Shah

In the first quarter, Charter Communications (CHTR) reported total revenues of $11.2 billion—a rise of 5.2% year-over-year and $7 million ahead of the consensus estimate.

This morning before the market opened, Tesla (TSLA) was trading on a negative note despite a sharp rise in index futures. As of 9:10 AM ET, Tesla stock had fallen 1.2% in the pre-market session to $234.74 after Goldman Sachs cut the target price on the company by about 21%.

The US-China trade war has already given a scare to Apple’s (AAPL) investors vis-à-vis the possibility of a 25% tariff on Apple goods being imported from its Chinese facilities. As a result, Apple might be considering shifting its plants out of China.

Yesterday, Greenlane Holdings (GNLN) fell a whopping 17.1%. The stock has now fallen 28% this month, and it hit its all-time low yesterday. Greenlane Holdings listed in April and priced its IPO at $17 per share. However, since the stock surged more than 25% after its listing, it has been a sorry story for Greenlane Holdings investors.

Yesterday, Mexico ratified the USMCA. The agreement was negotiated last year and would replace the 25-year-old NAFTA. The United States and Canada are yet to ratify the agreement. Renegotiating NAFTA was among Trump’s prominent campaign promises.

172.31.59.107