News: Broadcom Corp (BRCM.O)

BRCM.O on Nasdaq

38.30USD
24 Jul 2014
Price Change (% chg)

$0.15 (+0.39%)
Prev Close
$38.15
Open
$38.26
Day's High
$38.44
Day's Low
$37.65
Volume
8,053,394
Avg. Vol
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52-wk High
$40.74
52-wk Low
$23.25

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Tue, Jul 22 2014

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Broadcom cuts 2,500 jobs in wind-down of baseband unit

SAN FRANCISCO - Broadcom Corp said on Tuesday it is winding down its money-losing cellular baseband chip business and cutting one-fifth of its total workforce, instead of selling the unit.

UPDATE 2-Broadcom cuts 2,500 jobs in wind-down of baseband unit

SAN FRANCISCO, July 22 - Broadcom Corp said on Tuesday it is winding down its money-losing cellular baseband chip business and cutting one-fifth of its total workforce, instead of selling the unit.

BRIEF-Broadcom winding down baseband business, not pursuing sale

SAN FRANCISCO, July 22 - Broadcom Corp : * CEO says winding down baseband business and not pursuing sale * CFO says to reduce worldwide headcount by "additional" 2,250 employees

Broadcom quarterly revenue down, slightly misses expectations

SAN FRANCISCO, July 22 - Broadcom posted lower second-quarter revenue on Tuesday that slightly missed Wall Street's expectations as the chipmaker plans to exit the fiercely competitive cellular baseband business.

US STOCKS-Dow, S&P edge up; revised ISM reportedly more bullish

* Revised ISM manufacturing data will come close to expectations

Broadcom looks to exit cellular baseband chip business

- Chipmaker Broadcom Corp said it was looking to exit its cellular baseband business, and forecast current-quarter margins to beat or be at the high end of its estimate.

UPDATE 2-Broadcom looks to exit cellular baseband chip business

* Shares rise as much as 13 pct (Adds analyst comment, details from conference call)

US STOCKS-Wall St dips after manufacturing data, Google falls

* Indexes down: Dow 0.1 pct, S&P 0.3 pct, Nasdaq 0.6 pct (Updates to open, adds economic data and analyst comment)

US STOCKS-Futures imply flat open with indexes at record levels

* Futures up: Dow 15 pts, S&P 1.3 pt, Nasdaq 2 pts (Updates prices, adds Broadcom news)

Broadcom looking at sale of its baseband chip business

June 2 - Chipmaker Broadcom Corp said it was looking to sell or wind-down of its cellular baseband business.

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