Broadcom Corp (BRCM.O)
29 Jul 2014
|Market Cap (Mil.):||$20,406.52|
|Shares Outstanding (Mil.):||541.00|
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.
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.
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
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.
* Revised ISM manufacturing data will come close to expectations
- 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.
* Shares rise as much as 13 pct (Adds analyst comment, details from conference call)
* Indexes down: Dow 0.1 pct, S&P 0.3 pct, Nasdaq 0.6 pct (Updates to open, adds economic data and analyst comment)
* Futures up: Dow 15 pts, S&P 1.3 pt, Nasdaq 2 pts (Updates prices, adds Broadcom news)
June 2 - Chipmaker Broadcom Corp said it was looking to sell or wind-down of its cellular baseband business.
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