Broadcom Shares Jump
Broadcom (BRCM ) shares climbed Friday after the company posted second quarter earnings per share before items of 34 cetns, vs. 35 cents one year earlier, on a 5.7% revenue decline. Broadcom sees third quarter revenue of $660 million to $665 million. S&P raised its estimates and target price, reiterating its hold recommendation. Needham upgraded the shares to hold from underperform.
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