NEW YORK (TheStreet) - Broadcom(BRCM) was one of tech's laggards during pre-market trading on Wednesday as investors responded to the chipmaker's second-quarter results, released after market close on Tuesday.
The Apple(AAPL) component supplier comfortably beat analysts' revenue and earnings estimates, although weaker-than-expected third-quarter guidance weighed on Broadcom's stock.
Broadcom expects revenue of $1.9 billion to $2 billion for the three months ending in June. Analysts surveyed by Thomson Reuters were looking for $1.97 billion.
Shares of the Irvine, Calif.-based firm were down 47 cents, or 1.27%, to $36.24 before market open.
Groupon(GRPN), which announced the departure of two board members on Monday, was another loser in pre-market trading.
Shares of the online daily deals provider tumbled 26 cents, or 2.44%, to $10.60 as investors continued to digest Groupon's boardroom reshuffle.
Comcast(CMCSA) was one of the most active pre-market Nasdaq stocks after the cable giant beat analysts' first-quarter estimates early on Wednesday. The company's shares, however, slipped $1.10, or 3.59%, to $29.50 on share volume of 328,932 .
Research in Motion(RIMM) shares slipped 6 cents, or 0.45%, to $13.42 with investors unmoved by the first glimpse of the delayed BlackBerry 10 operating system.
RIM CEO Thorsten Heins showed off the OS and a prototype BlackBerry 10 device at a developer conference in Florida on Tuesday. Investors, however, were underwhelmed, and RIM's stock closed down 5.7%.
James Rogers
05/02/12 - 09:10 AM EDT
--Written by James Rogers in New York.
No comments:
Post a Comment