Broadcom buzzing higher, NPS popping, Krispy Kreme tempting investors ahead of earnings
It's Monday, June 2 and here are your Trending Tickers as measured by your Yahoo Finance searches:
Broadcom (BRCM) -- The company announces it will exit the cellular baseband business. The move will cut expenses by approx $700 million. The chips are used to connect cell phones to networks, an industry dominated by rival Qualcomm (QCOM). Last April CEO Scott McGregor told analysts "We don't do businesses to lose money." Apparently he's good as word and Wall Street likes it. Now they just have to figure out how to get rid of the business.
NPS Pharmaceuticals (NPSP) -- Biotech continues to the sector of choice when it comes to takeover speculation. Shares of NPS are higher by about 12% after The Financial Times reported that the company was being eyeballed by Shire (SHPG). Citing the always chatty "informed sources," the FT said Shire was considering a $40 all cash offer for NPS. Though short of its all-time highs, shares of NPS are up some 300% in the last two years driven by sales of its one drug, Gattex, a subcataneous treatment for adults suffering from short bowel syndrome.
Krispy Kreme (KKD) -- Krispy Kreme stock is trading flat and nervous ahead of earnings this afternoon after the bell. Over the last two years the stock has gone up more than 200% but it's been a grim six months. Faced with competition from low-end Dunkin (DNKN) and fancy-pants cronuts, Krispy Kreme is hoping to right the ship tonight. Analysts are looking for 23 cents on revenue of $126.7 million. Pay particular attention to grocery sales where competition for shelf space has grown fierce.
Those are you trending tickers today - what stocks are you watching? Tweet us using the hashtag trending tickers!
