Today's Research Reports on Trending Tickers: Cirrus Logic and Broadcom
NEW YORK, NY / ACCESSWIRE / January 14, 2019 / U.S. equities posted strong weekly gains, however, stock closed lower for the day on Friday on concerns over an ongoing U.S. government shutdown and worries about an economic slowdown in China. The Dow Jones Industrial Average dropped marginally by 0.02 percent to close 23,995.95, and S&P 500 was down by just 0.01 percent to settle at 2,596.64. The Nasdaq dropped 0.21 percent to close at 6,971.48. For the week, both Dow Jones Industrial Average and S&P 500 gained more than 2 percent and the Nasdaq Composite jumped 3.45 percent.
Joseph Song, an economist at Bank of America Merrill Lynch, said in a note to clients, "We think a deal will be reached to reopen the government, but only after economic, financial and/or political pain is felt," he added, "Every two weeks of a shutdown trims 0.1 [percentage points] from growth; additional drag is likely due to delays in spending and investment."
The Market Edge Initiates Coverage on:
Cirrus Logic, Inc.
https://marketedgereport.com/report/CRUS/
Broadcom Inc.
https://marketedgereport.com/report/AVGO/
Cirrus Logic's stock jumped 3.53% Friday, to close the day at $35.81. The stock recorded a trading volume of 724,380 shares, which was below its three months average volume of 981,174 shares. In the last year, Cirrus Logic's shares have traded in a range of 31.25 - 55.13. The share price has gained 14.59% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $35.45 is below its 200-day moving average of $38.94. Shares of the company are trading at a Price to Earnings ratio of 22.88. Shares of Cirrus Logic have fallen roughly 3.06 percent in the past month and are up 7.93 percent year-to-date.
Access The Market Edge's Cirrus Logic, Inc. Research Report:
https://marketedgereport.com/report/CRUS/
On Friday, shares of Broadcom recorded a trading volume of 1,807,476 shares, which was below the three months average volume of 3,861,806 shares. The stock ended the day 0.42% higher at $250.57. The share price has fallen 8.5% from its 52 week high with a 52 week trading range of 197.46 - 273.85. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $243.00 is above its 200-day moving average of $231.23. Shares of the company are trading at a Price to Earnings ratio of 8.81. Shares of Broadcom have dropped roughly 2.99 percent in the past month and are down 1.19 percent year-to-date.
Access The Market Edge's Broadcom Inc. Research Report:
https://marketedgereport.com/report/AVGO/
Our Actionable Research on Cirrus Logic, Inc. (NASDAQ:CRUS) and Broadcom Inc. (NASDAQ:AVGO) can be downloaded free of charge at The Market Edge.
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SOURCE: MarketEdgeReport
