|Bid||202.60 x 1000|
|Ask||202.90 x 1000|
|Day's Range||201.90 - 213.99|
|52 Week Range||197.46 - 285.68|
|PE Ratio (TTM)||7.63|
|Earnings Date||Aug 20, 2018 - Aug 24, 2018|
|Forward Dividend & Yield||7.00 (2.85%)|
|1y Target Est||305.92|
This weekend's Barron's presents the wisdom and picks from its 2018 Mid-Year Roundtable. "2018 Mid-Year Roundtable: Good News for Stockpickers" by Lauren R. Rublin indicates that the broad market could struggle in the second half, but the Barron's panel of investment experts sees plenty of bargains in energy, media, retail and tech. Andrew Bary's "Ackman's Comeback: How to Ride His Revival" points out that this hedge fund manager's publicly traded vehicle is up more than 10 percent this year and trades at a discount to its net asset value, offering an opportunity for investors.
Shareholders of chip giant Broadcom (AVGO) had reasons to crow as the stock price appreciated 560% from late 2013 through the end of last year. The motto of Broadcom holders had been “In Hock We Trust.” But that faith has been seriously shaken. During the four-month stretch of that failed campaign, Broadcom’s stock traded down 5%.
The Commerce Department removed the ban shortly after ZTE deposited $400 million in a U.S. bank escrow account as part of a settlement reached last month. The settlement also included a $1 billion penalty that ZTE paid to the U.S. Treasury in June. "The department will remain vigilant as we closely monitor ZTE's actions to ensure compliance with all U.S. laws and regulations," Commerce Secretary Wilbur Ross said in a statement that described the terms of the deal as the strictest ever imposed in such a case.
On Wednesday after the close, shares of CA (NASDAQ:CA) soared some 18% after The Wall Street Journal reported that Broadcom (NASDAQ:AVGO) would acquire the company. Broadcom soon confirmed the $18.9-billion buyout, and its shares quickly plunged on the news. With AVGO stock down almost 3% Wednesday and more than 16% in early Thursday trading, what should investors do?
Broadcom Inc.'s ( AVGO) recent acquisition of CA Inc. ( CA) for $18.9 billion caught many investors by surprise, and Broadcom's stock was punished as a result. The move by Broadcom to buy CA comes after Broadcom was unable to acquire Qualcomm Inc. ( QCOM) earlier this year. The reports of the new deal caught many investors off guard, given the differing business that Broadcom, a chipmaker, and CA, a software company, have.
The S&P 500’s top losses on July 12 were: Broadcom (AVGO) declined 13.74%. L Brands (LB) declined 12.05%. Synchrony Financial (SYF) declined 5.29%. Campbell Soup Company (CPB) declined 2.43%. Helmerich & Payne (HP) declined 2.33%. Broadcom
Here are some things going on today in the world of tech: Two more analysts have downgraded Broadcom (AVGO) on its proposed acquisition of CA (CA), sending the stock down $2.18, or 1%, to $207.80. One persistent worry for GPUs has been the ebbs and flows of the cryptocurrency market, but "gamer demand also appears relatively muted,” writes Peterson.
Irrespective of your like or dislike for President Trump, you have to give him credit for being the first U.S. president to take aggressive steps to stop China from dominating new technologies essentially by acquiring American technologies. Subsequently, Avago kept its ticker symbol “AVGO” but changed its name to Broadcom.
Topping the list of reasons why Broadcom tumbled: CA is a large enterprise software company with a very broad and diverse product lineup. Naturally, there are concerns about how well such a company will perform as a subsidiary of Broadcom, a chip and hardware supplier that has never owned a major software firm before. As well as about how much Broadcom's existing operations could be impacted as CEO Hock Tan and the rest of Broadcom's management devotes time and resources towards bringing CA into the fold.
The S&P 500’s top gainers on July 12 were: CA (CA) gained 18.65%. Intuitive Surgical (ISRG) gained 4.12%. IPG Photonics (IPGP) gained 4.01%. Align Technology I (ALGN) gained 4%. Autodesk (ADSK) gained 3.96%.
U.S. stock futures are treading water just above break even this morning. Overall, about 17.8 million calls and 13.3 million puts changed hands on the session. AMZN stock drew a flurry of call option activity yesterday following a bullish note from analysts at Canaccord Genuity.
Match Group, Papa John's International, Broadcom, CA and IBM highlighted as Zacks Bull and Bear of the Day
NEW YORK, NY / ACCESSWIRE / July 13, 2018 / It was a day of gains for CA Inc. but a day of big losses for Broadcom, one day after the companies announced that Broadcom would purchase CA Inc. for $18.9 billion. Broadcom Inc. shares closed down nearly 14% on roughly 43.5 million shares traded yesterday. The stock plummeted to a new low of $197.46 as analysts showed confusion over the company's announcement to acquire CA Technologies, one of the world's leading providers of information technology (IT) management software and solutions.
Good news for CA, Inc. (NASDAQ:CA) shareholders was bad news for Broadcom (NASDAQ:AVGO) owners. The market is ultimately saying Broadcom is overpaying for the headache of integrating the two companies, however, as AVGO shares ended Thursday’s action in the red to the tune of 13.7%. On balance though, Broadcom was the exception to the norm rather than the norm yesterday.
Broadcom Inc.’s surprise $18.9 billion deal to buy the software company CA Technologies makes little sense on the surface but signals a new direction for the tech conglomerate, possibly turning itself into a private equity player.
Tech and media stocks made investors a lot of money over the past five years. According to a global study from the Boston Consulting Group (BCG), the nine of the 10 large companies that generated the highest shareholder returns from 2013 to 2017 all belonged to one of those two sectors. Chipmaker Nvidia Corp. ( NVDA) came out on top, followed by subscription service Netflix Inc. ( NFLX), semiconductor specialist Broadcom Inc. ( AVGO), China’s internet service portal Tencent Holdings Ltd. (TCEHY) and social network Facebook Inc. ( FB).
Broadcom Inc. shares fell nearly 14% on Thursday, showing the challenge Chief Executive Hock Tan faces in persuading investors that his $18.9 billion purchase of the software company CA Technologies makes sense for the chip giant. The deal, announced late Wednesday, was a surprise even for observers familiar with Mr. Tan’s long history of acquisitions. The CEO built Broadcom into a chip powerhouse largely by acquiring companies.
First, I know that my view is in the minority when it comes to pundits and professionals who speak and write about the market, but this bounceback is all about China blinking. Whether you like it or not, or believe it or not, when you get no instant retaliation from China and instead get the companies trying to crack into China see their stocks rallying, it emboldens you to think, wow, I don't want to be crosswise with this one. have just been granted the right to come into China and let a billion credit cards bloom.
Broadcom, which has mushroomed in value by buying out rivals in the past decade's surge in mobile phone production, agreed on Wednesday to buy mainframe software company CA for $44.50 per share in cash, months after President Donald Trump blocked its $117 billion mega-merger with Qualcomm Inc (QCOM.O). While some analysts said the shift in sectoral focus might prove another masterstroke by Broadcom Chief Executive Officer Hock Tan, many raised concerns about a deal that lowers Broadcom's top line growth to 3 percent from 5 percent.
Here are some stories from the world of tech today: DoJ still looking to break AT&T-Time Warner It seems AT&T’s (T) acquisition of Time Warner, completed last month, may have another challenge: The U.S. Department of Justice plans to appeal the federal court judge’s approval of the $85 billion merger, according to CNBC’s Christine Wang, citing a court filing by the DoJ today. Shares of AT&T are down 47 cents, or 1.5%, at $31.76, in late trading. In an emailed statement this evening, David McAtee, AT&T's general counsel, said “the Court’s decision could hardly have been more thorough, fact-based, and well-reasoned.
"This deal hurts management's credibility," Nomura Instinet analyst Romit Shah wrote in a note about the merger. Broadcom announced plans late Wednesday to buy CA for $44.50 a share in cash -- a 20% premium from the stock's price prior to the deal's disclosure. CFRA Research analyst Angelo Zino likewise scaled back his AVGO price target to $280 from an earlier $312 because he believes the deal will reduce Broadcom's top-line growth to 3% from a previously expected 5%.