New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 2, 2014
07:05 EDTBRCMBroadcom to explore strategic alternatives for cellular baseband business
Broadcom announced it is exploring strategic alternatives for its cellular baseband business, including a potential sale or wind-down. The company has engaged investment bank JP Morgan in connection with its efforts. The successful sale or wind-down of the cellular baseband business is currently expected to result in a roughly $700M reduction in annualized GAAP research and development and selling, general and administrative expenses, of which approximately $100M relates to estimated reductions in stock-based compensation. As such, non-GAAP research and development and selling, general and administrative expenses are currently expected to be reduced by roughly $600M. Broadcom currently expects to organically reinvest roughly $50M of these savings on an annualized basis into projects in the Broadband, Infrastructure and Connectivity businesses. This incremental spending is currently expected to strengthen and accelerate the company's plans in the area of small cells, embedded processing and low-power connectivity.
News For BRCM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 27, 2015
11:08 EDTBRCMBroadcom downgraded to Buy from Strong Buy at Tigress Financial
March 24, 2015
07:21 EDTBRCMBroadcom pause in set-top box orders is temporary, says Macquarie
Subscribe for More Information
March 20, 2015
07:24 EDTBRCMBroadcom chip renews competition with in-house hardware makers, WSJ says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use