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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
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August 27, 2014
09:06 EDTBRCMBroadcom volatility at record lows
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07:43 EDTBRCMJefferies to hold a summit
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August 24, 2014
21:56 EDTBRCMB. Riley to hold a tour
Silicon Valley Tech Tour travels throughout Silicon Valley on August 25-27.
August 14, 2014
05:52 EDTBRCMOpco sees Cicso results as favorable for supply chain
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