Broadcom, Groupon, Comcast: Pre-Market Movers
NEW YORK (TheStreet) - Broadcom (BRCM) was one of tech's laggards during pre-market trading on Wednesday as investors responded to the chipmaker's second-quarter results, released after market close on Tuesday.
The Apple (AAPL) component supplier comfortably beat analysts' revenue and earnings estimates, although weaker-than-expected third-quarter guidance weighed on Broadcom's stock.
Broadcom expects revenue of $1.9 billion to $2 billion for the three months ending in June. Analysts surveyed by Thomson Reuters were looking for $1.97 billion.
Shares of the Irvine, Calif.-based firm were down 47 cents, or 1.27%, to $36.24 before market open.
Groupon (GRPN), which announced the departure of two board members on Monday, was another loser in pre-market trading. Shares of the online daily deals provider tumbled 26 cents, or 2.44%, to $10.60 as investors continued to digest Groupon's boardroom reshuffle. Comcast (CMCSA) was one of the most active pre-market Nasdaq stocks after the cable giant beat analysts' first-quarter estimates early on Wednesday. The company's shares, however, slipped $1.10, or 3.59%, to $29.50 on share volume of 328,932 . Research in Motion (RIMM) shares slipped 6 cents, or 0.45%, to $13.42 with investors unmoved by the first glimpse of the delayed BlackBerry 10 operating system. RIM CEO Thorsten Heins showed off the OS and a prototype BlackBerry 10 device at a developer conference in Florida on Tuesday. Investors, however, were underwhelmed, and RIM's stock closed down 5.7%. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.Select the service that is right for you!
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