Wednesday's Winners & Losers: Broadcom

Shares rise 16.3% after the company delivered strong sales outlook.
By TSC Staff ,

Broadcom

(BRCM)

rose $3.84, or 16.3%, to $27.39 after the company delivered

strong sales outlook

for the current quarter due to better-than-expected demand for cable set-top box and broadband modem chips.

Microsoft

(MSFT) - Get Report

added $1.20, or 4%, to $31.45 as analysts said

Yahoo!'s

(YHOO)

results were not strong enough to compel Microsoft to raise its bid for the company.

Microsoft CEO Steve Ballmer also

reportedly

said Thursday that his company was willing to walk away from the deal if both sides cannot agree on the price.

Networking company

Level 3 Communications

(LVLT)

jumped 54 cents, or 22.8%, to $2.91 after it reported

smaller-than-expected

first-quarter loss and said its

revenue increased

because of the growing demand for Internet-based video leading to greater usage of its network services.

Meanwhile,

Green Bankshares

(GRNB) - Get Report

climbed 21.9% to $19.35 on first-quarter earnings. The Greeneville, Tenn.-based holding company for GreenBank posted first-quarter income of $7.2 million, or 56 cents a share, vs. $5.6 million, or 57 cents a share, a year ago. Analysts were looking for 47 cents a share. Stifel Nicolaus upgraded the stock to buy from hold.

On the losing side,

Rimage

(RIMG)

lost 24.4% to $17.70 on an earnings miss. For the first quarter, the Minneapolis maker of digital publishing and duplication systems said it made $1.8 million, or 18 cents a share, vs. $2.1 million, or 20 cents a share, in the year-ago period. Two analysts surveyed by Thomson Financial were expecting EPS of 26 cents.

This article was written by a staff member of TheStreet.com.

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