Broadcom Falls on Cut Estimates - TheStreet

Broadcom (BRCM) was down 2.9% in preopen Island trading after Goldman Sachs cut its 2001 and 2002 estimates, saying that ongoing enterprise and cable market inventory corrections will make it difficult for the broadband communications chipmaker to make current estimates.

Goldman lowered estimates for fiscal 2001 to a loss of 20 cents a share from a loss of 4 cents.

Goldman added that long-term outlook remained strong, predicting that more than a recent dozen acquisitions will begin to add to revenue in 2002.