Broadcomundefined was up 9% in preopen Island trading, a day after the communications chipmaker posted a second-quarter loss of 16 cents per share before charges. The loss was smaller than the Thomson Financial/First Call estimate of a 17-cent loss. Broadcom earned 24 cents per share a year ago.
Goldman Sachs upgraded the stock to market outperformer from market performer, noting that Broadcom offered flat guidance for the third quarter and showed signs of stabilization in several businesses.
Another communications chipmaker,
Applied Micro Circuits
, was up 6.2% on
. The company late Wednesday posted a first-quarter loss of 5 cents per share, in line with lowered estimates. It also said it would cut its workforce by 5%.