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Dow Closes at Record High

Broadcom Ltd. shares were in focus after the semiconductor company proposed a slate of 11 directors to replace the entire board at chipmaker Qualcomm Inc.

The Dow Jones Industrial Average closed at a record high, meanwhile the S&P 500 and the Nasdaq closed in the red, down 0.11% and 1.05%, respectively. 

Shares of Broadcom Ltd. (AVGO) - Get Broadcom Inc. Report were in focus after the semiconductor company launched a total boardroom takeover effort at Qualcomm Inc. (QCOM) - Get QUALCOMM Incorporated Report . Broadcom has nominated 11 directors for election at the chipmaker's annual shareholder meeting. The move comes after Qualcomm rejected Broadcom's unsolicited offer of $70 a share.

Broadcom is scheduled to report its fiscal fourth-quarter financial results on Wednesday.

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