Warming Up to Broadcom
The strong quarter Cisco CSCO reported last night is giving Broadcom BRCM a lift today. Cisco's better-than-expected results for the first quarter -- which earned it an upgrade from Pacific Crest this morning -- sparked a huge gap higher open. The stock is attracting very heavy trade and is now stabilizing with a 5% gain. The positive news is pulling BRCM 2% higher, putting shares in a low-risk buying position.
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