Broadcom (BRCM) NewsBite - Earnings Preview: BRCM

Posted: Thursday, January 29, 2009 10:50 AM EDT

Broadcom (NasdaqNM: BRCM) opened at $17.84. So far today, the stock has hit a low of $17.15 and a high of $17.92. BRCM is now trading at $17.21, down $1.10 (-6.01%). Over the last 52 weeks the stock has ranged from a low of $12.98 to a high of $29.91. BRCM shares are declining today ahead of the company's fourth-quarter earnings report after market close. Analysts are looking for a profit of 27 cents per share on revenue of $1.07 billion. Technical indicators for the stock are neutral and S&P gives BRCM a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BRCM the stock seems like it could be a candidate for a May out-of-the-money bear-call credit spread above the 21 range. [ABR-Seven Summits Strategic Investments NewsBite]

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