Broadcom BUILDING Relationships with China and 4 Chip and Big Data Stocks on the Move
Intel Corporation (NASDAQ:INTC): According to the Hill, in a study that was released earlier this month, two universities found that automobiles are becoming more vulnerable to computer viruses. Their shares traded down $0.37 (1.42%), they were recently at $25.74.
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Broadcom Corp. (NASDAQ:BRCM): Broadcom Corp. is seeking growth among China’s rising number of low-cost smartphone makers as the company looks to increase their share of the booming market for microchips that enable handsets to operate and connect to the Internet. Chief Executive Scott McGregor said in an interview that the Irvine, California company is building relationships with Chinese smartphone makers. They hope to work with manufacturers such as ZTE Corp. to gain a market share in China as well as emerging and developed markets across the globe who use low price handsets. Their shares traded down $0.28 (0.79%), they were recently at $35.11.
QUALCOMM Incorporated (NASDAQ:QCOM): According to Globes, Qualcomm Incorporated (NASDAQ:QCOM) is expected to announce this week their acquisition of Israeli start-up DesignArt Networks. The purchase price for the deal is believed to be $120-$140 million, which includes milestone payments that DesignArt would be required to make. Their shares traded down $0.02 (0.03%), they were recently at $61.10.
Rackspace Hosting, Inc. (NYSE:RAX): According to GigaOM, Rackspace Hosting, Inc., (NYSE:RAX) will launch Cloud Monitor today. This service will give their customers a better view into how their cloud infrastructure is working around the world. Their shares traded up $0.97 (1.74%), they were recently at $56.65.
SanDisk Corp. (NASDAQ:SNDK): After Barclay’s cut their rating from overweight to underweight, shares of Groupon Inc. sank 4% to $4.44. Analyst Mark May said in a note, “Considering that Groupon’s business model could be undergoing a meaningful transition that persists and creates uncertainty, we’re now taking a more pragmatic approach to our forecasts.” Shares of Facebook Inc. also shed 3.4% to $19.35. However, technology stocks were basically higher due to an increase in shares of SanDisk Corp. which rose 2.5% in early trading, while Dell grew by 1%, as the Nasdaq Composite Index added 14 points, or 0.4%, to 3,090. Their shares traded up $0.36 (0.84%), they were recently at $43.34.
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