Why Is Broadcom Stock Falling Thursday?
Broadcom (AVGO) stock drops over 3% premarket as soft Q4 revenue guidance overshadows strong Q3 earnings and solid AI sales.
Read original at benzingaStocks · News reference
Wall Street analysts changed outlook for top names. Mizuho raised Chubb target, JP Morgan cut Costco target, B of A and Wells Fargo reduced targets.
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Broadcom (AVGO) stock drops over 3% premarket as soft Q4 revenue guidance overshadows strong Q3 earnings and solid AI sales.
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Read original at the-motley-foolChubb (CB) closed at $348.25, up 2.6%, outperforming the S&P 500's 1.06% gain. Analysts expect Q3 earnings of $6.22 per share (down 16.96% YoY) with revenue of $16.71 billion (up 3.59% YoY). The company holds a Zacks Rank #3 (Hold) with a Forward P/E of 12.41, trading at a premium to its industry average of 11.55.
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Read original at zacks-investment-research