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INX:AVGO, Jul 16, 10:03 UTC

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Tech Today: Broadcom's Best Deal? Somber on Netflix, Cheers for ASML

AVGO

Here are some things going on today in the world of tech: People are still debating Broadcom’s (AVGO) announcement last week it will spend $19 billion to acquire software maker CA (CA), with a healthy debate over the merits and drawbacks of the deal. Broadcom shares are up $1.88, or 0.9%, at $204.34, while CA is down 3 cents $44.04, just below the deal’s offer price of $44.50. For the bullish view, Piper Jaffray’s Harsh Kumar reiterates an Overweight rating on Broadcom stock, and a $293 price target, after having talked to CFO Tom Krause on Friday, a chat that left him “extremely comfortable with the CA acquisition." "In our humble opinion, it may end up being one of Broadcom’s best acquisitions over the last several years." Kumar writes that Broadcom will tweak some things, leaving others alone.

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The Zacks Analyst Blog Highlights: PepsiCo, Eli Lilly, Broadcom, Biogen and Marathon

MPC BIIB +3 more MPC BIIB AVGO PEP LLY

Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include PepsiCo PEP, Eli Lilly (LLY), Broadcom AVGO, Biogen BIIB and Marathon Petroleum MPC. PepsiCo’s shares have decreased 7% year to date, underperforming the Zacks Soft Beverages industry, which has declined -5.1% over the same period. However, PepsiCo has surpassed the industry in the past month driven by a solid earnings trend with beat recorded in the last 10 quarters, including second-quarter 2018. The Zacks analyst thinks Lilly’s new products like Trulicity, Taltz, Basaglar, Cyramza, Jardiance and Lartruvo have been driving revenues and the trend is expected to continue in 2018.

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Friday, July 13


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How to Trade Broadcom Stock After CA Acquisition

AVGO

On Wednesday after the close, shares of CA (NASDAQ:CA) soared some 18% after The Wall Street Journal reported that Broadcom (NASDAQ:AVGO) would acquire the company. With AVGO stock down almost 3% Wednesday and more than 16% in early Thursday trading, what should investors do? While $18.9 billion is small potatoes compared to the massive deal AVGO was trying to leverage in its buyout of Qualcomm (NASDAQ:QCOM), it’s still a noteworthy tie-up given Broadcom’s $105-billion market cap. AVGO-CA Deal. What’s the market saying when a stock tumbles ~15% following a deal announcement? Revenue growth had become stagnant, but it’s clear that AVGO sees CA as a possible cash flow machine.

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Broadcom Traders Bet Stock Will Fall 12% Further

CA AVGO

Broadcom Inc.'s ( AVGO) recent acquisition of CA Inc. ( CA) for $18.9 billion caught many investors by surprise, and Broadcom's stock was punished as a result. The move by Broadcom to buy CA comes after Broadcom was unable to acquire Qualcomm Inc. ( QCOM) earlier this year. The reports of the new deal caught many investors off guard, given the differing business that Broadcom, a chipmaker, and CA, a software company, have.

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Tech Today: Nvidia's GPU Problem, More Broadcom Downgrades, Hope for IBM

AVGO TWX +1 more AVGO TWX T

Here are some things going on today in the world of tech: Two more analysts have downgraded Broadcom (AVGO) on its proposed acquisition of CA (CA), sending the stock down $2.18, or 1%, to $207.80. One persistent worry for GPUs has been the ebbs and flows of the cryptocurrency market, but "gamer demand also appears relatively muted,” writes Peterson.

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Top Analyst Reports for PepsiCo, Eli Lilly & Broadcom - July 13, 2018

AVGO PEP +1 more AVGO PEP LLY

Today's Research Daily features new research reports on 16 major stocks, including PepsiCo (PEP), Eli Lilly (LLY) and Broadcom (AVGO). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. PepsiCo’s shares have decreased 7% year to date, underperforming the Zacks Soft Beverages industry, which has declined -5.1% over the same period. However, PepsiCo has surpassed the industry in the past month driven by a solid earnings trend with beat recorded in the last 10 quarters, including second-quarter 2018. The Zacks analyst thinks the company is also gaining from significant strength in the snacks business, which has mostly offset the sluggishness in beverage category.

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Broadcom to Acquire CA: Tech ETFs in Focus - July 13, 2018

CA AVGO

Communications’ chipmaker Broadcom AVGO surprised Wall Street by announcing that it is acquiring the software provider CA Inc. CA) for $19 billion in cash.Under the terms of the deal, Broadcom would be paying $44.50 per share in cash to CA's shareholders. The deal came a few months after Donald Trump blocked Broadcom's $117 billion hostile bid for semiconductor peer Qualcomm QCOM, citing national security threats (see: all the Technology ETFs here).The chip-making giant aimed at diversifying the company’s business beyond semiconductors by acquiring CA, which is a legacy software company specializing in mainframes. We intend to continue to strengthen these franchises to meet the growing demand for infrastructure software solutions.”The deal is expected to drive Broadcom's long-term adjusted EBITDA margins above 55% and be immediately accretive to its non-GAAP EPS. If approved, the transaction would reshape Broadcom’s pure software business and provide a new arena into the software market.Market ImpactThe news led to negative sentiment for Broadcom, pushing its shares down as much as 19% on the day - its biggest drop ever. All these funds have a Zacks ETF Rank #1 (Strong Buy) or 2 (Buy), suggesting their continued outperformance:iShares PHLX Semiconductor ETF SOXXThis ETF follows the PHLX SOX Semiconductor Sector Index and offers exposure to 30 firms.

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Match Group, Papa John's International, Broadcom, CA and IBM highlighted as Zacks Bull and Bear of the Day

IBM CA +1 more IBM CA AVGO

Chicago, IL – July 13, 2018 – Zacks Equity Research highlights Match Group MTCH as the Bull of the Day, Papa John’s International PZZA as the Bear of the Day. Match Group, while an independent public company, is mostly owned by Interactive, which holds 81% of the economic value and 97% of the voting rights in Match. Originally formed as a television media company, IAC owns approximately 150 brands across a wide swath of media - primarily internet sites. Though many are household names – like Dictionary.com, Investopedia and Angie’s List - IAC is most closely associated with the Match Group because Match contributes as much as 40% of IAC’s revenue and more than half of EBITDA in any given quarter. Click to get this free report International Business Machines Corporation (IBM) : Free Stock Analysis Report Match Group, Inc. (MTCH) : Free Stock Analysis Report Broadcom Limited (AVGO) : Free Stock Analysis Report Papa John's International, Inc. (PZZA) : Free Stock Analysis Report To read this article on Zacks.com click here.

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Broadcom's Plunge Looks a Little Excessive

CA AVGO

Topping the list of reasons why Broadcom tumbled: CA is a large enterprise software company with a very broad and diverse product lineup. Naturally, there are concerns about how well such a company will perform as a subsidiary of Broadcom, a chip and hardware supplier that has never owned a major software firm before. As well as about how much Broadcom's existing operations could be impacted as CEO Hock Tan and the rest of Broadcom's management devotes time and resources towards bringing CA into the fold.

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Thursday, July 12


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[$$] Broadcom Shares Sink as Latest Deal Puzzles Wall Street

CA AVGO

The deal, announced late Wednesday, was a surprise even for observers familiar with Mr. Tan’s long history of acquisitions. The CEO built Broadcom into a chip powerhouse largely by acquiring companies.

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