Broadcom, HCL Sign Preferred Services Deal Post CA Buyout
Broadcom AVGO recently inked a preferred services partnership pact with Noida, India-headquartered HCL Technologies. Prior to acquisition, CA Technologies operated primarily in two business segments — mainframe and infrastructure software.Broadcom attempts to enhance infrastructure technology with this partnership, keeping its “Mainframe and US Public Sector professional services group” outside the terms of the deal.Notably, shares of Broadcom have returned 10.1% in the past three months, against the industry’s decline of 3.3%.Key TakeawaysThe partnership is in sync with Broadcom’s attempts to expand mission critical technology solutions portfolio on the heels of CA’s enterprise software offerings. Notably, the new development inspires optimism as there is an abundance of software opportunities in the digital cloud era.These factors will pave the way for Broadcom to diversify its end markets and customer base, which bodes well for the long haul. You can see the complete list of today’s Zacks #1 Rank stocks here.Long-term earnings growth rate for Twitter, Upland Software and Intel is currently pegged at 22.1%, 22% and 8.4%, respectively.Today's Stocks from Zacks' Hottest StrategiesIt's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.And this outperformance has not just been a recent phenomenon.