Market recap: Broadcam shares rise on bullish earnings report

More good news: It told investors that it would return $12 billion to stockholders in 2019 through dividends and buybacks.

March 17, 2019 at 4:26AM
FILE - In this Thursday, Nov. 2, 2017, file photo, Broadcom CEO Hock Tan speaks as President Donald Trump listens during an event to announce the company is moving its global headquarters to the United States, in the Oval Office of the White House, in Washington. Broadcom is making an unsolicited, $130 billion offer for rival chipmaker Qualcomm. (AP Photo/Evan Vucci, File)
FILE - In this Thursday, Nov. 2, 2017, file photo, Broadcom CEO Hock Tan speaks as President Donald Trump listens during an event to announce the company is moving its global headquarters to the United States. (The Minnesota Star Tribune)

Broadcom bump: Chip provider Broadcom rose 8.2 percent to $290.29 Friday after it reported a better-than-expected rise in fourth-quarter profit and told investors that it would return $12 billion to stockholders in 2019 through dividends and buybacks.

Peltz sees green: The Canadian marijuana company Aurora Cannabis surged 10.4 percent to $8.79 Tuesday after it selected hedge-fund manager Nelson Peltz as an adviser. Aurora said he will help the company explore potential partnerships. Shares closed Friday at $9.61.

Crash fallout: Boeing shares fell 6.8 percent to $393.64 Monday after the second deadly crash involving its 737 Max 8. Authorities around the world grounded all Boeing 737 Max 8 aircraft following the crash of an Ethiopian Airlines jetliner that killed 157 people. Shares closed Friday at $378.99.

Chips on the table: Nvidia rose 6.6 percent to $160.63 Monday after the chipmaker said it will buy network transmission company Mellanox for $6.9 billion in cash. Shares closed the week at $169.81.

Dollar dip: Dollar General fell 8.1 percent to $110.86 Thursday after the company's fourth-quarter profit fell short of Wall Street forecasts. The discount-store operator also gave investors a weak full-year profit forecast. Shares closed Friday at $113.89.

Stylish numbers: Personal styling service Stitch Fix surged 26 percent to $34.22 Tuesday after the online apparel retailer blew past analyst's expectations for the fourth-quarter, posting earnings of 12 cents per share, easily beating consensus estimate of 5 cents. Shares closed Friday at $32.

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The newly renovated Parkway Theater is next door to the new restaurant El Burrito Mercado.
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The new rule, which goes into effect March 1, says only firms owned by citizens or U.S. nationals will qualify for Small Business Administration loans.

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