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Broadcom Makes New All-Time High After Q2 Beat And Raised Guidance

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Broadcom Ltd (NASDAQ: AVGO) shares are trading higher by $16.00 or nearly 7 percent at $250.59 in Friday's session. The catalyst for the rally is a quarterly EPS beat of $0.19 along with a sales beat of $9 million. Also, the guided higher for Q3 sales.

The Street was heading the wrong way into the report as the issue lost nearly $5 on Thursday falling from $239.48 to $234.59.

After much higher open, it had a quick $4.00 retreat to $244.15, before continuing its move higher. The pace of the rally accelerated once its cleared its opening high print, so far reaching $251.96.

Posted-In: Earnings News Guidance Technicals Intraday Update Movers Trading Ideas

 

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