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Technology Stocks : Broadcom (BRCM)

BRCM 54.67

0.0%

Feb 9 4:00 PM EST

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To: charger who wrote (402)	10/1/1998 9:29:00 AM
From: neverenough	Read Replies (1) of 6531

08:51 ET Broadcom Corp. (BRCM) 71: Manufacturer of chips for Internet access over cable lines says it expects to beat estimates with earnings of approximately $0.16 to $0.17 a share, on revenues of $52.0 to $52.5 mln. For the qtr, the highflying company was projected to earn $0.14. While forecasting better-than-expected earnings, company also announcing that shareholders dumping some stock. Company filed with SEC to sell 3 mln shares, 2.6 mln of which will be unloaded by shareholders, the remainder by the company. In our opinion, selling of shares by shareholders more significant that earnings surprise, as this is a company that is expected to exceed estimates every qtr. Appears others agreeing, as stock indicated 4 1/2 pts lower this morning. (Would be a different story if shares were being sold for BRCM expansion purposes.)

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