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Technology Stocks : Broadcom (BRCM) -- Ignore unavailable to you. Want to Upgrade?

To: Didi who wrote (5413)	2/9/2001 12:40:21 PM
From: Stoctrash	Respond to of 6531

What about REG FD? Don't they have to let the word out to everyone...not a select few at a conference? No official PR needed? Scrambling to do some math first? I would be pissed about that fact peoples...HENRY told them first and not you. ========= Broadcom CEO says sales growth is slowing SAN FRANCISCO, Feb 7 (Reuters) - Shares of communications chipmaker Broadcom Corp. (NASDAQ:BRCM) tumbled more than 11 percent on Wednesday after the company's chief executive said sales growth is not as brisk as an earlier guidance had forecast. "We're not experiencing the kind of growth we were expecting in our previous guidance," Henry Nicholas said at the Banc of America Securities conference here. The stock fell $10-1/2 to $82 in midday trading on the Nasdaq, where it was eighth most actively traded issue. Broadcom has tumbled from a record high of $274-3/4 set on Aug. 25 and is close to its year low of $72-3/8 reached Jan. 3. When Broadcom reported fourth-quarter results on Jan. 23, company executives said then that it believed first-quarter sales would rise 22 percent to 23 percent higher than the $376.1 million it posted in the fourth quarter. Although Nicholas said sales growth now won't be as high as that, he declined to give an exact figure. "Right now we're not ready to identify how much less growth," he said. Broadcom, along with other communications chipmakers have indicated that the first half may be weaker than expected, but believe that the second half will be strong. Cisco Systems Inc. (NASDAQ:CSCO), one of Broadcom's top three customers, on Tuesday reported second-quarter profits that missed expectations for the first time in more than six years and forecast a sales slowdown that could persist for two quarters.