The positive earnings news from Broadcom (BRCM) last night is most likely the driver today.
- Broadcom reported net income of 60 cents a share on revenue of $1.8 billion. Excluding certain items, earnings were 74 cents a share, better than estimates of 71 cents a share. Mobile and wireless revenue surged.
- ....a Baird report that says “momentum in the quarter was primarily driven by wireless, the result of strong smartphone trends.