HomeInvestingEarningsEarnings Reaction: AVGO, MRVL, COST & BBY, SE Downgrades
Earnings Reaction: AVGO, MRVL, COST & BBY, SE Downgrades

The markets opened lower today even after the big jobs report beat. Broadcom (AVGO) earnings report indicated $8.39 in EPS and $7.71B in revenue. How does AVGO compare to other semiconductor stocks like NVDA, AMD, and MU? Marvell Technology (MRVL) earnings data showed $0.50 in EPS and $1.34B in revenue, beating estimates. Next, Jeff Pierce weighs in on the Best Buy (BBY) earnings. BBY has been downgraded to market perform from outperform at Raymond James due to the stock surpassing the firm’s previous price target of $105. The analyst sees difficult year-over-year comparisons from here. Additionally, Costco (COST) earnings report indicated $2.92 in EPS and $51.9B in revenue. Finally, Pierce discusses Sea Limited (SE) being downgraded to neutral from overweight at JPMorgan. The analyst retains a favorable view on long-term outlook supported by ongoing investments. Tune in for the full discussion.

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