Market Updates
Movers: Broadcom, Dollar General, Dollar Tree, Nvidia, Nutanix, Williams-Sonoma
Barry Adams
26 May, 2022
New York City
Broadcom Inc announced a $61 billion deal to acquire VMWare, third largest tech deal ever.
Broadcom gained 0.9% to 536,29 and VMWare 0.2% to $120.87 and extended the 5-day gain to 26.4% when the deal was first reported in the media.
Separately, Broadcom reported sales in the fiscal 2022 second quarter ending on May 1 increased 23% to $8.1 billion and net income jumped 78% to $2.59 billion or $5.93 per share.
Dollar General soared 17% to $228.82 after the deep discount retailer reported first quarter net sales increased 4.2% to $8.8 billion and comparable sales decreased 0.1%.
Diluted earnings per share decreased 14.5% to $2.41.
Dollar Tree surged 17.4% to $156.82 after the deep discount chain said first-quarter consolidated sales increased 6.5% to $6.9 billion and comparable same store sales rose 4.4% across the company.
Net income increased 43.2% to $536.4 million in the first quarter and diluted earnings per share increased 48.1% to a first quarter company record $2.37, compared to $1.60 in the prior year
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