Broadcom Stock Wavers Despite Beat-And-Raise Q4 Report

Broadcom (AVGO) late Thursday handily beat estimates for its fiscal fourth quarter and with its guidance for the current period. Broadcom stock initially rose on the news but later turned negative. The Palo Alto, Calif.-based fabless chipmaker and infrastructure software provider earned an adjusted $1.95 a share on sales of $18.02 billion in the quarter ended Nov. 2. Analysts polled…