Tech heavyweights were declining pre-bell Friday.
Moving stocks include:
(-) Broadcom (AVGO), which was more than 8% lower after it reported fiscal Q2 non-GAAP earnings that topped but revenue that missed Wall Street expectations, and it lowered its revenue outlook for the current fiscal year. Non-GAAP EPS increased to $5.21 for the three months ended May 5, from $4.88 a year earlier.
In other sector news:
(+) Sony (SNE) should spin off its semiconductor business, sell off stakes in Sony Financial and other units, and position itself as a leading global entertainment company, according to activist investor Dan Loeb's Third Point LLC, media reported. Sony was recently advancing 2.7%.
(=) Garmin's (GRMN) fitness tracking devices have been added to a consumer discount program offered by privately held health plan administrator American Specialty Health. Garmin was flat after the news.
Price: 259.01, Change: -22.60, Percent Change: -8.03
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