Broadcom Inc. Stock Underperforms Monday When Compared To Competitors

Parker Drilling Co

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Company profile

Parker Drilling Company is a provider of contract drilling, drilling-related services and rental tools. Its business consists of two business lines: rental tools services and drilling services. Its rental tools services business includes U.S. rental tools and International rental tools segments, and its drilling services business includes its U.S. (lower 48) drilling and International & Alaska drilling segments. In its rental tools services business, the Company provides rental equipment and services to exploration and production companies, drilling contractors, and service companies on land and offshore in the United States and select international markets. In its drilling services business, the Company drills oil, natural gas, and geothermal wells for customers globally. It also provides well construction services, which include tubular running services and downhole tools, and well intervention services, which include whipstock, fishing and related services.

Broadcom Inc. Stock Underperforms Monday When Compared To Competitors

4:39 pm ET January 3, 2022 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Broadcom Inc. (AVGO) slumped 0.31% to $663.32 Monday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index rising 0.64% to 4,796.56 and the Dow Jones Industrial Average rising 0.68% to 36,585.06. Broadcom Inc. closed $14.44 below its 52-week high ($677.76), which the company reached on December 28th.

The stock underperformed when compared to some of its competitors Monday, as Taiwan Semiconductor Manufacturing Co. Ltd. ADR (2330.TW) rose 7.06% to $128.80, NVIDIA Corp. (NVDA) rose 2.41% to $301.21, and Intel Corp. (INTC) rose 3.32% to $53.21. Trading volume (2.2 M) eclipsed its 50-day average volume of 2.1 M.

Data source: Dow Jones Market Data, FactSet. Data compiled Janurary 3, 2022.

-MarketWatch Automation

(END) Dow Jones Newswires

January 03, 2022 16:39 ET (21:39 GMT)