Broadcom Inc. Stock Falls Wednesday, Underperforms Market

Power Corporation of Canada

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Financials : Insurance | Large Cap Value
Based in Canada

Company profile

Power Corporation of Canada is a Canada-based international management and holding company. The Company is focused on providing financial services in North America, Europe, and Asia. Its core holdings include insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms. The Company’s reportable segments include Lifeco, IGM Financial and GBL. Lifeco is a financial service holding company with interests in life insurance, health insurance, retirement and investment management services, asset management and reinsurance businesses primarily in Canada, the United States and Europe. IGM Financial is a wealth and asset management company supporting financial advisors and the clients they serve in Canada, and institutional investors through North America, Europe, and Asia. GBL is a Belgian holding company, which is focused on long-term and sustainable value creation.

Broadcom Inc. Stock Falls Wednesday, Underperforms Market

4:38 pm ET November 9, 2022 (MarketWatch) Print

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

Shares of Broadcom Inc. (AVGO) shed 2.62% to $469.47 Wednesday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index falling 2.08% to 3,748.57 and Dow Jones Industrial Average falling 1.95% to 32,513.94. The stock's fall snapped a three-day winning streak. Broadcom Inc. closed $208.29 below its 52-week high ($677.76), which the company reached on December 28th.

The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Taiwan Semiconductor Manufacturing Co. Ltd. ADR (2330.TW) fell 0.03% to $65.00, NVIDIA Corp. (NVDA) fell 5.66% to $137.76, and Intel Corp. (INTC) fell 3.37% to $27.52. Trading volume (2.2 M) remained 293,049 below its 50-day average volume of 2.5 M.

Data source: Dow Jones Market Data, FactSet. Data compiled November 9, 2022.

(END) Dow Jones Newswires

November 09, 2022 16:38 ET (21:38 GMT)