The Hot Stock: Broadcom Jumps 4.9%
December 09, 2016 at 16:49 PM EST
Broadcom ( AVGO ) jumped to the top of the S&P 500 today after the semiconductor company reported Street-beating earnings . Broadcom gained 4.9% to $179.09 today, while the S&P 500 rose 0.6% to 2,259.53. MKM Partners' Ian Ing argues that Broadcom has made a " long-term shift from momentum growth story to successful cash-generating 'Utility.'" He explains:
