Broadcom (BRCM) stock jumped early Monday after the chipmaker said it will look to sell or wind down its wireless business. Irvine, Calif.-based Broadcom said it has hired investment banker JPMorgan (JPM) to advise on its “strategic alternatives.” Broadcom was up 12% in early trading in the stock market today, near 35.75 and close to a 52-week high. It’s now above a 32.41 buy point out of a flat base. “The successful sale or wind-down of the
Online storage company Box late Monday filed for its long-expected IPO, paving the way for one of the most anticipated initial public offerings of the year. The provider of cloud-based content management and file-sharing services plans to raise $250 million. The company will list on the NYSE under the ticker BOX. Morgan Stanley (MS), Credit Suisse (CS) and JPMorgan (JPM) are lead underwriters. For the 12 months ended Jan. 31, Box reported revenue
For people concerned about online security, the headlines this week did little to convince them that it is safe to conduct their business on the Internet. On Wednesday, the BBC reported that more than 2 million passwords for sites including Facebook (FB)Yahoo (YHOO) Google (GOOG )Twitter (TWTR) and LinkedIn (LNKD) had been stolen and posted online. Security firm Trustwave discovered the trove of login credentials, email credentials and passwords. A criminal organization might have been behind the security breach that acquired the personal information. The data likely were taken from computers infected with malicious software that logged key presses, the BBC said. In October, Adobe Systems (ADBE) reported that hackers broke into its computer systems and stole user names, passwords and credit card numbers. That breach impacted about 38 million active users on Adobe’s network Business Insider reported. On Thursday, JPMorgan Chase (JPM) warned 465,000 holders of prepaid cash cards…