Reginal Thomas
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Broadcom Corp. Wants Out of the Baseband Business

Broadcom Corp. is looking to exit its cellular baseband business, and expects the current quarter margins to beat or meet its forecasts. Shares for the company rose 13% on Monday. The cellular baseband business has been costing the company money. Christopher Rolland an analyst for FBR Capital Markets said the business was "significantly unprofitable" Broadcom said it plans to either sell the business or wind it down as soon as possible saving them $700 million a year.