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Broadcom, Qualcomm, Miragen Therapeutics, Savara Inc and more - AFTER HOURS

Last updated: 08:36 12 Mar 2018 EDT, First published: 04:36 12 Mar 2018 EDT

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Tech stocks could be in focus after the Broadcom/ Intel news

It was a record finish on Friday, with the Dow Jones closing up over 440 points

In pre-market deals, a stock on the move is Broadcom Ltd (NYSE:AVGO), which surged 2.65% to US$260.50 after the Wall Street Journal reported that chip giant Intel Corp (NASDAQ:INTC) is considering a bid for the group.

It comes as Broadcom pursues a hostile takeover of rival Qualcomm Inc  (NASDAQ:QCOM) in recent months, which has so far been rebuffed.

 

Broadcom, the Singapore-based semiconductor company, also said it expects to complete its redomicilation to the US by April 3 this year.

Before the bell, Qualcomm shares are up 1.14% to US$63.75.

Elsewhere, Oclaro Inc (NASDAQ:OCLR) shares added over 24% in pre-market to US$9.74 after telecoms firm Lumentum Holdings Inc (NASDAQ:LITE) announced plans to acquire the group for US$9.99 per share in cash and shares.

Miragen Therapeutics Inc (NASDAQ:MGEN) shares added 6.56% to US$7.31 in pre-market trading after gaining 6.52% to US$6.86 on Friday.

On the losing front, Savara Inc (NASDAQ:SVRA) shed over 13% after hours to US$9.50, as it revealed that candidate Aironite failed to meet the primary endpoint in the Indie Phase 2 clinical study conducted by the Heart Failure Clinical Research Network.

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