Stocks Mixed After Weak Jobs Report; Major Indexes on Track for Worst Week of 2025

Broadcom Surges on Strong Earnings, Outlook

5 minutes ago

Broadcom (AVGO) shares surged Friday after the chipmaker posted quarterly results and an outlook that topped analysts’ expectations on the back of robust demand for its AI semiconductors.

Broadcom reported adjusted earnings per share (EPS) of $1.60 on revenue that grew 25% year-over-year to $14.92 billion, both above Visible Alpha expectations. Its current-quarter projected revenue of $14.9 billion came in slightly ahead of the consensus. 

The company said its AI revenue jumped 77% in the quarter, with projections showing continued improvement in that area.

Citigroup stuck with its buy rating on the stock “given upside from AI” and $220 price target, noting that the chipmaker’s AI strength would offset any potential “downside” from sanctions on TikTok parent ByteDance and any loss of the business of supplying radio-frequency chips to Apple (AAPL). Both China’s Bytedance and the Apple RF chip business are projected at around 2% of Broadcom’s fiscal 2025 sales, Citi said.

U.S. President Donald Trump has an April 5 deadline for TikTok to be sold or banned, although The Hill cited him as saying Thursday that it could be extended if a deal isn’t reached.

Broadcom shares have struggled at the start of this year given mounting concerns over tech giants’ big AI spending and uncertainty about the potential impact of the Trump administration’s policies on tariffs and AI chip export curbs.

The stock was up nearly 4% at $186.50 in recent trading. Over the past 12 months, shares have gained about 32%, far outpacing the performance of the S&P 500 over that stretch.

–Nisha Gopalan

Walgreen’s Shares Jump on $10 Billion Deal to be Taken Private

1 hr 37 min ago

Walgreens Boots Alliance (WBA) shares jumped after the drugstore chain agreed to be taken private in a $10 billion deal with private equity firm Sycamore Partners.

Sycamore said it would pay $11.45 per share for the company, about 8% above Thursday’s closing price. The stock was up 6.5% at $11.29 in recent premarket trading.

Investors could also receive up to $3 more per share in proceeds from the eventual sale of Walgreens’ primary care businesses, the company said, which could raise the value of the deal up to nearly $24 billion. The transaction is expected to close in the fourth quarter of 2025. 

Walgreens shares rose earlier this year following previous reports of talks to take the drugstore chain private. The deal comes after a tough stretch for Walgreens, which announced in October a plan to shutter some 1,200 “underperforming” stores over the next three years. Its stock had lost about half its value in the past year though Thursday’s close.

–Andrew Kessel

Major Indexes on Pace for Worst Week of 2025

2 hr 6 min ago

Heading into Friday’s session, the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite are each on track to post their biggest weekly losses of the year.

The Dow is down 2.9% so far this week, while the S&P 500 and Nasdaq have declined 3.6% and 4.1%, respectively.

So far in 2025, the Dow is just barely clinging to gains, up 0.1%. The S&P 500 is down 2.4% year-to-date, while the Nasdaq has dropped 6.4%.

Major Stock Index Futures Higher

2 hr 49 min ago

Futures tied to the Dow Jones Industrial Average were up 0.1%.

S&P 500 futures also added 0.1%.

Nasdaq 100 futures were up 0.2%.