For 4Q16, $AVGO’s revenues came in at the top end of guidance,
primarily due to better seasonality from the Wireless and Enterprise Storage
segments. The Wired segment represented 50% of total revenue. The company
benefited from increased demand for networking ASICs into data centers and
strong fiber optic shipments into metro networks.
$CAG, which completed the spin-off of its Lamb Weston business on Nov. 9, 2016 declared its first dividend since the completion of the spin-off. A dividend of $0.20 per share of $CAG common stock will be paid on March 1, 2017, to stockholders of record as of Jan. 30, 2017.
$FRED reported sales for four-week fiscal month ended Nov. 26, 2016 of $159.7MM, down 3.6% from $165.7MM in Nov. 2015. Comparable store sales for Nov. declined 2.9% compared to an increase of 1.7% in the year-earlier month.
Discount retailer $FRED reported a loss for 3Q16, due to charges
totaling $38MM after tax, mainly related to inventory
write-downs and closing of 40 stores scheduled to occur in 1H17. $FRED reported
a net loss of $38.4MM or $1.05 per share compared to a net income of $1.44MM or
$0.04 per share in 3Q15. Revenue fell 4.5% to $516.65MM.