Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Broadcom Corporation (BRCM): Today’s Three Worst Stocks

Stocks traded modestly higher on Wednesday as Federal Reserve Chairman Ben Bernanke made it abundantly clear to Congress and the public that the central bank has no idea when or how it will start tapering asset purchases. Committing only to respond to economic data in a sensible way, Wall Street cheered the fact that Bernanke is open to printing even more money if the economy begins to struggle again. The S&P 500 Index added four points, or 0.3%, to end at 1,680, a day after the index pulled back from all-time highs. But shares in today’s three worst performers weren’t able to capitalize on Wall Street’s upbeat mood in the least.

Broadcom Corporation (NASDAQ:BRCM)Chip maker Broadcom Corporation (NASDAQ:BRCM) was one of the S&P’s more notable decliners, sliding 3.6% as investors reacted to news that the company is losing an important customer. Broadcom will no longer be used by Samsung as the combo-chip provider for the newest Samsung Galaxy S 4 mini smartphone, according to a Barclays PLC (ADR) (NYSE:BCS) analyst. The combo chip, which allows for Bluetooth and Wi-Fi WLAN compatibility, is now being supplied by Broadcom rival QUALCOMM, Inc. (NASDAQ:QCOM), according to the report.

Sprint Nextel Corporation (NYSE:S) shares, which have landed on this list for a second straight day, slipped 3.6%, as downward momentum drove the stock lower. Shares also fell 3.6% yesterday, as the stock cooled down after a sudden four day run-up that saw shares soar more than 20%. Sprint rival AT&T Inc. (NYSE:T) just announced a new program that allows customers to pay an extra monthly fee for the right to more frequent smartphone upgrades as the telecom giants gun for one another’s customers.

Finally, turnaround prospect J.C. Penney Company, Inc. (NYSE:JCP) is still finding it difficult to turn that first major corner and show definitive signs of improvement. Credit Suisse Group AG (ADR) (NYSE:CS), for one, believes that recently slashed prices of the retailer’s home merchandise may be harming the company. J.C. Penney shares fell 3.3% following Credit Suisse’s lowered margins outlook for the second quarter.

The article Today’s 3 Worst Stocks originally appeared on and is written by John Divine.

Fool contributor John Divine has no position in any stocks mentioned. You can follow him on Twitter @divinebizkid and on Motley Fool CAPS @TMFDivine.The Motley Fool owns shares of Qualcomm.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!