Broadcom Inc. (NASDAQ:AVGO) and Vmware, Inc. (NYSE:VMW) shares are trading higher Thursday following a report suggesting that China’s State Administration for Market Regulation is expected to grant Broadcom conditional antitrust approval for its acquisition of Vmware.
What To Know: According to CNBC’s Jim Cramer, Broadcom shares will gain considerably pending the $60 billion transaction. Cramer also praised the company’s artificial intelligence efforts.
He also noted the gain in both stocks Thursday despite the risk-averse sentiment putting pressure on equities due to a hotter-than-expected consumer price index report.
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AVGO, VMW Price Action: Shares of AVGO were up 3.09% at $901.56 while shares of VMW were up 3.81% at $178.01 at the time of publication, according to Benzinga Pro.
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