Abercrombie & Fitch jumps; Costco falls; Broadcom & Avago merge

Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.

Broadcom (BRCM) shares are on the move in early trading. The semiconductor maker is being bought by Singapore-based rival Avago Technologies for $37 billion in cash and stock. This is just the latest deal to hit the industry as chip manufacturers struggle to grow amid rising production and design costs.  Shares of Avago (AVGO) are higher on the news. Shares of both companies rose sharply on Wednesday on reports a deal was imminent.

Abercrombie & Fitch (ANF) shares are higher this morning even though the teen retailer reported a wider-than-expected loss in its first quarter and revenue also missed estimates.  The company, which is in the midst of turnaround, saw sales fall about 14% from a year earlier. The stronger dollar, weak demand and heavy discounts are among the factors being cited for the shortfall. However, Abercrombie said it expects sales trends improve throughout the year.

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Costco (COST) shares are lower in early trading. The warehouse-club chain reported earnings per share that beat by a penny.  However, revenue slightly missed estimates as same-store sales disappointed amid lower gas prices and a stronger dollar.

Google (GOOGL) shares also on investors’ radar. The company is getting ready to kick off its annual two-day developer conference today. It's widely expected that Google will unveil a spruced up Android operating system, which may include a platform for the Internet of Things and mobile payments.

Amazon.com (AMZN) is grabbing headlines this morning as well. The online retail giant is now offering Prime members free same-day delivery in 14 cities.  Orders of $35 dollars or more placed before noon will be delivered by 9 p.m. that day.