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GE cuts 12K jobs, Broadcom boosts long-term forecast, AT&T meets DOJ

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

Huge cuts at General Electric (GE). The company is axing 12,000 jobs at its global power business. The move comes as demand for fossil fuels declines. GE says the cuts will save it $1B in 2018.

Shares of Broadcom (AVGO) are soaring in the early going. The semiconductor company boosted its dividend and its long term forecasts. Broadcom also posted a big beat on its top and bottom lines for last quarter. The earnings come as Broadcom continues its fight to buy rival chipmaker Qualcomm.

AT&T (T) is meeting the Department of Justice in court. The two will try to set a date for the anti-trust trial surrounding the AT&T-Time Warner (TWX) merger. The government is pushing for a May date while AT&T is pushing to start proceedings in February. If AT&T doesn’t close the deal by April 22nd, it must pay Time Warner a $500 million breakup fee.

Sticking to the courtroom, Lego just won a landmark case in China. The toymaker won a copyright case against two companies that produced and sold toy sets almost identical to its LEGO Friends series. The Chinese brands will now have to stop copying Lego’s packaging and logos or face penalties.