8 minutes ago
Analysts say Marvell Technology’s earnings are expected to be in line with expectations
Some on Wall Street are cautioning against getting too excited about Marvell Technology’s earnings on Thursday.
Analysts at JPMorgan and Raymond James told clients in notes Monday that they both expect the company’s fiscal second quarter to be in line with what they had expected. JPMorgan is overweight on the stock, while Raymond James is rated outperform.
“We see the current headwinds as being largely cyclical/short-term in nature, and we believe the company continues to implement LT growth initiatives and should drive growth above the industry in the medium/long term,” said Harlan Sore, analyst at JPMorgan.
Shares were up nearly 4% in Monday’s session.
See chart…
Marvell technology, day one
23 minutes ago
Stocks make the biggest moves after hours
Here are the stocks that are making the biggest moves in extended trading.
Zoom – Shares jumped nearly 4% after the company reported an increase in earnings and revenue during its fiscal second quarter. Zoom reported earnings of $1.34 per share on revenue of $1.14 billion. Analysts estimated earnings per share at $1.05 on revenue of $1.12 billion, according to Refinitiv. Meanwhile, the company’s guidance for the current quarter came in slightly below analysts’ expectations.
Fabrinet — Shares of the advanced manufacturing services company rose more than 18% after its fiscal fourth-quarter results outperformed both the top and bottom line. The company’s CEO, Seamus Grady, said that the very strong growth in data communications revenue and new artificial intelligence products led the company to record record performance in fiscal 2023.
– Hakyung Kim
38 minutes ago
Stock futures open lower
US stock futures fell on Monday.
Dow Jones Industrial Average futures fell 27 points, or 0.08%. Meanwhile, S&P 500 and Nasdaq 100 futures fell 0.1%.
– Hakyung Kim
“Infuriatingly humble alcohol fanatic. Unapologetic beer practitioner. Analyst.”