3 minutes ago
Analysts expect Marvell Technology earnings to be in line with expectations
Some on Wall Street are warning about too much excitement over Marvell Technology’s earnings on Thursday.
Analysts at JPMorgan and Raymond James told clients in notes Monday that they expect the company’s fiscal second quarter to be in line with what they had expected. JPMorgan is overweight in the stock, while Raymond James has an outperformance rating.
“We see that the current headwinds are largely cyclical/short-term in nature, and we believe the company continues to implement its LT growth initiatives and should drive above-industry growth in the medium/long term,” said JPMorgan analyst Harlan Sur.
Shares rose about 4% in Monday’s session.
see chart…
Marvell Technology, day one
18 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 earnings and exceeding revenue for its fiscal second quarter. Zoom reported earnings of $1.34 per share on revenue of $1.14 billion. Analysts estimated earnings per share of $1.05 on revenue of $1.12 billion, according to Refinitiv. Meanwhile, the company’s guidance for the current quarter came in just below analysts’ expectations.
Fabrinet — Shares of the advanced manufacturing services company jumped more than 18% after its fiscal fourth-quarter results beat both top and bottom earnings. The company’s CEO, Seamus Grady, said the very strong growth in data communications revenue and new artificial intelligence products led the company to achieve record performance in fiscal 2023.
– Hakyung Kim
33 minutes ago
Stock futures open lower
US stock futures fell on Monday.
Dow Jones Industrial Average futures were down 27 points, or 0.08%. Meanwhile, S&P 500 and Nasdaq 100 futures fell 0.1%.
– Hakyung Kim
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