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Earnings:Bank of Nova Scotia (NYSE: BNS) - consensus EPS $0.73Staples (Nasdaq: SPLS) - consensus EPS $0.41, revs $7.03BAfter Market Closes:Earnings:Marvell Technology Group (Nasdaq: MRVL) - con...
Marvell (MRVL) shares are under pressure ahead of the company’s expected announcement tomorrow of results for its fiscal third quarter ended October, as the Street brings down estimates in the face of weakening demand.
Deutsche Bank’s Arnab Chanda this morning trimmed estimates for the company, citing weakness “across all business lines,” with inventory reduction in the hard-drive sector and at Research In Motion (RIMM), and loss of share in the WiFi sector. Chanda thinks the company will announced a 5% expense reduction plan. He sees the company reporting results for the quarter at the low
Marvell(MRVL) is likely to reduce its head count by 10%-20% by the close of its fiscal year ending in January, Pacific Crest analyst Ruben Roy asserts in a research note this morning.
Conditions in the chip business continue to get worse. In fact, Friedman Billings Ramsey analyst Craig Berger this morning writes that “trends are worsening faster than we can cut estimates.” Well, not really. This morning, Berger chopped estimates and target prices for 10 stocks; he also downgraded Linear Technology (LLTC) and Maxim Integrated (MXIM) to Underperform from Market Perform, while lowering National Semiconductor to Market Perform from Outperform.
“Visibility is not stabilizing or improving but rather deteriorating further,” creating “additional downside risk or limited upside re
Outlook for Marvell?
- Some of my north Cal friends work there. Why has Marvell price been going up in the last few months?
Is this a good time to get in? How will it lo
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About Marvell Technology Group Ltd
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