real-time news and commentary for investors
Friday, Oct 19
2012, 10:06 AM
AMD (AMD -6.3%) and Marvell (MRVL -11.9%) get downgraded to Market Perform by FBR's Craig Berger...
AMD (AMD -6.3%) and Marvell (MRVL -11.9%) get downgraded to Market Perform by FBR's Craig Berger after providing more bad news (I, II) yesterday afternoon. Berger is worried about AMD's cash burn, lack of gross margin guidance, and upcoming price cuts, and thinks Marvell's loss of CFO Clyde Hosein is an indictment of its "culture and founder-CEO control" - he considers rival LSI a better buy. Also downgraded is Nvidia (NVDA -2.1%), for which Berger cites general PC worries. (AMD transcript)