Market Currents

• Today - Wednesday, December 30, 2009

• 09:20 AM Kaufman hikes Marvell (MRVL) and Nvidia (NVDA) to Buy on expectations of an improving PC market. Firm also says MRVL stands to benefit from its efforts to diversify outside its core storage business, while NVDA shares could see gains after Intel (INTC) recently de-emphasized its efforts to gain share in the graphics chip market. MRVL +1.6% premarket. NVDA +1.8%. Comment!

• Friday, December 4, 2009

• 09:00 AM Premarket gainers: BIG +13%. SNV +10%. LDK +10%. MRVL +9%. RDN +6%. GT +6%. JAVA +6%. AKAM +5%. RMBS +5%. SEED +5%. STEM +5%. PMI +4%. SOLF +4%. ID +4%. MTG +4%. RF +4%.
  Losers: TTWO -31%. SWHC -14%. GSS -8%. REG -5%. WES -5%. NG -4%. Comment!

• Thursday, December 3, 2009

• 16:30 PM Marvell Technology Group (MRVL): Q3 EPS of $0.35 beats by $0.08. Revenue of $803M (+2%) vs. $770M. Shares +3.7% AH. (PR) Comment!
• 00:10 AM Notable post-market earnings: MRVL, NOVL, SWHC Comment!

• Thursday, November 19, 2009

• 10:48 AM BofA Merrill downgrades eight chip stocks, noting inventory levels will soon overshoot demand, increasing the risk of a supply chain correction. Downgraded to Neutral: Intel (INTC -5.5%), LSI Logic (LSI -3.9%), Marvell Tech (MRVL -6.6%) and TI (TXN -3.6%). Cut to Underperform: Microchip Tech (MCHP -5.1%), Maxim Integrated (MXIM -5.3%), National Semi (NSM -6%) and Power Integrations (POWI -4.1%). Comment!

• Wednesday, November 11, 2009

• 09:26 AM Ali T. Far, a chief witness in the Galleon insider-trading case, says he paid an executive at Marvell Technology Group (MRVL) to feed him privileged information that he then traded on. The disclosure marks the allegation of money changing hands in exchange for providing inside tips. Comment!

• Monday, October 26, 2009

• 09:00 AM Premarket gainers: IO +24%. SUPG +22%. ELGN +19%. ALD +16%. VVUS +13%. BCRX +11%. NVTL +10%. ARNA +8%. MPS +7%. HEB +6%. SVA +5%. MRVL +5%. CVM +5%. RSH +4%. NVAX +4%. CIT +4%.
  Losers: PVTB -15%. SOHU -9%. ING -8%. CYOU -8%. TMS -8%. TIVO -4%. Comment!

• Friday, August 28, 2009

• 09:00 AM Premarket gainers: SVA +19%. OVTI +15%. ARUN +14%. CIT +12%. JCG +8%. AIG +8%. TIF +7%. MRVL +7%. ABK +7%. MBI +5%. PMI +5%. ZQK +5%. DELL +5%. CHU +4%. C +4%.
  Losers: ALTH -8%. Comment!

• Thursday, August 27, 2009

• 16:34 PM Marvell Technology Group (MRVL): Q2 EPS of $0.18 beats by $0.04. Revenue of $641M (-24%) vs. $620M. Shares -0.9% AH. (PR) Comment!
• 00:10 AM Notable earnings after Thursday's close: ARUN, DELL, JCG, MCRS, MRVL, NOVL Comment!

• Tuesday, July 7, 2009

• 09:00 AM Premarket gainers: GY +20%. AEZS +7%. LSI +6%. DDSS +5%. MRVL +4%. MT +4%.
  Losers: HNSN -34%. DFS -8%. INSM -5%. NVAX -5%. Comment!
• 06:39 AM Merrill Lynch raises its view on the semiconductor sector, forecasting 21% revenue growth in 2010 vs. 14%. Upgrades Intel (INTC), Marvell (MRVL), LSI (LSI) to Buy, and Maxim Integrated Products (MXIM), National Semiconductor (NSM) to Neutral. INTC +0.8% premarket. Comment!

• Wednesday, June 10, 2009

• 09:01 AM Marvell (MRVL) agrees to pay $72M to settle a shareholders class action lawsuit over stock options backdating. The settlement is subject to court approval. Comment!

• Thursday, May 28, 2009

• 16:53 PM Marvell Tech (MRVL) reports Q1 EPS of 5c, in line with estimates. Q1 revenue of $521.4M beats by $4M. [PR] Comment!
• 00:10 AM Notable earnings after Thursday's close: DELL, JCG, MRVL, NOVL, SINA Comment!

• Thursday, May 21, 2009

• 13:27 PM What do you do with a $40 computer the size of a plug adapter and with no display? Better think of something fast, because Marvell Technology (MRVL) is rolling the mini-computer out and says the uses are 'endless.' 1 Comment