Marvell Technology, Dell, and Other Major Stocks Decline in Pre-Market Trading on Friday

U.S. Stock Market Overview

• Market Futures: U.S. stock futures are down, with Dow futures dropping over 100 points on Friday morning.

Marvell Technology, Inc. Performance

• Earnings Report: Marvell reported quarterly earnings of 67 cents per share, surpassing the analyst estimate of 66 cents. However, its revenue of $2.006 billion fell short of the expected $2.009 billion.
• Future Guidance: For the third quarter, Marvell anticipates adjusted earnings between 69 cents and 79 cents per share, below the 72-cent estimate, and revenue between $1.957 billion and $2.163 billion, compared to the $2.105 billion forecast.
• Stock Reaction: Following the guidance, Marvell's shares plummeted 14.7% to $65.87 in pre-market trading.

Other Notable Stock Movements

• TryHard Holdings Limited: Shares fell 10.3% to $5.38 after a significant 50% increase the previous day.
• Asset Entities Inc.: Experienced an 8.1% decline to $6.15 after a 13% rise on Thursday.
• Inventiva S.A.: Dropped 7.8% to $5.85 following a 21% gain the day before.
• Dell Technologies Inc.: Shares decreased by 6.7% to $125.50 despite reporting stronger-than-expected second-quarter earnings. Dell expects third-quarter revenue between $26.5 billion and $27.5 billion, exceeding the $26.05 billion estimate, but anticipates adjusted earnings of $2.45 per share, slightly below the $2.55 estimate.
• NatWest Group plc: Fell 5.5% to $13.81 in pre-market trading.
• MasterBeef Group: Declined 4.8% to $12.08 after a 46% surge on Thursday.
• Lloyds Banking Group plc: Shares dropped 4.4% to $4.27.

Additional Market Insights

• Autodesk Stock: Notably, Autodesk's stock jumped 10% following strong Q2 earnings.
• Stock Performance Metrics: Various stocks are experiencing significant fluctuations, with Marvell Technology showing a notable 14% drop, while other companies like Dell and Inventiva also faced declines despite previous gains.