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Benzinga

Avi Kapoor

Marvell Technology, Dell And Other Big Stocks Moving Lower In Friday's Pre-Market Session

Dell Marvell Marvell Technology Dow

Guidance Tops Estimates

U.S. stock futures were lower this morning, with the Dow futures falling over 100 points on Friday.

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) fell sharply in pre-market trading after the company issued third-quarter sales guidance with a midpoint below estimates.

Marvell reported quarterly earnings of 67 cents per share, which beat the analyst estimate of 66 cents. Quarterly revenue came in at $2.006 billion which missed the Street estimate of $2.009 billion.

Marvell is looking for third-quarter adjusted earnings of between 69 cents and 79 cents per share, versus the 72-cent estimate, and revenue in a range of $1.957 billion to $2.163 billion, versus the $2.105 billion analyst estimate.

Marvell Technology shares dipped 14.7% to $65.87 in the pre-market trading session.

Here are some other stocks moving lower in pre-market trading.

TryHard Holdings Limited (NASDAQ:THH) fell 10.3% to $5.38 in the pre-market trading session after jumping 50% on Thursday.
Asset Entities Inc. (NASDAQ:ASST) declined 8.1% to $6.15 in pre-market trading after surging 13% on Thursday.
Inventiva S.A. (NASDAQ:IVA) fell 7.8% to $5.85 in pre-market trading after gaining 21% on Thursday.
Dell Technologies Inc. (NYSE:DELL) fell 6.7% to $125.50 in pre-market trading. Dell reported stronger-than-expected earnings for the second quarter. Dell said it expects third-quarter revenue to be between $26.5 billion and $27.5 billion, versus estimates of $26.05 billion. The company anticipates third-quarter adjusted earnings of $2.45 per share versus estimates of $2.55 per share.
NatWest Group plc (NYSE:NWG) slipped 5.5% to $13.81 in pre-market trading.
MasterBeef Group (NASDAQ:MB) declined 4.8% to $12.08 in pre-market trading after jumping 46% on Thursday.
Lloyds Banking Group plc (NYSE:LYG) fell 4.4% to $4.27 in pre-market trading.

Now Read This:

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