Shares of Marvell Technology, Inc. (NASDAQ: MRVL) fell sharply during Friday’s session after the company reported fourth-quarter financial results and issued weak Q1 guidance.
Marvell said fourth-quarter revenue increased 1% year-over-year to $1.427 billion, which beat the consensus estimate of $1.42 billion. The chip designer reported quarterly earnings of 46 cents per share, which was in line with analyst estimates.
Marvell sees first-quarter revenue of $1.15 billion, plus or minus 5%, versus estimates of $1.371 billion. The company sees first-quarter adjusted earnings of 23 cents per share, plus or minus 5 cents per share, versus estimates of 40 cents per share. The company authorized a $3 billion buyback.
Marvell Technology shares dipped 9.6% to $76.91 on Friday.
Here are some other stocks moving in today's mid-day session.
Gainers
Ainos, Inc. (NASDAQ: AIMD) jumped 140% to $2.6899 after dipping 18% on Thursday.
Psyence Biomedical Ltd. (NASDAQ: PBM) shares climbed 139% to $3.0350. Psyence Biomedical recently announced its subsidiary, Psyence Australia, received Human Research Ethics Committee approval to initiate its Phase IIb study.
Safe and Green Development Corporation (NASDAQ: SGD) shares jumped 138% to $1.57 after the company announced financing for the Norman Berry Expansion in Atlanta, Georgia.
MIRA Pharmaceuticals, Inc. (NASDAQ: MIRA) shares climbed 48.5% to $1.36. MIRA Pharmaceuticals, last month, announced a research collaboration with Pharmaseed to research and evaluate Ketamir for patients with major depressive disorder and post-traumatic stress disorder.
CERo Therapeutics Holdings, Inc. (NASDAQ: CERO) shares climbed 35.4% to $4.17 after surging over 20% on Thursday. CERo Therapeutics recently announced the publication of preclinical research analyzing CER-1236 in targeting Acute Myelogenous Leukemia tumor cells from human patients.
Willdan Group, Inc. (NASDAQ: WLDN) gained 30.4% to $25.89 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance above estimates. Also, the company secured a contract worth approximately $30 million to $50 million over three years.
The Joint Corp. (NASDAQ: JYNT) gained 29% to $11.80 following fourth-quarter results.
Smith & Wesson Brands, Inc. (NASDAQ: SWBI) jumped 25.8% to $16.91 after the company reported better-than-expected third-quarter financial results.
Research Frontiers Incorporated ...
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