What's Going On With Marvell Technology Stock Friday?

Dylan Berman

August 23, 2024

Marvell Technology, Inc. (NASDAQ:MRVL) shares are moving higher on Friday, along with other semiconductor stocks, following Federal Reserve Chair Jerome Powell‘s comments regarding the economy and future rate cuts.

What To Know: Powell’s speech at an annual economic conference in Jackson Hole, Wyoming supported interest rate cuts, according to Reuters.

“The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks,” said Powell.

The Federal Reserve Chair also expressed confidence that the inflation rate is on track to reach the Federal Reserve’s 2% target.

In addition, Powell mentioned that additional slowdown in the job market would be undesirable. He attributed the increase by almost a percentage point in unemployment over the last year to rising labor supply and slowed hiring.

What Else: Marvell Technology is anticipated to report 2024 fiscal year second quarter earnings on Tuesday after the market closes. Analysts estimate EPS of 30 cents and revenue of $1.25 billion.

Analyst Change: Earlier this week, Rosenblatt analyst Hans Mosesmann maintained a Buy rating on Marvell Tech and maintained a $100 price target.

See Also: What’s Going On With Chinese EV Stocks Like Nio, XPeng, Li Auto On Wednesday? (CORRECTED)

MRVL Price Action: At the time of writing, Marvell Technology shares are moving 3.03% higher at $70.73, according to data from Benzinga Pro.

Image: Photo via Shutterstock

Recommended

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The Tesla Shock Nobody Sees Coming - Ad

The Unlikely Duo Rethinking Wearable Technology - Ad

Warren Buffett has shifted his investment strategy, investing $459 million in Sirius XM after selling his stakes in Bank of America, JPMorgan Chase, and Wells Fargo.

A judge resisted Trump’s order on gender identity. The EEOC just fired her

The federal agency charged with protecting workers’ civil rights has terminated a New York administrative judge who , including President Donald Trump’s executive order decreeing male and female as .

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Jeff Bezos, Lauren Sanchez Get Married In A $50 Million Wedding In Venice: From Foam Party On His $500 Million Yatch To Goodie Bags, Here's What We Know

Jeff Bezos and Lauren Sánchez's extravagant $50 million wedding in Venice included a foam party on his $500 million yacht.

Bernie Sanders Shares First Thing He Would Do As President — And It Could Be A Jab At Elon Musk

Bernie Sanders lost the 2016 and 2020 presidential races. In a recent interview, Sanders shared what he would do first if he were president.

Wall Street Says BUY GOLD, But...

Wall Street Says BUY GOLD, But... - Ad

While markets wobble, gold keeps smashing records-and banks say it's just beginning. Goldman urges "buy gold" to hedge trade wars; JPMorgan plans $6,000 an ounce and just took delivery of $4 billion in bullion. Yet past bull runs saw 13x-1,000x bigger gains without buying more gold.

Trump vents online about service provider after conference call marred by glitch

WASHINGTON (AP) — On Monday afternoon, the president of the United States was just another person complaining online about his service provider.

Goldman Just Launched Two New Bond ETFs; Here's Why Investors Should Pay Attention

Goldman Sachs Asset Management debuts two new actively managed fixed income ETFs in response to rising demand for active strategies in a volatile rate landscape.

Fox: China Is Hiding a '401K Nuke Switch' Under Trump's Nose

Fox: China Is Hiding a '401K Nuke Switch' Under Trump's Nose - Ad

China holds $784B in U.S. debt-and may trigger a dollar collapse. Gold is already soaring, with forecasts up to $6,000-$30,000. Protect your savings now. Claim the free 2025 Gold Guide and discover a Trump-era IRS loophole to buy gold tax- and penalty-free.

Quantum Stocks Surge And Stumble: Here's What Happened This Week

Quantum Computing announced a $200 million private placement, Microsoft's CEO said quantum computing could take scientific advancements to the next level and more from the week.

Nike soars on a production shift away from China, but it warns of a $1 billion tariff hit

Nike's shares jumped at the opening bell Friday after the company said it's shifting some production away from China. But it also warned that tariffs imposed by the Trump administration will cost it about $1 billion before it makes internal changes, which include “surgical” price increases in the U.S. starting this fall.

The Missing Ingredient for Big Tech's $3T Recipe?

The Missing Ingredient for Big Tech's $3T Recipe? - Ad

Big Tech doesn't build everything; they buy what's next. And only Emteq's tech offers real behavior insights for smart glasses, key to unlocking the $3T XR market. Their patented sensors track live facial muscle movements. With health-focused smart glasses in demand, only Emteq has this tech.

These are the celebs who are attending Jeff Bezos’ Venice wedding

VENICE, Italy (AP) — arrived in Venice on Thursday, leading a star-studded guest list of celebrities descending on the lagoon city for the weekend wedding of Amazon founder Jeff Bezos and Lauren Sánchez.

T-Mobile Stock (TMUS) Plunges After SoftBank's $4.8B Share Sale: Report

T-Mobile stock is down over 4% after SoftBank reportedly sold $4.8 billion in shares at a discount. This major share sale by a key investor is contributing significantly to the stock's decline Tuesday.

FDA Submission Expected This Summer - Invest Before It Happens

FDA Submission Expected This Summer - Invest Before It Happens - Ad

This company is making heart disease easier to detect with AI. Their tech has officially been designated a "Breakthrough" by the FDA. You now have an opportunity to get in at a potential inflection point.

Canadian Prime Minister Carney says trade talks with US resume after Canada rescinded tech tax

TORONTO (AP) — Canadian Prime Minister Mark Carney said late Sunday trade talks with U.S. have resumed after Canada rescinded its plan to tax U.S. technology firms.

Greenland has a message for the rest of the world: Come visit

NUUK, Greenland (AP) — has a message for the rest of the world: We’re waiting for you.

Is Elon's Empire Crumbling?

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

Japan launches a climate change monitoring satellite on mainstay H2A rocket's last flight

TOKYO (AP) — Japan on Sunday launched a satellite to monitor greenhouse gas emissions using its mainstay rocket, which made its final flight before it is replaced by a new flagship designed to be more cost competitive in the global space market.

Sam Altman Warns Users Not To Blindly Trust ChatGPT Despite Its Rising Fame, Says 'AI Hallucinates, It Should Be The Tech That You Don't Trust That Much'

Sam Altman, the CEO of OpenAI, has cautioned against the unreserved trust that users have been placing in the company's AI chatbot, ChatGPT, despite its increasing popularity.

Back This Medical AI Tech

Back This Medical AI Tech - Ad

You don't often find healthcare tech company valued at $4M. HeartSciences is an exception. With $75M invested, including R&D, clinical trials, and product development, their patented AI software is approaching FDA submission, a potential major inflection point.

California energy regulator recommends pause on plan to penalize excess oil profits

SACRAMENTO, Calif. (AP) — California should pause Gov. Gavin Newsom's plan to penalize oil companies if their profits climb too high, a top energy regulator said Friday while unveiling proposals aimed at addressing high gas prices.

How Senate Republicans want to change the tax breaks in Trump's big bill

WASHINGTON (AP) — House and Senate Republicans are taking slightly different approaches when it comes to the tax cuts that lawmakers are looking to include in their massive

A Historic Gold Announcement Is About to Rock Wall Street

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Nations are meeting to drum up trillions to combat poverty — but the US isn't going

UNITED NATIONS (AP) — Many of the world’s nations are gathering starting Monday in Spain for a high-level conference to tackle the and try to drum up trillions of dollars needed to close it. The United States, previously a major contributor, pulled its participation, so finding funding will be tough.

North Koreans swim and play at a beach resort touted as a boost for tourism

SEOUL, South Korea (AP) — North Koreans swam, rode water park slides and enjoyed other water activities at a newly opened state media reported Wednesday, as the country largely maintains a ban on the entry of foreign tourists.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

US Stocks Likely To Open Higher, Continuing Record-Setting Advances: June Has Never Seen An All-Time High Since 1950, Highlights Expert

U.S. futures rose on Monday after a record close on Friday. Futures of major benchmark indices were trading higher.

Iran’s president orders country to suspend cooperation with UN nuclear watchdog IAEA

DUBAI, United Arab Emirates (AP) — Iran’s president on Wednesday ordered the country to suspend its cooperation with after American and Israeli airstrikes hit its most-important nuclear facilities, likely further limiting inspectors' ability to track Tehran's program that had been enriching uranium to near weapons-grade levels.

The Unlikely Duo Rethinking Wearable Technology

The Unlikely Duo Rethinking Wearable Technology - Ad

Why did a surgeon and Snap exec team up? They saw the missing ingredient in the $84T wearables market: behavior. So they built Emteq and invented smart glasses sensors to track real-time expressions, unlocking insights into why we do things. With a $15M term sheet already secured, Emteq is what Big Tech's missing.

Nike Beats The Street And Says The Worst Is Over

Nike Inc (NKE) stock rallies after upbeat fiscal Q4 results. Analysts maintain Buy ratings, raise price targets, citing potential for growth.

Republicans hit major setback in their effort to ease regulations on gun silencers

WASHINGTON (AP) — Republican efforts to loosen regulations on and short-barreled rifles and shotguns have been dealt a big setback with the Senate parliamentarian advising that the proposal would need to clear a 60-vote threshold if included in their big tax and immigration bill.

How to Hack a $1.3T Market

How to Hack a $1.3T Market - Ad

US brings charges in North Korean remote worker scheme that officials say funds weapons program

WASHINGTON (AP) — The Justice Department announced criminal charges Monday in connection with a scheme by North Korea to fund its weapons program through the salaries of remote information technology workers employed unwittingly by U.S. companies.

Meta, KKR, Lululemon And An Industrial Stock On CNBC's 'Final Trades'

Experts predict KKR, Lululemon, Meta Platforms, and Rockwell Automation to perform well.

Wall Street Says BUY GOLD, But...