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

Inside: What's Going on Behind the Scenes in DC? - Ad

Trump Signs Law to Launch Dollar 2.0 - Ad

Legally "Skim" $6,361 Into Your Account? - Ad

Popular

Velo3D Stock Soars After Q3 Earnings: Highlights From The Report

Shares of Velo3D, Inc. (NASDAQ:VELO) are rising Tuesday after the metal 3D printing company reported third-quarter earnings results.

December Social Security Payments Might Come Early — But There's a Catch

The Social Security Administration is altering its payment schedule for December.

The Smart Money Copper Trade

The Smart Money Copper Trade - Ad

Only one lines up grade, scale potential, and Quebec power like this. Insider alignment is real. Stepouts are opening new zones. With EVs and grid buildouts rising, this could be the timely copper idea you have been waiting for.

Trump attacks ABC News correspondent Mary Bruce in angry response to three sharp questions

NEW YORK (AP) — President Donald Trump denounced ABC News' Mary Bruce as a “terrible reporter” Tuesday and threatened the network's license to broadcast after she asked him three sharp questions at the White House.

Joan Branson, wife of British billionaire Richard Branson, dies at 80

Joan Branson, the wife of British billionaire Richard Branson, has died at age 80.

$270,000 Drug. One Competitor. Billion-Dollar Market.

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

Phase 3 trial targets recurrent pericarditis with an oral therapy that could disrupt the only approved treatment. And their heart failure program launches in 2026.

Silver Soars To Record Highs: It's Up 95% In 2025, The Best Year Since 1979

Silver prices surge over 5% as investors rush to secure metal amid tight supplies and global shortage concerns, driving up stocks and mining equities.

Iran confirms seizure of oil tanker in the Strait of Hormuz

TEHRAN, Iran (AP) — Iran on Saturday confirmed as it traveled through the narrow Strait of Hormuz over violations including carrying an illegal consignment, state media reported.

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

AI, electrification, battery storage, and data centers are pushing copper and silver demand sharply higher, even as supply stays tight. This region in Nevada offers rare multi-metal potential, and a new company has secured land in a district the surging district. It's one of the cleanest timing setups in the sector right now.

Watchdog group Public Citizen demands OpenAI withdraw AI video app Sora over deepfake dangers

The tech industry is moving fast and breaking things again — and this time it is humanity’s shared reality and control of our likeness before and after death — thanks to artificial intelligence image-generation platforms .

Trump Bars South Africa From 2026 G20 Summit In Florida, Freezes Aid Over 'White Genocide'

President Donald Trump directed that South Africa will not be invited to the 2026 G20 Summit in Miami, Florida. He also declared that all U.S. payments and subsidies to the country would be immediately suspended.

The Smart Money Copper Trade

The Smart Money Copper Trade - Ad

Quebec discovery. Strong grades. Roads and hydro in place. Funding secured for a busy drill calendar. Each assay can build scale and tighten the window for early entries as EVs and data centers pull harder on copper. Do not wait.

Cathie Wood Bets Big On These Stocks As Bitcoin, Ethereum Crash —Dumps Instagram Rival

On Tuesday, Cathie Wood-led Ark Invest made significant trades, notably increasing its holdings in Bullish (NYSE:BLSH), Coinbase Glo

Nvidia, Dell, Coinbase, Gorilla Technology And Archer Aviation: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks closed lower on Monday, with the Dow slipping 1.2% to 46,590.24, the S&P 500 easing 0.92% to 6,672.41, and the Nasdaq dipping 0.84% to 22,708.07. These are the top stocks that gained the attention of retail traders and investors through the day:

The Next Biggest Bull Run In Over 50 Years

The Next Biggest Bull Run In Over 50 Years - Ad

Gold has hit all-time highs, breaking $4,000 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

Trump's $2,000 Tariff Dividend Stumbles On Math: Cost Far Exceeds Revenue

Trump's $2,000 tariff rebate plan faces a major math gap, with estimated costs up to $606.8B—far exceeding tariff revenues in 2025 and 2026, says the Tax Foundation.

All 14 victims identified from fiery UPS cargo plane crash in Louisville

LOUISVILLE, Ky. (AP) — A grandfather and his young granddaughter. An electrician with two young children. A woman standing in line at a scrap metal business.

The $43B Big Pharma Story is Starting Over-With a New Player

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Big Pharma once paid $43B for a small biotech with a similar platform. Now, a new company is following that same playbook, leveraging its patented delivery technology to attract partnerships and near-term revenue potential.

Trump's Approval Rating Hits New Low: Voters Blame Republican Party For Government Shutdown

A new voter poll shows Donald Trump and the Republican party losing support as the government shutdown continues.

White House's 50-year mortgage proposal has one notable benefit but a number of drawbacks

NEW YORK (AP) — The White House says it is considering backing a 50-year mortgage to help alleviate the home affordability crisis in the country. But the announcement drew immediate criticism from policymakers, social media and economists, who said a 50-year mortgage would do little to resolve other core problems in the housing market, such as a lack of supply and high interest rates.

Weiss Gold Veteran Makes Shocking New Call

Weiss Gold Veteran Makes Shocking New Call - Ad

Weiss expert Sean Brodrick went out on a limb last year and declared a historic event would send the yellow metal to $3,150. People laughed at him at the time, but he was off by just two days. Now, Sean has a shocking new prediction for gold ... and reveals a little-known way to get ahead of this bull market.

Piper Sandler Set For Best-In-Class Growth As Banking Cycles Turn: Analyst

Piper Sandler (PIPR) upgraded to Buy by Goldman Sachs with a target price of $386, projecting an 18% upside.

An archaeologist is racing to preserve Sudan's heritage as war threatens to erase its cultural past

PARIS (AP) — In a dimly lit office in a corner of the French National Institute for Art History, Sudanese archaeologist Shadia Abdrabo studies a photograph of pottery made in her country around 7,000 B.C. She carefully types a description of the Neolithic artifact into a spreadsheet.

Inside: What's Going on Behind the Scenes in DC?

Inside: What's Going on Behind the Scenes in DC? - Ad

Former CIA officer Buck Sexton just met with Trump and VP J.D. Vance - and what he uncovered inside the West Wing is stunning. With ties to Tulsi Gabbard, Mike Johnson, Kash Patel, and more, he's rushing this urgent interview to reveal shocking secrets unfolding behind the scenes right now.

Preliminary findings show a fatigue crack caused a Keystone Pipeline oil spill in North Dakota

BISMARCK, N.D. (AP) — A fatigue crack in the led to an that released thousands of barrels of oil onto farmland, according to the pipeline operator.

DOJ Greenlights Strikes on Drug Boats, Citing Fentanyl as Potential Chemical Weapon

The DOJ has classified Fentanyl as a potential chemical weapon. This classification has led to the authorization of strikes on drug-smuggling boats.

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Swiss voters reject mandatory national service for women and new inheritance tax

GENEVA (AP) — Swiss voters on Sunday decisively rejected a call to require women to do national service in the military, civil protection teams or other forms, as all men must do already.

Canada's prime minister and Alberta's premier sign pipeline deal that could reverse oil tanker ban

TORONTO (AP) — and the premier of Canada’s oil rich province of Alberta agreed Thursday to work toward building a pipeline to the Pacific Coast to diversify the country’s oil exports beyond the United States, in a move that has caused turmoil in Carney's inner circle.

Legally "Skim" $6,361 Into Your Account?

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

Trump Asks Sanae Takaichi Not To Provoke China After Japan PM Hinted At Military Action Over Taiwan Invasion

Trump urges Japan's PM not to provoke China over Taiwan. Tensions rise as Japan refuses to retract remarks about possible military action.

Sweden promises action against illegal sex doll sales

BERLIN (AP) — The Swedish government promised on Friday to fight the sale of childlike sex dolls online after instances of such commerce had been reported earlier in the country.

The Smart Money Copper Trade

The Smart Money Copper Trade - Ad

Nokia Secures Multi-Year Pact To Power Telecom Italia's 5G Expansion

Nokia (NYSE: NOK) secures 3-year deal with Telecom Italia (OTC: TIIAY) to expand 5G coverage in Italy using latest equipment.

Dogecoin Cheers Debut Of ETF That Aims To Multiply Its Returns: 'Much Congrats'

Dogecoin (CRYPTO: DOGE) cheered the launch of a new exchange-traded fund on Wall Street on Thursday that aims to provide leveraged exposure to the popular meme coin

$270,000 Drug. One Competitor. Billion-Dollar Market.

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

Phase 3 trial targets recurrent pericarditis with an oral therapy that could disrupt the only approved treatment. And their heart failure program launches in 2026.

Full blackout hits the Dominican Republic as crews scramble to restore power

SANTO DOMINGO, Dominican Republic (AP) — A rare blackout hit the entire on Tuesday, snarling traffic and paralyzing businesses in the country of nearly 11 million people.

Rahm Emanuel Urges Democrats To Get Tougher on Crime

Rahm Emanuel is urging Democrats to adopt a tougher, community-focused crime strategy as he weighs a potential 2028 presidential run.

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

Jim Cramer's '10 Stocks To Own For The Future' In 2000 Cost This Redditor A Decade Of Retirement, Says Having To Work 10 More Years Was 'Painful'

A Reddit user slammed Jim Cramer's stock picks at the peak of the Dot-Com bubble, saying that the CNBC host's suggestions cost him a decade of retirement.

Trending Now