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

Exposed: Democrats' Secret Plan to Keep Trump Out of the White House - Ad

America's Slow Decline into Hell - Ad

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years - Ad

is reverting to its pre-pandemic policy and will require corporate employees to be five days a week starting next year, CEO Andy Jassy said Monday.

Stanley Cup champion Panthers agree to extend arena deal with Broward County through at least 2033

FORT LAUDERDALE, Fla. (AP) — The Stanley Cup champion Florida Panthers are extending their operating agreement with Broward County for five more years, ensuring that the team remains in the market through 2033 and likely well beyond.

Don't Tell ANYONE About This Altcoin (Until It Pops)...

Don't Tell ANYONE About This Altcoin (Until It Pops)... - Ad

Quiet now! This governance token could be the sleeping giant of the crypto world... In the next bull market, this "DeFi 2.0" powerhouse might soar 10x... 50x... perhaps even 100x.

The Coast Guard will hear from former OceanGate employees about the Titan implosion

U.S. Coast Guard officials investigating the implosion of an experimental watercraft en route to the wreck of the Titanic were scheduled Monday of the company that owned the Titan submersible.

Harris, Trump Films To Hit Theaters Weeks Before 2024 Election: One Candidate Tried To Block Movie From Release

Movies about Kamala Harris and Donald Trump hit theaters in October. Find out the differences between the movie and why one candidate wants a ban.

A New Drug Set to Outgrow Zoloft and Metformin--Invest Now

A New Drug Set to Outgrow Zoloft and Metformin--Invest Now - Ad

A new breakthrough drug is predicted to hit 250 million subscriptions in the next SIX YEARS, according to Morgan Stanley. Even better, a tiny company - trading for only $7 - holds key patents on this new drug. But it won't stay under the radar for much longer.

Elon Musk Laughs At The Idea Of Dick Cheney Supporting Kamala Harris For President

Elon Musk humorously commented on the recent endorsement of Kamala Harris by George Bush Jr.-era former Vice President Dick Cheney.

Harris Vs. Trump: Vice President, Former President Tied In Swing State, But One Candidate Dominates With Independent Voters

Donald Trump and Kamala Harris are tied in the battle for seven swing states in a new election poll. A look at the results and how one candidate may still be winning.

A 10,000% Dividend?!?

A 10,000% Dividend?!? - Ad

Have you seen this strange oil investment? It's NOT a stock, bond, or private company...It has NO age requirements...You do NOT need to be accredited to participate... And you can get in for as little as $25.

Top 2 Energy Stocks That Are Ticking Portfolio Bombs

Two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Bill Gates' Youngest Daughter Phoebe Celebrates 22nd Birthday With The 'Best Team': Microsoft Co-Founder And Melinda Celebrate Her On Instagram

Microsoft Co-founder Bill Gates and his ex-wife Melinda French Gates took to Instagram on Saturday to celebrate the 22nd birthday of their youngest daughter Phoebe Gates.

Discover the $2 Stock That Has Institutional Attention

Discover the $2 Stock That Has Institutional Attention - Ad

With a $1.3B market cap and forecasts to grow 2X faster than the sector, dozens of investment banks are betting big. Strong leadership, cash on hand, and a $3 target make it a must-see.

Huge payout expected for a rare coin bought by Ohio farm family and hidden for decades

TOLEDO, Ohio (AP) -- Three sisters from Ohio who inherited a dime kept in a bank vault for more than 40 years knew it had some value. But they had no idea just how much until just a few years ago.

Trump Vs Harris: The Controversy Over 'No Artificial Lifts' Rule In Tuesday Debate: 'A Form of Cheating!'

Ahead of the much-anticipated debate Tuesday night between Donald Trump and Kamala Harris, Trump has voiced his opinion on the "no artificial lifts" rule.

Why We Just Sold Half of Our Stocks

Why We Just Sold Half of Our Stocks - Ad

We've already sold all or part of 52 different stocks this year - more than any other period in our firms' history. That's because there are five cracks forming below this market that threaten us with a widespread collapse. We could see the market tumble by 50% and unemployment will triple.

Trump Vs Harris: Who Do Russia, Iran And China Favor In 2024 Election? Intelligence Officials Weigh In

U.S. intelligence officials believe that Russia, Iran and China have preferred candidates in this year's U.S. presidential election. Each of these foreign powers has different views on who would best serve their interests.

E. Jean Carroll Case: Appeals Court Skeptical of Trump's Bid to Overturn Sexual Abuse Verdict

E. Jean Carroll's case sees an appeals court skeptical of Donald Trump's bid to overturn a $5 million verdict for sexual abuse and defamation.

Buffett's Big A.I. Secret (Handle With Care)

Buffett's Big A.I. Secret (Handle With Care) - Ad

A.I. is the talk of the town...But here's what they're NOT telling you. Former investment banking V.P. Ross Givens is letting the cat out of the bag. He's leaking a revolutionary new development, which changes everything. It will kick off A.I.'s massive second wave.

Polling Veteran Nate Silver Says Kamala Harris Got The Debate She Wanted As Fatigued Trump Couldn't Bring His 'A-Game' After The Initial Momentum

Vice President Kamala Harris seems to have emerged as the winner of the first presidential debate between her and Republican cand

Donald Trump's Billions On Hold As Insiders Sell Off Truth Social Shares

Insiders at Trump Media & Technology Group owned social media platform Truth Social have started offloading their shares.

America Can't Afford a Harris Presidency

America Can't Afford a Harris Presidency - Ad

New research from Jim Rickards - former advisor to the CIA - reveals shocking predictions about an "Election Meltdown" coming this November. Jim's showing all American patriots why an "Election Meltdown" could crash stocks by 50%, lead to the final demise of the dollar, even cause violent riots in the streets.

Trump courts conservative male influencers to try to reach younger men

WASHINGTON (AP) — At first glance, there's little that a 78-year-old former president and a 23-year-old internet personality might have in common.

Trump's Campaign Slapped With Lawsuit Threat After Jack White Calls Them 'Fascists'- 'You Should Lose Every Military Family's Vote Immediately!'

Jack White of the White Stripes has condemned Donald Trump's campaign as "fascists" and threatened legal action after an aide used a clip of the band's 2003 hit "Seven Nation Army" in a pro-Trump social media post.

Imminent FDA Decision Could End Obesity in America...

Imminent FDA Decision Could End Obesity in America... - Ad

...and spark a 224,000% sales surge for one tiny micro-cap stock. Channelnomics says it "Could have a greater impact on the world than artificial intelligence." BMO Capital calls it "A goldmine for investors." The Wall Street Journal says it's "A Gold rush."

Will Nvidia Continue To Deliver? Investors Sweat Over Hyped-up Expectations And Potential Blackwell Delay Ahead Of Q2 Report

Chipmaker and artificial intelligence stalwart Nvidia Corp. is all set to announce its quarterly results Wednesday after the market close. Analysts are upbeat about the company scaling lofty goals and reigniting the market momentum, which has toned down a bit in recent sessions.

Why Is WiSA Technologies Stock Surging Premarket Wednesday?

WiSA Technologies shares are jumping premarket Wednesday, as the company acquires Datavault's IP and IT assets in a $210 million deal.

Seven Unknown AI Stocks That Could Dominate the Next Six Years

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

Treasury recovers $1.3 billion in unpaid taxes from high wealth tax dodgers

WASHINGTON (AP) — The IRS has collected $1.3 billion from since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden's signature signed into law in 2022.

US-sanctioned Serbia official meets Putin, says Belgrade is an ally and won't join Western penalties

Serbia is a Russian ally and will never impose sanctions against Moscow or join NATO, the Balkan nation’s deputy prime minister said Wednesday as he met with Russian President Vladimir Putin.

Seven Unknown AI Stocks That Could Dominate the Next Six Years

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

What Bears And Bulls Think On Nvidia Is Irrelevant, Says Gene Munster Because 'AI Will Be Bigger Than The Internet'

Gene Munster, managing partner at Deepwater Asset Management, shared insights on NVIDIA Corp. earnings and artificial intelligence potential on X. "The bears will say $NVDA earnings were good but not great," he wrote on Wednesday.

Stalled In Bureaucratic Limbo, This German City Struggles With Illegal Cannabis As Demand Surges

The slow response is largely due to complex bureaucratic requirements. Applicants must provide extensive documentation.

DO NOT Make Another Trade Without Seeing This First

DO NOT Make Another Trade Without Seeing This First - Ad

Starting September 23... a huge secret of the markets could help you consistently target gains like: 126%... 245%... even 463% or more... often in 30 days or less... No matter what the market does next.

Investigators say dispatching errors led to Union Pacific train crash that killed 2 workers

OMAHA, Neb. (AP) — Dispatching errors combined with the failure of two backup systems allowed a Union Pacific train to that had been parked on a side track for nine months in Southern California two years ago, killing an engineer and a conductor, according to a report issued Thursday.

Nvidia, Intel And Other Top Chipmakers Grapple With Gender Disparity Despite AI Surge: Report

Despite women constituting the majority of undergraduate and advanced degree holders, they account for less than 23% of engineering and computer science graduates.

Oil = Monthly Income

Oil = Monthly Income - Ad

Right now, there's an unusual $25 way to collect MONTHLY income from the oil markets. It's not a stock, bond, or anything you've likely heard about... But it's by far my #1 investment opportunity for 2024.

Hewlett Packard won't drop its UK claim against tech mogul Mike Lynch, who died when his yacht sank

LONDON (AP) — Hewlett Packard Enterprise said Monday it won't drop its U.K. claim for damages against the estate of British , who was killed when his superyacht sank last month.

Shanghai cancels hundreds of flights as Typhoon Bebinca draws near

BANGKOK (AP) — Shanghai's airports were canceling hundreds of flights Sunday as they brace for impact from Typhoon Bebinca, which is due to make landfall in the early hours of Monday morning, the authorities said.

My TOP Altcoin for Right Now Is...

My TOP Altcoin for Right Now Is... - Ad

Searching for the top investment opportunity in crypto? Look no further. Our $3 report gives you the full scoop. You'll get this exciting token's name, our recommended investment strategy, and growth projections. Time is of the essence with this one...

Moderna Faces Analyst Downgrades Amid Revised R&D Restructured Strategy and Delayed Profitability Target

Moderna announces plans to reduce R&D spending by $1.1 billion by 2027, focusing on ten key products. Analysts highlight near-term challenges, lowered price targets, and a delayed breakeven to 2028, with optimism around Moderna's oncology pipeline and long-term platform potential.

Trending Now

Executives Buying Mercer International And 2 Other Stocks

Venezuelan opposition calls on US to cancel oil company licenses to pressure Maduro

What If Kamala Wins? The 3 Words That Will Change Everything - Ad

Trump Vs. Harris: Election Forecaster With 9 Out Of 10 Accurate Predictions Makes Final Call, Says This Person Will Be 'Next President Of The United States'

ChatGPT Creator OpenAI Says Its Latest Models Pose Bioweapons Creation Risk: AI Giant Particularly 'Cautious' About Introducing o1

Don't Buy Another Stock Until You See This - Ad

Mother Sells Taylor Swift Tickets Over Star's Endorsement Of Kamala Harris: 'I'm Gonna Shake It Off, And I'm Done With You'

Scaramucci Says Melania Trump Would Prefer Kamala Harris To Donald Trump As President

New "Living Missile" to Replace Nuclear Missiles - Ad

New Jersey internet gambling sets new record at $198M in revenue, but land casinos lag

Americans Split On Election Result Acceptance Between Harris And Trump, Here Is The Candidate They Think More Likely To Accept Voters' Verdict

4 Cryptos Set to Outperform Bitcoin in 2024 - Ad

All eyes are on Nvidia as it prepares to report its earnings. Here's what to expect

Jim Cramer Still Thinks 'Nvidia Could Go Lower' But Cautions Investors Against Panic Selling After DOJ Subpoena

Elon Musk: Without This Company, "Civilization Will Crumble" - Ad

Anthony Scaramucci Explains How Kamala Harris Can Improve Her Poor Economic Polling: 'She Has To Get Out There And Do That'

California advances landmark legislation to regulate large AI models

Do Not Day Trade (Do This Instead) - Ad

Firm offers bets on congressional elections after judge clears way; appeal looms

Japan Leads Asia Markets Decline, Europe Slides; Crude Oil Falls below $70 - Global Markets Today While US Slept

The No. 1 AI Stock of 2024 (Not Nvidia) - Ad

'FBI Raided My Homeâ€¦:' Melania Trump Slams FBI For Invading Her Privacy While Searching For 'Top Secret' Documents At Donald Trump's Mar-A-Lago Residence

Utility ordered to pay $100 million for its role in Ohio bribery scheme

President Trump and Elon Musk Issue Stark Warning - Ad

Judge allows smoking to continue in Atlantic City casinos, dealing blow to workers

Harris Vs. Trump: Vice President On Top By Three Points, How Her Lead Compares To The 2020 Election At This Point In Race

This Is How the AI Bull Market Ends - Ad

Tesla lawsuit challenging Louisiana ban on direct car sales from plants revived by appeals court

Nvidia And Bitcoin: Overpriced Or Underpriced - Do Fundamentals Justify Their Trillions Of Dollars Worth Of Market Caps?

Oil Surge Predicted...But Are You Ready? - Ad

UK says it's suspending some arms exports to Israel over the risk of breaking international law

Trump's Attorney General William Barr Accuses Biden-Harris Admin Of Politicizing Cannabis Legalization, 'Ignoring Legal Standards, Scientific Evidence'

The "Amazon Coin" -- To Be Bigger Than Bitcoin? - Ad

Maryland awards contract for Francis Scott Key Bridge rebuild after deadly collapse

iPhone 16 Pro Vs. iPhone 15 Pro: Should You Upgrade To Apple's Latest iPhone?

Silicon Valley Billionaires Are Quietly Buying Into What We Call the "Imperium" Boom - Ad

Nvidia ETFs Split In Pre-Market After Jensen Huang-Led Chip Giant Exceeded Q2 Expectations

Court revives Sarah Palin's libel lawsuit against The New York Times

Revealing Index Soars 49% - Smart Investors Are Moving In - Ad

'Beetlejuice Beetlejuice' jolts box office with $110 million opening weekend

Bezos Vs. Musk Battle Heads To Space: How Amazon Founder Is Taking Tesla CEO On More Directly

Why Are These Strange "Accidents" Happening All Over America? - Ad

Stellantis Fires Back At US Dealer Council's Allegation Of 'Short-Term Decision-Making:' Carmaker Says 'Public Personal Attacks' Not The Way To Solve Problems

Young girls are using anti-aging products they see on social media. The harm is more than skin deep

My No. 1 Oil Play for 2024 - Ad

Young girls are using anti-aging products they see on social media. The harm is more than skin deep

Jaguar tells owners of older I-Pace electric SUVs to park them outdoors due to battery fire risk

U.S. Loses to China in Shocking WAR GAMES - Ad

Rio de Janeiro police seize on a new target: Hard-to-grasp stuffed animals

Cathie Wood's Ark Invest Continues To Sell Palantir â€” Offloads $6.4M Worth Of Shares, Loads Up On Coinbase Stock Amid Bitcoin Rebound

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.