Marvell Technology Posts Weak Q1 Results, Joins MongoDB, Dell Technologies And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Marvell Technology, Inc. (MRVL) reported weak Q1 results, missing both earnings and sales estimates, leading to a 5% drop in pre-market trading. Other notable stocks moving lower include Sify Technologies Limited (SIFY), Summit Therapeutics Inc. (SMMT), MongoDB, Inc. (MDB), Dell Technologies Inc. (DELL), SentinelOne, Inc. (S), Veeva Systems Inc. (VEEV), Trump Media & Technology Group Corp. (DJT), and Nordstrom, Inc. (JWN).
May 31, 2024 | 9:27 am
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NEGATIVE IMPACT
Dell Technologies shares dipped 13.9% in pre-market trading despite reporting upbeat earnings and sales results for Q1.
Despite strong Q1 results, Dell Technologies shares fell in pre-market trading, possibly due to broader market trends or profit-taking.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Trump Media & Technology Group shares declined 7.9% in pre-market trading after a jury reached a verdict in Donald Trump’s hush money case.
The verdict in Donald Trump's hush money case has led to a decline in Trump Media & Technology Group shares, reflecting investor concerns about potential legal and reputational impacts.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
Nordstrom shares fell 7.3% in pre-market trading following mixed Q1 financial results.
Nordstrom's mixed Q1 financial results have led to a decline in pre-market trading, indicating investor uncertainty about the company's performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
MongoDB shares tumbled 24.5% in pre-market trading after issuing weak FY25 guidance.
MongoDB's weak FY25 guidance has led to a significant drop in pre-market trading, indicating investor concerns about future performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Marvell Technology reported weak Q1 results, missing both earnings and sales estimates, leading to a 5% drop in pre-market trading.
Marvell Technology's Q1 earnings and sales both missed analyst estimates, causing a significant drop in pre-market trading. This indicates investor disappointment and potential short-term downward pressure on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
SentinelOne shares declined 13.4% in pre-market trading after posting mixed Q1 results.
SentinelOne's mixed Q1 results led to a decline in pre-market trading, reflecting investor uncertainty about the company's performance.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Sify Technologies shares dipped 40.4% in pre-market trading after gaining over 8% on Thursday.
Sify Technologies experienced a sharp decline in pre-market trading, likely due to profit-taking after a recent gain.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Summit Therapeutics shares fell 34.6% in pre-market trading after a significant jump on Thursday.
Summit Therapeutics saw a sharp decline in pre-market trading, likely due to profit-taking after a significant increase following positive trial results.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Veeva Systems shares fell 8.4% in pre-market trading after issuing weak revenue guidance.
Veeva Systems' weak revenue guidance has led to a decline in pre-market trading, indicating investor concerns about future revenue growth.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80