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Strategies & Market Trends : Effective Collaboration - Team Research for Better Returns:
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To: The Ox who wrote (1184)10/18/2012 9:46:03 PM
From: Return to Sender  Read Replies (3) of 8239
 
4:09PM Marvell announces that Clyde Hosein has resigned as chief financial officer to pursue other opportunities ( MRVL) 8.82 -0.17 : Co announced that after four years with Marvell, Clyde Hosein has resigned as chief financial officer to pursue other opportunities. Brad Feller, vice president and corporate controller, will serve as interim chief financial officer during a search for Mr. Hosein's replacement. Mr. Feller has served as Marvell's corporate controller since September 2008.

4:05PM Marvell lowers Q3 rev to $765-785 mln from $800-850 mln vs $815.58 mln Capital IQ Consensus Estimate ( MRVL) 8.83 -0.17 : "The continued slowdown in the global economy during the third quarter is resulting in a weaker PC market than previously anticipated and thus lower demand from our storage HDD customers. Our SSD, networking, and mobile product revenues are tracking to be in line with prior expectations. In addition to the continued weak PC demand patterns, visibility in our other end markets remains low as we head into a seasonally softer fourth quarter."

The way MRVL is acting all I can say is thank goodness I took the profit I did last year. I also think it's entirely possible that it trades back below $5 a share again with the way the stock is acting. Not to mention technology stocks in a great deal of the market are failing to meet estimates and guide in line with expectations.

Message 24969163

Message 27688944

RtS







finance.yahoo.com
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