Marvell Technology, Inc. (MRVL +13.7%) witnessed a significant pre-market rise as the company surpassed third-quarter financial expectations and provided robust fourth-quarter guidance.
Earnings: Marvell posted earnings of $0.43 per share, surpassing analysts’ estimates of $0.41. Revenue: Quarterly revenue reached $1.52 billion, exceeding the $1.46 billion consensus and improving from $1.42 billion in the same period last year. Market Response: Shares surged 12.6% to $108.00 during pre-market trading. Top Pre-Market Gainers CN Energy Group (CNEY): Soared 151.8% to $0.7953 after securing a Nasdaq extension to meet bid price requirements until May 2025. Fusion Fuel Green PLC (HTOO): Jumped 81.5% to $0.5770, rebounding after a 6% dip on Tuesday. Heron Therapeutics (HRTX): Climbed 80.5% to $2.13 following a favourable US District Court ruling in its patent litigation against Fresenius Kabi. Pure Storage (PSTG): Rose 22.3% to $65.50, bolstered by strong Q3 results and optimistic Q4 guidance. Salesforce (CRM): Gained 13% to $374.38 despite reporting lower-than-expected earnings. Full-year revenue estimates were revised to $37.8-$38 billion. Key Pre-Market Losers Oriental Rise Holdings (ORIS): Fell 44.4% to $6.65, reversing Tuesday’s 82% jump. Ensysce Biosciences (ENSC): Dropped 17.3% to $0.4550 after announcing a 1-for-15 reverse stock split. Intuitive Machines (LUNR): Declined 12.7% to $12.36 following the pricing of its upsized $110 million share offering. Cheetah Net Supply Chain Service (CTNT): Slipped 16.7% to $4.07 after a 160% rise on Tuesday due to acquisition news. ZJK Industrial Co. (ZJK): Down 13.4% to $14.95 after announcing a partnership with NVIDIA for a liquid cooling manifold project. Market Highlights The stock market remains dynamic, driven by robust corporate earnings and major announcements across sectors. Marvell Technology’s stellar performance highlights the strength of tech stocks, while shifts in smaller-cap equities continue to intrigue investors. Stay updated with NewsTodayDigest.com for daily financial insights.Marvell Technology Shares Surge After Q3 Results Beat Estimates
