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Los Angelas, CA -- (SBWIRE) -- 10/19/2012 -- Marvell Technology Group Ltd.(NASDAQ:MRVL) is a global leader in the development of storage, communications and consumer silicon solutions. Marvell's diverse product portfolio includes switching, transceiver, communications controller, wireless and storage solutions that power the entire communications infrastructure, including enterprise, metro, home and storage networking. As used in this release, the term "Marvell" refers to Marvell Technology Group Ltd. and its subsidiaries. Marvell Technology Group Ltd.(NASDAQ:MRVL) shares tumbled 8% in after hours trading after the company trimmed earnings forecast for the third quarter amid uncertain economic conditions and a weak PC market. The company now projects to generate revenue of $765 million to $785 million, missing analysts’ target of $800 million.
Will MRVL Recover After The Tumble? CHECK HERE
Advanced Micro Devices (NYSE:AMD), as it reported a larger-than-expected loss and weaker-than-expected revenue. Advanced Micro Devices (NYSE:AMD) saw a net loss excluding items of 20 cents per share, as compared to 15 cents per share earnings in the previous year. Revenue dropped to $1.27 billion, from $1.69 billion in the prior year. The company also announced it will slash 15 percent of its workforce, and added it is “announcing a restructuring plan, designed to reduce operating expenses and better position the company competitively.” For the fourth quarter, AMD forecasts revenue to fall between 5 percent and 13 percent, as compared to the third quarter.
Get Free Trend Analysis on AMD CHECK HERE
Clearwire Corporation (NASDAQ:CLWR) is scheduled to release its financial results for the third quarter 2012 on Thursday, October 25, 2012. On Monday, Sprint Nextel Corporation and Softbank Corporation announced their definitive agreements under which Sprint has agreed to sell a 70% stake to Softbank in exchange of US$20.1 billion. "While a decision hasn't been made, Sprint doesn't need to own Clearwire because it already has access to its spectrum and it's too expensive," said Bloomberg. By the end of Thursday's trading, shares of Clearwire crossed below the 50-day moving average and slipped 10.18% to US$2.03. In the past 52 weeks, Clearwire share prices have been bracketed by a low of US$0.83 and a high of US$2.96, and are now at US$2.03 (145% above that low price). There were 72.65 million stock shares traded, which was 2.9 times more than average volume.
Can CLWR bounce back from here? CHECK HERE
E*TRADE Financial Corp. (NASDAQ:ETFC) reported Thursday a loss for the third quarter compared to a profit last year, reflecting higher provision for loan losses and a revenue decline amid 22 percent lower daily average revenue trades. However, quarterly revenues topped analysts' expectations. E TRADE Financial Corporation (NASDAQ:ETFC) swung to a third - quarter loss because of lower trading volumes and a number of one-time charges. The company posted net loss of $28.6 million, or 10 cents a share, reversing a year ago profit of $70.7 million, or 24 cents a share, missing analysts target of a profit of 10 cents a share & Total net revenues also slid to $490.04 million, from $507.28 a year ago, ahead of analysts target of $440.12.
How Should Investors React to ETFC Now? CHECK HERE
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