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Los Angelas, CA -- (SBWIRE) -- 10/19/2012 -- Advanced Micro De (NYSE:AMD) are trading at $2.62 and is -22.56% from its 50-day Moving Average price of $3.3831 and -49.42% from its 200-day Moving Average price of $5.1799. The average trading volume is 24086500 shares and its market capitalization is $1.854B. Advanced Micro Devices, Inc.(NYSE:AMD) revenue has dropped 25 percent in its third quarter that ended Sept. 29. The company has said that it plans to cut nearly 1,800 jobs by the end of the year. The chip maker’s falling sales is forcing it to trim costs. These jobs constitute about 15 percent of the company’s workforce. Demand is fast shifting from PCs to tablets and smartphones. The resultant drastic fall in PC sales is posing a big challenge for the world’s second-largest producer of microprocessors for personal computers. Rory Read, CEO of the California-based company has said that the PC industry is undergoing swift changes and that they need to restructure the business quickly. Shares of AMD fell 1% in the pre-market session.
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Fifth Third Banco (NasdaqNM:FITB) are trading at $15.12 and is -2.26% from its 50-day Moving Average price of $15.4694 and +6.47% from its 200-day Moving Average price of $14.2014. The average trading volume is 10330400 shares and its market capitalization is $13.894B. Fifth Third Bancorp(NASDAQ:FITB) was down 0.07% and closed at $15.12 on a traded volume of 15.99 million shares after the Company reported third quarter results.The net income was$354 million or 38 cents per share compared to $373 million or 40 cents per share in the prior year period.The lender said the increase in the reserves was a result of additional information received from government-backed mortgage financier Freddie Mac regarding future repurchase requests.
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Google Inc(NASDAQ:GOOG) has declared the launch of the two new APIs for organizations that are willing to build their own location-enabled apps, namely the Google Maps Geolocation API and the Google Maps Tracks API. The Google Maps Geolocation API allows organizations to make apps that can build apps or gadgets that determine their own location without using GPS, but looking up the locations of nearby wifi cell towers and access points. This can save battery life for gadgets by restricting GPS usage and it allows the device to operate indoors and remote areas, as per Google. Google Inc. (NasdaqNM:GOOG) reported EPS of 33.732. For the Current Fiscal year, the company is expected to report EPS of 42.72. For the Next Quarter and Next Year, the company is expected to report EPS of 11.78 and 49.76 respectively. At Current Market Price, GOOG is in distance of -4.65% from its 50-day Moving Average price of $728.868 and +8.61% from its 200-day Moving Average price of $639.92.
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Shares of Marvell Technolog (NasdaqNM:MRVL) are trading at $8.83 and is -8.04% from its 50-day Moving Average price of $9.6017 and -24.96% from its 200-day Moving Average price of $11.7674. The average trading volume is 11110700 shares and its market capitalization is $4.925B. Marvell Technology Group (NASDAQ: MRVL) had its price target lowered by Mizuho from $14.00 to $12.00 in a research report sent to investors on Friday morning. The firm currently has a buy rating on the stock.MRVL has been the subject of a number of other recent research reports. Analysts at Needham & Company cut their price target on shares of Marvell Technology Group from $16.00 to $10.50 in a research note to investors on Friday. They now have a buy rating on the stock. Separately, analysts at Jefferies Group downgraded shares of Marvell Technology Group from a buy rating to a hold rating in a research note to investors on Friday. Finally, analysts at Deutsche Bank downgraded shares of Marvell Technology Group from a buy rating to a hold rating in a research note to investors on Friday.
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