Shares of Marvell Technology, Inc. MRVL fell sharply during Friday’s session after the company reported fourth-quarter financial results and issued weak Q1 guidance.
Marvell said fourth-quarter revenue increased 1% year-over-year to $1.427 billion, which beat the consensus estimate of $1.42 billion. The chip designer reported quarterly earnings of 46 cents per share, which was in line with analyst estimates.
Marvell sees first-quarter revenue of $1.15 billion, plus or minus 5%, versus estimates of $1.371 billion. The company sees first-quarter adjusted earnings of 23 cents per share, plus or minus 5 cents per share, versus estimates of 40 cents per share. The company authorized a $3 billion buyback.
Marvell Technology shares dipped 9.6% to $76.91 on Friday.
Here are some other stocks moving in today’s mid-day session.
Gainers
Ainos, Inc. AIMD jumped 140% to $2.6899 after dipping 18% on Thursday.
Psyence Biomedical Ltd. PBM shares climbed 139% to $3.0350. Psyence Biomedical recently announced its subsidiary, Psyence Australia, received Human Research Ethics Committee approval to initiate its Phase IIb study.
Safe and Green Development Corporation SGD shares jumped 138% to $1.57 after the company announced financing for the Norman Berry Expansion in Atlanta, Georgia.
MIRA Pharmaceuticals, Inc. MIRA shares climbed 48.5% to $1.36. MIRA Pharmaceuticals, last month, announced a research collaboration with Pharmaseed to research and evaluate Ketamir for patients with major depressive disorder and post-traumatic stress disorder.
CERo Therapeutics Holdings, Inc. CERO shares climbed 35.4% to $4.17 after surging over 20% on Thursday. CERo Therapeutics recently announced the publication of preclinical research analyzing CER-1236 in targeting Acute Myelogenous Leukemia tumor cells from human patients.
Willdan Group, Inc. WLDN gained 30.4% to $25.89 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance above estimates. Also, the company secured a contract worth approximately $30 million to $50 million over three years.
The Joint Corp. JYNT gained 29% to $11.80 following fourth-quarter results.
Smith & Wesson Brands, Inc. SWBI jumped 25.8% to $16.91 after the company reported better-than-expected third-quarter financial results.
Research Frontiers Incorporated REFR climbed 25.6% to $1.42 following fourth-quarter results.
Gulf Island Fabrication, Inc. GIFI shares gained 24.1% to $6.43 after the company reported a year-over-year increase in fourth-quarter revenue results.
Grifols, S.A. GRFS gained 22.7% to $6.89 after the company announced it published its consolidated annual accounts for 2023.
DoubleDown Interactive Co., Ltd. DDI gained 21.6% to $14.25.
Dogness (International) Corporation DOGZ gained 18.6% to $7.98.
Kidpik Corp. PIK gained 18.3% to $3.0177.
America’s Car-Mart, Inc. CRMT jumped 16.5% to $72.56 following third-quarter results.
Porch Group, Inc. PRCH rose 16.1% to $3.6099 after the company reported better-than-expected fourth-quarter financial results and issued FY24 guidance.
Samsara Inc. IOT gained 14.3% to $39.28 after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance above estimates.
Viracta Therapeutics, Inc. VIRX shares gained 13.5% to $0.9200 following fourth-quarter results.
Aeva Technologies, Inc. AEVA rose 12.6% to $1.34.
Adaptimmune Therapeutics plc ADAP gained 12.1% to $1.95. Adaptimmune Therapeutics recently reported better-than-expected quarterly EPS results.
HCI Group, Inc. HCI gained 11.3% to $110.42 after the company reported better-than-expected
Market Movers: A Rollercoaster on Wall Street
Winners
NuScale Power Corporation (NYSE: SMR) soared 10.5% to $4.9289, reminiscent of a rocket launching into the financial stratosphere.
Redfin Corporation (NASDAQ: RDFN) climbed 9.6% to $7.10, akin to a swift and steady ascent up the stock market mountain.
reAlpha Tech Corp. (NASDAQ: AIRE) rose 8.8% to $1.3599 after announcing new executive appointments, showcasing a promising narrative shift for the company.
Carnival Corporation (NYSE: CCL) gained 5% to $16.44, akin to a sturdy ship navigating the choppy waters of market volatility.
Losers
Amylyx Pharmaceuticals, Inc. (NASDAQ: AMLX) plummeted 80.7% to $3.6596 after disappointing trial results, painting a gloomy picture for investors.
BigBear.ai Holdings, Inc. (NYSE: BBAI) dropped 30.8% to $2.6006 due to lackluster financial performance, casting a shadow over the company’s outlook.
Next.e.GO N.V. (NASDAQ: EGOX) tumbled 28.6% to $0.0819, resembling a steep descent down the market rollercoaster.
Critical Metals Corp. (NASDAQ: CRML) fell 27.7% to $7.95, facing the harsh reality of a market correction.
Swvl Holdings Corp. (NASDAQ: SWVL) declined 26.3% to $5.45, experiencing a turbulent ride amid market uncertainty.
Immuron Limited (NASDAQ: IMRN) saw a 24.7% dip to $3.4250 after a sudden surge, highlighting the unpredictable nature of the market.
AerSale Corporation (NASDAQ: ASLE) fell 24.4% to $7.11 following disappointing financial results, signaling rough seas for the company.
CarParts.com, Inc. (NASDAQ: PRTS) experienced a 24.3% decline to $1.8999 after revealing fourth-quarter results, indicating a bump in the road for the company.
Mobix Labs, Inc. (NASDAQ: MOBX) dropped 20.1% to $1.39, facing headwinds in the competitive market landscape.
Nxu, Inc. (NASDAQ: NXU) fell 19% to $0.8001 after a significant surge, displaying the erratic behavior of market trading.
Brera Holdings PLC (NASDAQ: BREA) saw shares fall 16.9% to $1.62 after a drastic jump, signaling a turbulent journey for investors.
Custom Truck One Source, Inc. (NYSE: CTOS) dipped 15.3% to $5.26 following a mixed earnings report, marking a challenging period for the company.
Nexalin Technology, Inc. (NASDAQ: NXL) experienced a 15.1% decline to $0.4627 after releasing study results, navigating through obstacles in the market.
Runway Growth Finance Corp. (NASDAQ: RWAY) fell 13.5% to $11.68 after disappointing quarter results, encountering a speed bump in its growth trajectory.
Domo, Inc. (NASDAQ: DOMO) declined 12.7% to $9.92 following cautious guidance, facing challenges ahead in the market landscape.
MediaAlpha, Inc. (NYSE: MAX) dropped 12.4% to $19.05 after an offering announcement, adjusting to the changing tides of investor sentiment.
Genesco Inc. (NYSE: GCO) fell 11.7% to $25.84 after a disappointing financial report, navigating through a tough quarter.
Delek Logistics Partners, LP (NYSE: DKL) dropped 11.3% to $39.51 after a public offering, facing turbulence in the market following the fundraising move.
Grom Social Enterprises, Inc. (NASDAQ: GROM) fell 11% to $1.13 after an acquisition announcement, adjusting to new strategies in a fluctuating market.
Traeger, Inc. (NYSE: COOK) declined 10.5% to $2.11 post-earnings, grappling with market expectations as it navigates its growth trajectory.
Aquestive Therapeutics, Inc. (NASDAQ: AQST) dipped 10% to $5.11 after quarterly results, facing challenges in the dynamic pharmaceutical landscape.
Petróleo Brasileiro S.A. – Petrobras (NYSE: PBR) shares fell 9.6% to $15.10 due to profit decline, weathering the storm of market fluctuations.
Costco Wholesale Corporation (NASDAQ: COST) declined 7.5% to $727.08 after mixed results, adapting to changing consumer trends and investor sentiment.
MongoDB, Inc. (NASDAQ: MDB) dropped 6.4% to $385.82 post-guidance, recalibrating its growth trajectory amidst market expectations.
Icahn Enterprises L.P. (NASDAQ: IEP) fell 4.7% to $17.85 amid market volatility, demonstrating the ebbs and flows of investor confidence.
RadNet, Inc. (NASDAQ: RDNT) dipped 4.1% to $46.54 after a public offering, navigating the changing currents of investor sentiment.