Marvell Technology Group (MRVL) reported second quarter adjusted net income of $0.24 per share after the bell Thursday, down from $0.38 per share last year. The consensus estimate was for EPS of $0.26.
Marvell Technology Group gapped open sharply lower Friday and fell during the first 45 minutes of trade. Shares finished down by 1.74 at $10.54 on the highest volume of the year. The stock closed testing the lows of the year, trading at over a 3-week low.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.