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Marvell Technology Group (MRVL) Is Up Despite Weaker Than Expected Q2 Profit

Marvell Technology Group (MRVL) reported second quarter adjusted EPS of $0.28 after the bell Thursday, which fell short of the consensus estimate of $0.35. The company expects to report third quarter adjusted EPS of $0.30 to $0.34. Street expectations are for EPS of $0.35. The stock is now up 0.39 on 648K shares.

Marvell Technology Group declined for the bulk of Thursday's session and finished with a loss of 1.02 at $19.46. The stock has dropped to a 4-month low.

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