Marvell Technology Rallies, GitLab Falls, Microchip Gains on Earnings Forecast
On this episode of Stock Movers:
- Marvell Technology (MRVL) shares rally after the company reassured investors that its custom chip-design unit is winning repeat orders, signaling continued growth as the company benefits from spending on AI computing.
- Gitlab (GTLB) shares fall after the software company’s results and forecast were seen as underwhelming. Bloomberg Intelligence wrote that the report reinforces concerns about AI.
- Microchip (MCHP) shares gain after the the semiconductor device company forecasted adjusted earnings per share for the third quarter that beat the average analyst estimate.
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