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U.S. stock futures were lower this morning, with the Dow futures falling over 100 points on Friday.
Shares of Marvell Technology, Inc. (NASDAQ:MRVL) fell sharply in pre-market trading after the company issued third-quarter sales guidance with a midpoint below estimates.
Marvell reported quarterly earnings of 67 cents per share, which beat the analyst estimate of 66 cents. Quarterly revenue came in at $2.006 billion which missed the Street estimate of $2.009 billion.
Marvell is looking for third-quarter adjusted earnings of between 69 cents and 79 cents per share, versus the 72-cent estimate, and revenue in a range of $1.957 billion to $2.163 billion, versus the $2.105 billion analyst estimate.
Marvell Technology shares dipped 14.7% to $65.87 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
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