What's Going On With Marvell Technology Stock Friday?

Dylan Berman

August 23, 2024

Marvell Technology, Inc. (NASDAQ:MRVL) shares are moving higher on Friday, along with other semiconductor stocks, following Federal Reserve Chair Jerome Powell‘s comments regarding the economy and future rate cuts.

What To Know: Powell’s speech at an annual economic conference in Jackson Hole, Wyoming supported interest rate cuts, according to Reuters.

“The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks,” said Powell.

The Federal Reserve Chair also expressed confidence that the inflation rate is on track to reach the Federal Reserve’s 2% target.

In addition, Powell mentioned that additional slowdown in the job market would be undesirable. He attributed the increase by almost a percentage point in unemployment over the last year to rising labor supply and slowed hiring.

What Else: Marvell Technology is anticipated to report 2024 fiscal year second quarter earnings on Tuesday after the market closes. Analysts estimate EPS of 30 cents and revenue of $1.25 billion.

Analyst Change: Earlier this week, Rosenblatt analyst Hans Mosesmann maintained a Buy rating on Marvell Tech and maintained a $100 price target.

See Also: What’s Going On With Chinese EV Stocks Like Nio, XPeng, Li Auto On Wednesday? (CORRECTED)

MRVL Price Action: At the time of writing, Marvell Technology shares are moving 3.03% higher at $70.73, according to data from Benzinga Pro.

Image: Photo via Shutterstock

Recommended

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

Most Bitcoin Holders Have No Idea This Exists - Ad

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Boeing expects higher deliveries of 737 and 787 aircraft in 2026, with 737 Max 10 certification targeted by year-end.

Why Falcon's Beyond Stock Is Jumping Today

Falcon's Beyond shares surge on Tuesday after the company was preliminarily slated for Russell 2000 inclusion, boosting visibility despite ongoing losses.

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

AI, electrification, battery storage, and data centers are pushing copper and silver demand sharply higher, even as supply stays tight. This region in Nevada offers rare multi-metal potential, and a new company has secured land in a district the surging district. It's one of the cleanest timing setups in the sector right now.

Costco becomes biggest company yet to demand refund of Trump tariffs

WASHINGTON (AP) — Costco is joining other companies that aren't waiting to see President Donald Trump's most sweeping import taxes. They're going to court to demand refunds on the tariffs they've paid.

Jim Cramer's '10 Stocks To Own For The Future' In 2000 Cost This Redditor A Decade Of Retirement, Says Having To Work 10 More Years Was 'Painful'

A Reddit user slammed Jim Cramer's stock picks at the peak of the Dot-Com bubble, saying that the CNBC host's suggestions cost him a decade of retirement.

Bitcoin Just Humbled Jeff Bezos

Bitcoin Just Humbled Jeff Bezos - Ad

Bitcoin just passed Amazon in market cap - yet most investors are making one big mistake: just buying and holding. Larry Benedict's "Bitcoin Skimming" method could deliver 6x, 9x, even 22x the gains. Don't miss out.

Marjorie Taylor Greene Goes Bargain Shopping, Discloses Buying These Two Stocks At 52-Week Lows

Congresswoman Marjorie Taylor Greene disclosed some new stocks recently. Unlike past trades in 2024 and 2025, the latest disclosure is rather unique.

Officer Injured By January 6 Predicts Trump Will Flee US After 2026 Elections: 'He'll Be Hopping on That Qatari Jet to Saudi Arabia'

Former District of Columbia Metro police officer Michael Fanone has speculated that President Trump might leave the U.S. after the 2026 elections.

Bitcoin Income Crushes Dividend Stocks

Bitcoin Income Crushes Dividend Stocks - Ad

Why tie up $400,000 in Pepsi for a $1,200 a month payout when one little-known Bitcoin fund can deliver the same with just $30,000?

John Bolton Questions Trump's Latest 'Incoherent Strategy' To Achieve Ukraine-Russia Agreement, Calls It 'Typically Trumpian'

Bolton criticizes Trump's 28-point peace proposal for Russia-Ukraine conflict as incoherent and lacking strategy, claiming it benefits Moscow.

Trump attacks ABC News correspondent Mary Bruce in angry response to three sharp questions

NEW YORK (AP) — President Donald Trump denounced ABC News' Mary Bruce as a “terrible reporter” Tuesday and threatened the network's license to broadcast after she asked him three sharp questions at the White House.

D.C.'s Quiet Plan for a New Tech Era

D.C.'s Quiet Plan for a New Tech Era - Ad

Why did federal agencies receive orders to "clear the runway" for a phenomenon most Americans haven't even heard of yet? And why are billionaires rushing in weeks before January 1? Whitney Tilson decoded the pattern.

Donations for Hong Kong fire victims reach $115 million, while crackdown on dissent hardens

HONG KONG (AP) — Donations for victims of a Hong Kong fire that killed at least 146 people and left thousands homeless reached 900 million Hong Kong dollars (US$115 million), authorities said Monday, in a massive outpouring of sympathy and support. But as questions grew over who to blame for the deadly blaze, the government appeared to be moving swiftly to stifle criticism.

Trump Admin Boasts Affordability Wins As Egg Prices Plunge 86%, Housing Costs Fall Nearly 14%, Despite Rising Grocery Inflation

The Donald Trump administration focuses on affordability for Americans, claiming success in lowering food and housing costs.

Oil Supermajors FLOOD Into "Anti-Oil Technology"

Oil Supermajors FLOOD Into "Anti-Oil Technology" - Ad

ExxonMobil, Chevron, Eni, and Shell are investing billions of dollars in a technology that could cause oil prices to collapse. According to Bill Gates, this breakthrough "could be as transformative as the invention of the steam engine before the Industrial Revolution."

US air travelers without REAL IDs will be charged a $45 fee

Air travelers in the U.S. without a will be charged a $45 fee beginning in February, the Transportation Security Administration announced Monday.

Silver Breaks Out In A Short Squeeze, Rising Yields In Japan Hits Stocks and Bitcoin

Rising Yields In Japan

The Next Biggest Bull Run In Over 50 Years

The Next Biggest Bull Run In Over 50 Years - Ad

Gold has hit all-time highs, breaking $4,000 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

Trump-Pardoned Ponzi Schemer Faces 37-Year Sentence For $44 Million COVID Scam

A previously convicted Ponzi schemer who had received a pardon from President Trump is heading back to prison due to involvement in a new fraudulent scheme.

Ross Gerber Says Meta's Smart Glasses Give Him 'Hope' To Give Up His Phone One Day — Just Like Mark Zuckerberg Predicted 10 Years Ago

Meta investor Ross Gerber says the company's new smart glasses give him hope of ditching his phone—a vision that aligns with Mark Zuckerberg's decade-old prediction, even as early reviews highlight impressive hardware but limited everyday usefulness.

Trump's Crypto Law Just Created a Massive Opportunity

Trump's Crypto Law Just Created a Massive Opportunity - Ad

Trump's newly signed GENIUS Act gives crypto its first official federal framework. While attention stays on Bitcoin, one overlooked coin could benefit the most-backed by skyrocketing volume, early fund activity, and pro-crypto policy momentum.

A lost generation of news consumers? Survey shows how teenagers dislike the news media

NEW YORK (AP) — Cat Murphy, a college student, has wanted to be a journalist since she was 11. Many of her friends don't understand why.

Trump Withdraws Support For 'Wacky' Marjorie Taylor Greene In Sudden, Fiery Split: 'I Can't Take...'

President Donald Trump said he is withdrawing his endorsement of longtime ally Rep. Marjorie Taylor Greene — here's what happened.

$270,000 Drug. One Competitor. Billion-Dollar Market.

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

Phase 3 trial targets recurrent pericarditis with an oral therapy that could disrupt the only approved treatment. And their heart failure program launches in 2026.

Iran confirms seizure of oil tanker in the Strait of Hormuz

TEHRAN, Iran (AP) — Iran on Saturday confirmed as it traveled through the narrow Strait of Hormuz over violations including carrying an illegal consignment, state media reported.

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

NEW YORK (AP) — AT&T has reached a combined $177 million settlement over two . And impacted consumers have a little over a month left to file a claim for their chunk of the money.

Most Bitcoin Holders Have No Idea This Exists

Most Bitcoin Holders Have No Idea This Exists - Ad

I call it "Bitcoin Skimming"... and it allows you to "skim" cash into your account thanks to 2025's surging Bitcoin market. You don't have to buy or sell Bitcoin. Not one single penny's worth. In my latest video briefing, I'll give you everything you need to "skim" your first payout -- and it won't cost you a penny.

Bitcoin dips below $85,000 in crypto currency rout

and companies tied to cryptocurrencies extended a nearly two-month swoon Monday, tracking with a broader market sell-off in technology companies that many see as overvalued.

OpenAI's Partners Rake Up $96 Billion Debt as AI Industry's Borrowing Trend Escalates

Companies supplying data centers, chips, and processing power to OpenAI have racked up a staggering $96 billion in debt to fund their operations.

The $43B Big Pharma Story is Starting Over-With a New Player

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Big Pharma once paid $43B for a small biotech with a similar platform. Now, a new company is following that same playbook, leveraging its patented delivery technology to attract partnerships and near-term revenue potential.

Starbucks to pay about $35M to NYC workers to settle claims it violated labor law

NEW YORK (AP) — Starbucks will pay about $35 million to more than 15,000 New York City workers to settle claims it denied them stable schedules and arbitrarily cut their hours, city officials announced Monday.

Nvidia, Dell, Coinbase, Gorilla Technology And Archer Aviation: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks closed lower on Monday, with the Dow slipping 1.2% to 46,590.24, the S&P 500 easing 0.92% to 6,672.41, and the Nasdaq dipping 0.84% to 22,708.07. These are the top stocks that gained the attention of retail traders and investors through the day:

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

Elon Musk Doubles Down On Solar-Powered AI Satellites, Predicts 'Convergence' Between Tesla, SpaceX, xAI — 'Tesla Is The World Leader In…'

Elon Musk shares plans for solar-powered AI satellites in orbit, touts Tesla as world leader and targets Optimus scale production next year.

Trump's $2,000 Tariff Dividend Stumbles On Math: Cost Far Exceeds Revenue

Trump's $2,000 tariff rebate plan faces a major math gap, with estimated costs up to $606.8B—far exceeding tariff revenues in 2025 and 2026, says the Tax Foundation.

Bitcoin Just Humbled Jeff Bezos

Bitcoin Just Humbled Jeff Bezos - Ad

Trump Bars South Africa From 2026 G20 Summit In Florida, Freezes Aid Over 'White Genocide'

President Donald Trump directed that South Africa will not be invited to the 2026 G20 Summit in Miami, Florida. He also declared that all U.S. payments and subsidies to the country would be immediately suspended.

Scaramucci Advocates For Market Solutions Amidst Rising Economic Challenges, Says 'People Like Mamdani Will Try And Use Socialist Means To Fix It'

Anthony Scaramucci emphasized the importance of market solutions to address societal issues, warning against potential socialist alternatives.

Bitcoin Income Crushes Dividend Stocks

Bitcoin Income Crushes Dividend Stocks - Ad

Why tie up $400,000 in Pepsi for a $1,200 a month payout when one little-known Bitcoin fund can deliver the same with just $30,000?

Trump's Approval Rating Hits New Low: Voters Blame Republican Party For Government Shutdown

A new voter poll shows Donald Trump and the Republican party losing support as the government shutdown continues.

Trending Now

Trump says he's rebuilding Dulles airport while his administration is fixing the 'people movers'

Salesforce Q3 Preview: Record Revenue Predicted, Can Shares Recover After 30% Drop In 2025?

D.C.'s Quiet Plan for a New Tech Era - Ad

December Social Security Payments Might Come Early — But There's a Catch

Taiwan Denies It Will Swap 'Worker Training' For Lower US Tariffs

Oil Supermajors FLOOD Into "Anti-Oil Technology" - Ad

Adam Schiff Warns Trump Is Dragging America Toward A Venezuela War, Slams GOP For Treating Congress Like An 'Unnecessary Appendage'

Cathie Wood Dumps $11.6 Million Worth Of Tesla Stock: Here Is What Ark Purchased Instead

The Next Biggest Bull Run In Over 50 Years - Ad

Here's why everyone's talking about a 'K-shaped' economy

What's Going On With The Uptick In Hewlett Packard Enterprise (HPE) Stock?

Trump's Crypto Law Just Created a Massive Opportunity - Ad

Trump commutes prison sentence for former private equity executive David Gentile

Evommune's Skin Disorder Candidate Has 'Blockbuster Commercial Opportunity': Analyst Projects $5 Billion Peak Sales

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

Ukrainian Naval Drones Cripple Two Russian Oil Tankers In Black Sea, Disrupt Moscow's Shadow‑Fleet Operations

Joan Branson, wife of British billionaire Richard Branson, dies at 80

Most Bitcoin Holders Have No Idea This Exists - Ad

Trump's Approval Rating Hits Lowest Since Returning To Office, With Support Falling Among Republicans, Independents

Airbus Orders Emergency Recall Of 6,000 A320 Jets After JetBlue Incident, Triggering Global Flight Delays And Holiday Travel Chaos

The $43B Big Pharma Story is Starting Over-With a New Player - Ad

Apple Replay is here. What's the No. 1 song on Apple Music’s 2025 songs chart?

Hillary Clinton Warned 'Exotic' Crypto Could Destabilize Nations: These Countries Took The Worst Reserve Hits In The Bitcoin Meltdown

Copper Is Tight, Silver Is Rising - And This Early Nevada Play Hits the Timing Perfectly - Ad

Silver Soars To Record Highs: It's Up 95% In 2025, The Best Year Since 1979

Analysts See Big Upside For Newly Listed Molecular Diagnostic Firm BillionToOne After Standout IPO Rally

Bitcoin Just Humbled Jeff Bezos - Ad

Zohran Mamdani Says No More Thanking Veterans Today, Forgetting Tomorrow — Trump, Obama And Others Express Gratitude For Service

Cathie Wood Bets Big On These Stocks As Bitcoin, Ethereum Crash —Dumps Instagram Rival

Bitcoin Income Crushes Dividend Stocks - Ad

Weekend Crypto Roundup: Bitcoin's Scarcity, Dogecoin's Resistance, Tether's Rating, Trump's Crypto Ties And Peter Schiff's Warning

Covet an Italian masterpiece, but shy of the millions? How about a digital copy at supercar prices

D.C.'s Quiet Plan for a New Tech Era - Ad

UK leader Keir Starmer backs his Treasury chief over claims she misled the public about the economy

Rand Paul Slams GOP's Shift From Fiscal Conservatism: They Voted To Add '$5 Trillion' To The Debt Ceiling — Calls It 'Decimation'

Oil Supermajors FLOOD Into "Anti-Oil Technology" - Ad

What to know about the apartment tower fire in Hong Kong

Federal Reserve Ends Quantitative Tightening: A New Era For Crypto Liquidity Begins

The Next Biggest Bull Run In Over 50 Years - Ad

Preliminary findings show a fatigue crack caused a Keystone Pipeline oil spill in North Dakota

DOJ Greenlights Strikes on Drug Boats, Citing Fentanyl as Potential Chemical Weapon

Trump's Crypto Law Just Created a Massive Opportunity - Ad

An archaeologist is racing to preserve Sudan's heritage as war threatens to erase its cultural past

Apple Announces Major Changes: New iPhone Models and Altered Release Schedule

$270,000 Drug. One Competitor. Billion-Dollar Market. - Ad

What's Going On With Home Depot Shares Monday?

Samsung Hikes Key Chip Prices 60% To Keep Up With AI Boom 'Panic Ordering'

Most Bitcoin Holders Have No Idea This Exists - Ad

Buffett's Big Bet Banks Billions: Here's How Much Berkshire Hathaway Is Up On Alphabet

Everything Funnels Into Nvidia's Earnings

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.