Marvell Surrenders Some Early Gains After Upgrade

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Marvell Technology Group Ltd. MRVL shares are trading higher by $0.36 (2.2 percent) at $15.23 in Wednesday's session.

The issue got a boost from a UBS upgrade that flip-flopped on its rating changing from Sell To Buy, a rare occurrence among Wall Street analysts.

Its much higher open of $15.49 is only a dime from its current high for the session at $15.59. That high coincides with its April 2015 high of $15.47. Since reversing course, the issue has not yet reached the upper-end of Tuesday's range ($14.97) as the current low stands at $15.13.

Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
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