Marvell Technology Posts Weak Q1 Results, Joins MongoDB, Dell Technologies And Other Big Stocks Moving Lower In Friday's Pre-Market Session

U.S. stock futures were mostly lower this morning, with the Nasdaq futures falling around 70 points on Friday.

Shares of Marvell Technology, Inc. MRVL fell sharply in today's pre-market trading following worse-than-expected first-quarter earnings.

Marvell reported quarterly earnings of 24 cents per share, which missed the analyst consensus estimate of 25 cents. Quarterly sales came in at $1.16 billion which missed the analyst consensus estimate of $1.18 billion, according to data from Benzinga Pro.

Marvell Technology shares dipped 5% to $73.04 in pre-market trading.

Here are some big stocks recording losses in today's pre-market trading session.

  • Sify Technologies Limited SIFY shares dipped 40.4% to $1.00 in pre-market trading after gaining over 8% on Thursday.
  • Summit Therapeutics Inc. SMMT shares fell 34.6% to $7.14 in pre-market trading. Summit Therapeutics jumped 272% on Thursday after the company’s Phase III HARMONi-2 trial met its primary endpoint.
  • MongoDB, Inc. MDB shares tumbled 24.5% to $234.00 in pre-market trading after the company issued weak FY25 guidance.
  • Dell Technologies Inc. DELL shares dipped 13.9% to $146.38 in pre-market trading. Dell reported upbeat earnings and sales results for the first quarter.
  • SentinelOne, Inc. S shares declined 13.4% to $16.81 in pre-market trading after the company posted mixed first-quarter results.
  • Veeva Systems Inc. VEEV shares fell 8.4% to $177.80 in pre-market trading  after the company issued weak revenue guidance.
  • Trump Media & Technology Group Corp. DJT shares declined 7.9% to $47.76 in pre-market trading after the jury reached a verdict in Donald Trump’s hush money case.
  • Nordstrom, Inc. JWN shares fell 7.3% to $19.50 in pre-market trading following mixed first-quarter financial results.

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