Marvell Technology (MRVL) Declares $0.06 Quarterly Dividend; 1.1% Yield

Pre-Open Movers 06/28: (DRRX) (ZSAN) (CAVM) Higher; (ASNS) (PIR) (WBA) Lower (more...)

Today's Pre-Open Movers

Arsanis, Inc. (NASDAQ: ASNS) 72.8% LOWER; announced the discontinuation of its Phase 2 clinical trial of ASN100 for the prevention of S. aureus pneumonia in high-risk, mechanically ventilated patients following the completion of a planned interim analysis of unblinded trial data by an independent data review committee (DRC). Based on the results of this analysis, the DRC determined that the trial was futile, meaning that it was not likely to meet its primary end-point upon completion and recommended that trial enrollment be discontinued. Arsanis intends to... More

Marvell Technology (MRVL) Secures Chinese Regulatory Approval for Cavium (CAVM) Acquisition

Marvell (NASDAQ: MRVL), a leader in storage, networking, and connectivity semiconductor solutions, today announced that China's State Administration for Market Regulation has approved the company's previously announced merger transaction with Cavium, Inc (Nasdaq: CAVM). The merger remains subject to... More

Evercore ISI Starts Marvell (MRVL) at Outperform

Evercore ISI initiates coverage on Marvell (NASDAQ: MRVL) with a Outperform rating and a price target of $27.00.

Analyst C.J. Muse commented, "We are initiating coverage of MRVL with an Outperform rating and $27 price target, representing ~30+% upside. We see the... More

Deutsche Bank Upgrades Marvell (MRVL) to Buy; Compelling Risk/Reward

Deutsche Bank upgraded Marvell (NASDAQ: MRVL) from Hold to Buy with a price target of $24.00, citing compelling risk/reward.

Analyst Ross Seymore commented, "We are upgrading MRVL from a Hold to a Buy rating as after the recent pullback we see 2/1 upside/downside from the current level. To the... More