This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tuesday's Early Winners & Losers

Marvell Technology Group (MRVL - Get Report) plummeted following the close Monday after the Santa Clara, Calif., chipmaker said third-quarter revenue will be lower than expected.

The company also told investors it will restate past financial results due to discrepancies in its past stock-option grants. The company said revenue in its fiscal third quarter will be down about 10% from the $574 million in second-quarter sales.

Analysts polled by Thomson Financial were looking for revenue to rise about 1.4% sequentially, to $582.3 million. EPS is projected to be 21 cents. Separately, Marvell said that a special committee of its board of directors looking into past stock-option practices has reached a preliminary conclusion that the actual measurement dates of certain past stock-option grants likely differ from the recorded grant dates for such awards.

As a result, Marvell's board has concluded that the company will need to restate previous financial statements to record additional noncash charges for stock-based compensation expenses. Shares were tumbling $2.94, or 15.40%, to $16.15.

Navarre (NAVR) shares advanced after the New Hope, Minn.-based video-game publisher said its Navarre Distribution Services division signed a distribution supply agreement in which it will supply OfficeMax (OMX) with third-party software titles for its U.S. retail locations. Navarre shares were gaining 11 cents, or 2.72%, to $4.15.

Actel (ACTL) lost ground after the Mountain View, Calif.-based chipmaker said it was reviewing its past stock-option-granting practices. The company said a special committee of Actel's board is leading the effort and has retained independent legal counsel to assist. Actel said it informed the Securities and Exchange Commission about the internal review.

Also, the company said that a complaint was filed on Aug. 30, in the U.S. District Court for the Northern District of California, by Frank Brozovich, on behalf of Actel, against certain officers and directors. The derivative legal action relates to certain options grants that were allegedly backdated, the company said. Shares were trading down 21 cents, or 1.4%, to $15.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
NAVR $0.00 0.00%
ACTL $0.00 0.00%
BFAM $66.18 0.00%
CYTK $8.48 0.00%
GSK $43.29 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs