This Day On The Street
Continue to site
ADVERTISEMENT
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

Marvel, OmniVision: Tech Winners & Losers

NEW YORK ( TheStreet) -- The Nasdaq Composite rose 8 points to 2791 ahead of the holiday weekend.

The winners in the tech sector included Marvell Technology Group (MRVL - Get Report), whose shares climbed nearly 10% to $16 in late afternoon trading Friday on its second-quarter outlook. The semiconductor company said its wireless components business will increase 20% this quarter thanks to strong growth from mobile devices, WiFi and game consoles.

Also Broadcom (BRCM - Get Report) shares jumped 5.3% after research firm FBR Capital Markets added the stock to its top picks list. The chipmaker is poised to capitalize on rapid growth in the smartphone market, FBR said.

SeaChange International (SEAC - Get Report) shares soared 13% after reports surfaced that the company is in talks to be acquired by communications equipment maker Arris Group. Talks are still preliminary and the two parties are not close to reaching a deal, reports said.

Meanwhile, Mentor Graphics (MENT - Get Report) saw its shares drop 7.5% to $13.54 after delivering a second-quarter outlook that's below Wall Street expectations.

The company, which makes electronic design automation systems, forecast adjusted earnings of 5 cents a share for the current quarter, excluding special items, on revenue of $210 million. Analyst on average were expecting earnings of 20 cents a share on revenue of $229 million.

Also OmniVision (OVTI - Get Report) shares tumbled 8.8% after the company posted a lower quarterly profit than the previous quarter. On Friday, investment bank Morgan Keegan put out a report that noted OmniVision's reliance on Apple (AAPL). The chip company currently generates about 10% of its revenue from Apple.

-- Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

>To submit a news tip, send an email to: tips@thestreet.com.

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BRCM $52.28 0.00%
MENT $26.26 0.00%
MRVL $13.42 0.00%
OVTI $25.71 0.00%
SEAC $7.14 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs