Scalper1 News
Several Wall Street analysts downgraded Marvell Technology Group (MRVL) stock Monday after the Bermuda-based chipmaker announced a potential accounting error Friday that may affect already depressed Q2 revenue. On Friday, Marvell delayed its Q2 results pending an internal audit, explaining that a 7%-8% chunk of revenue credited to Q2 should likely have been counted in Q3. That, on top of already low preliminary $711.3 million revenue — down 26% Scalper1 News
Scalper1 News