Friday’s biggest gaining and declining stocks
Gainers
Shares of Marvell Technology Group Ltd. MRVL -3.51% moved up 2% in premarket trading. Wunderlich Securities Inc. initiated coverage on Thursday with a hold rating and a $9 target. Wunderlich’s analysts said they believe Marvell’s stock is inexpensive but won’t recommend it until they see a decision on a permanent chief financial officer, among other things.
Marvell’s shares dropped nearly 4% on Thursday, pulling back after a jury ruled the company had infringed on patents held by Carnegie Mellon University, and the group was also downgraded by JMP Securities. Read more on Marvell, tech stocks
Decliners
U.S.-listed shares of Nokia Corp. NOK -1.23% fell 3% in premarket trading. The Wall Street Journal reported that the Finnish handset maker’s important Lumia lineup of smartphones is being sold at discounted post-holiday prices via some U.S. carriers and Amazon.com. |