Marvell sees slight premarket spike on guidance boost (MRVL)

Posted in General 
June 22nd, 2009

Marvell Technology Group (Nasdaq: MRVL) shares are up more than 2% on fairly strong premarket volume after the company guided second-quarter revenue slightly higher, citing broad improvement in its end markets.

The company said it is seeing strengthening in its customers’ business expectations. There’s also reason to beleive Marvell has increased its orders, after Barron’s cited a Raymond James analyst over the weekend who said deliveries to Marvell and other key customers could help boost LSI’s revenue estimates.

Marvell now expects second-quarter revenue in a range of $600 million to $630 million, up from expectations of $559.31 million, according to Thomson Reuters.

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