Volume Spike Investor

Marvell Technology Group Ltd. (NASDAQ: MRVL) is getting a real boost.  The communications chip maker (ergo designer, fabless) soared in after-hours trading after the company beat earning.  It also raised guidance to $0.33 to $0.39 EPS on revenue of $820 to $850 million, way above the $0.27 EPS and $779.6 million in revenues expected by Thomson Reuters.  Shares were up almost 6% at $17.50 on 1.235 million shares last night in the after-hours session.  It is still too early before the 8:00 AM EST bell to get a real volume call but the stock is trading around $17.70 versus a $16.53 pre-earnings close Thursday.  Be advised, this is a 52-week high as the 52-week range is $5.30 to $16.85.  Average volume is close to 11 million shares.  This may be a ‘tail wagging the dog’ but we’d watch Broadcom Corporation (NASDAQ: BRCM) and Texas Instruments Inc. (NYSE: TXN) on this news.

JON OGG