Marvell Says No New Guidance; Worried on Economy

Marvell (MRVL) said in a statement issued to Tech Trader Daily late Wednesday afternoon that it did not provide investors with new guidance in its one-on-one meetings with investors at the Citigroup technology conference earlier in the day, but that its statements were consistent with its concerns about the softening economy.

The statement was in response to a post I wrote earlier in the day about a deep slide in Marvell’s stock price. In that post, I wrote that “trading sources say [Marvell CFO Clyde] Hosein told investors in one-on-one presentations at the conference not to model any sequential growth in revenue for the January and April quarters due to the soft economy.”

Read the rest of this post