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Two Ways To Play: Less Than Marvell-ous?


Strengthen your portfolio in good times and bad.


Marvell Lower on Slower Sales

Shares of Marvell Technology (MRVL) are lower this morning after the company gave a forecast that indicated sales growth is slowing. Bloomberg reports the maker of chips for phones such as Research In Motion's (RIMM) BlackBerry and Apple's (AAPL) iPhone, posted second-quarter results of 24 cents a share which ended August 2.

That was better than expectations of 21 cents a share, but Marvell said sales in the current quarter would come in between $860 million and $880 million, missing the $889 million predicted by analysts. MRVL Shares fell 2.5% in premarket trading to $14.76.

From the Bull Pen: Professor Sean Udall has positively mentioned MRVL, and the shares seem to have support near the $14 level. Those bullish can set sell stops below that mark.

From the Bear Cave: Bears looking for a play might see one in Google (GOOG). A rally back towards $500 could complete a right shoulder. Downside entry if the stock can rally to that level.

Nintendo Raises Guidance on Wii

Bloomberg reports Nintendo (NTDOY) raised its full-year outlook by 26% because of higher-than-expected sales of its Wii game consoles and DS players. The company said it expects to earn 410 billion yen, or $3.8 bln, in the year ending March 31. That beat analysts' estimates of 382.6 billion yen.

The company forecasts Wii sales to rise 42% this year and reversed previous projections that DS sales will drop. Analysts believe the company may surpass Sony (SNE) this year as the world's largest maker of game players which would be the first time in at least 13 years. Shares rose 8% in Japan.

From the Bull Pen: Bulls can look elsewhere for a tech play. One that has been perking up is VMware (VMW); sell stops can be set near $37.

From the Bear Cave: We've mentioned a downside play in NTDOY. Bears can initiate a new short position if the stock can recover to the $60- 63 range. Buy stops can be set above $63.

For more ideas in real time throughout the trading day, check out Minyanville's Buzz & Banter.

Quick Check Around the World

Asian trading closed with the Hang Seng +1.38%, Nikkei +2.39%, Sensex +3.67%, Taiwan +0.18% and Shanghai +2.01%.

A quick check across the pond finds the CAC +0.60%, DAX +0.13%, FTSE +0.47%

As of 8:35 AM EST, S&P futures are lower 2.8 points to 1295, and Nasdaq futures are down 4 points to 1901.

A Look At Commodities

Crude oil
is up +1.15 to 116.72. Gold is higher +1.90 to 835.20. Silver is up +0.121 to 13.725, and copper is lower -3.40 to 339.30.

The dollar index is down -0.225 to 76.927.

On the Radar

Personal Income: -0.7% vs. -0.2% cons.
Personal Spending: 0.2% inline.
PCE Deflator (y/y): 4.5% inline.
PCE Core (m/m): 0.3% inline.
PCE Core (y/y): 2.4% inline

9:45 Chicago Purchasing Manager: 50.0 cons.
10:00 U. of Michigan Confidence: 62.0 cons.
10:00 NAPM-Milwaukee: 44.0 prior.

Happy Friday! Good luck and have a great weekend!

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No positions in stocks mentioned.

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