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CNBC

Investing Club: Earnings show this chip stock we own is a data center, 5G and automotive powerhouse

Marvell Technology (MRVL), which we own in the Charitable Trust, reported blowout third quarter earnings after the closing bell Thursday. Net revenue increased 61% year over year (YoY) to $1.211 billion, exceeding estimates of $1.149 billion, according to FactSet. Adjusted earnings per share grew 72% YoY to $0.43, beating the FactSet consensus of $0.38 and topping the high end of management's guidance range. In addition to the headline results, non-GAAP gross margins and operating margins were both records at 65.1% and 34.5%, respectively.
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Moderna Inc. stock falls Thursday, underperforms market

Shares of Moderna Inc. (MRNA) shed 2.94% to $301.49 Thursday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ Composite Index (COMP) rising 0.83% to 15,381.32 and the Dow Jones Industrial Average (DJIA) rising 1.82% to 34,639.79. This was the stock's third consecutive day of losses. Moderna Inc. closed $196.00 short of its 52-week high ($497.49), which the company achieved on August 10th.
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Jobs report preview: Did solid hiring draw in more workers?

WASHINGTON (AP) — Inflation is surging. Supply chains are snarled. And yet economists predict that America’s employers delivered another month of solid job growth in November on the strength of steady consumer spending. Beneath the headline figures on hiring and unemployment, though, lurks a potentially even more consequential question: Are...
BUSINESS

Netflix Inc. stock underperforms Thursday when compared to competitors

Shares of Netflix Inc. (NFLX) slumped 0.21% to $616.47 Thursday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index (SPX) rising 1.42% to 4,577.10 and the Dow Jones Industrial Average (DJIA) rising 1.82% to 34,639.79. This was the stock's fourth consecutive day of losses. Netflix Inc. closed $84.52 short of its 52-week high ($700.99), which the company reached on November 17th.
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Ollie's Bargain stock drops 13% after retailer hit harder by supply-chain snags

Shares of Ollie's Bargain Outlet Holdings Inc. fell more than 13% in the extended session Thursday after the retailer reported lower profit and sales, saying it was hit by "greater-than-anticipated supply-chain headwinds." Ollie's said it earned $23.2 million, or 36 cents a share, compared with $45.2 million, or 68 cents a share, in the year-ago period. Adjusted for one-time items, Ollie's earned 34 cents a share. Sales fell 7.5% to $383.5 million, the company said. Analysts polled by FactSet were looking at consensus EPS of 47 cents on sales of $415 million. "Our third-quarter performance was impacted by greater-than-anticipated supply chain-related headwinds, leading to lower than expected results," Chief Executive John Swygert said in a statement. These were transitory for the most part and Ollie's is taking steps to navigate the challenges, but the "pressures have continued to impact our business in the fourth quarter," he said. Same-store sales fell 15.5%, compared with a 15.3% increase a year ago and a 1.3% drop in the third quarter of fiscal 2019, Ollie's said. The shares ended the regular trading day up 2.7%.
STOCKS

Bank of America Corp. stock outperforms market on strong trading day

Shares of Bank of America Corp. (BAC) rose 2.89% to $44.89 Thursday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index (SPX) rising 1.42% to 4,577.10 and the Dow Jones Industrial Average (DJIA) rising 1.82% to 34,639.79. The stock's rise snapped a four-day losing streak. Bank of America Corp. closed $3.80 short of its 52-week high ($48.69), which the company reached on November 3rd.
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Microsoft Corp. stock outperforms competitors despite losses on the day

Shares of Microsoft Corp. (MSFT) slumped 0.18% to $329.49 Thursday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index (SPX) rising 1.42% to 4,577.10 and the Dow Jones Industrial Average (DJIA) rising 1.82% to 34,639.79. This was the stock's third consecutive day of losses. Microsoft Corp. closed $20.18 short of its 52-week high ($349.67), which the company reached on November 22nd.
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