Why These 10 Firms Nosedived Today

8. Marvell Technology, Inc. (NASDAQ:MRVL)

Marvell Technology tumbled by 8.02 percent on Wednesday, a third straight day, to finish at $56.31 apiece as investor sentiment was dampened further by a pessimistic revenue outlook for the first quarter of fiscal year 2026.

While Marvell Technology, Inc. (NASDAQ:MRVL) affirmed the midpoint of the revenue guidance at $1.875 billion, it said it now expects a plus or minus 2 percent margin, narrower than the plus or minus 5 percent earlier.

Additionally, the company said it has postponed its investor day originally scheduled for June 10, citing the dynamic macroeconomic environment, but underscored the ongoing progress in its AI custom silicon business.

Earlier this year, Marvell Technology, Inc. (NASDAQ:MRVL) entered into a definitive agreement with Infineon Technologies AG for the sale of its automotive Ethernet business, Brightlane, for $2.5 billion. The sale was expected to generate revenues between $225 million and $250 million for fiscal year 2026.