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May 29, 2023
Marvell Technology Group is Friday's top mover after gaining 32.42%
Markets closed higher Friday; Nasdaq ended the session at 12,976 after a 2.19% gain. S&P 500 closed the day at 4,205.45, having gained 1.3%.
“Top Movers” are assets that recorded the highest percentage change compared to their nearest peers. Friday's most active technology stocks are listed below.
Marvell Technology Group | Up 32.42% to $65.51 Friday
The integrated circuits developer traded at $65.51 Friday, after making its biggest single-day jump of $16.04 (32.42%) since December 2021. The integrated circuits developer has fallen back around 24.48% from the significant high of $65.51 set 3 days ago. So far this year, it has been beating the Nasdaq by 127.58%. Marvell Technology Group is currently trading with a market cap of $56.28 billion with an average daily volume of 16.74 million shares.
Marvell Technology Group released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 0.37 per share on revenue of $1.32 billion, topping estimates of 0.29 per share on revenue of $1.30 billion. Since the release of its earnings report, Marvell Technology Group gained 42.47%.
RingCentral | Closed +17.9% at $34.78
The US software company closed Thursday at $29.5. Friday, it gained 17.9% and remained around $34.78.
C3.ai opened at $28.75 Friday before posting solid session gaining 15.95%
Friday's session pointed in the same direction — ending Thursday at $28.41, the enterprise AI software provider rallied 15.95% Friday and stayed at the $32.94 level. C3.ai's market cap currently stands at $3.70 billion with an average daily trading volume of 19.97 million shares.
C3.ai is scheduled to announce earnings results Wednesday. The consensus EPS estimate is -0.17 and the consensus revenue estimate is $71.32 million.
