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via finance.yahoo.comTech & AI

Marvell falls 6.6% as Lumentum deal spread widens to 18%

FROM THE WIRE · FINANCE.YAHOO.COM

This article first appeared on GuruFocus. Marvell Technology (NASDAQ:MRVL) shares fell 6.6% to $153.60 as of 10:10 a.m. ET in Friday's regular session on November 13, as Nvidia's leadership change weighed on its optical-networking partners. Nvidia holds a $2 billion stake in…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishMarvell's drop reflects pressure on its biggest deal and optical partnership with Nvidia.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Marvell fell 6.6% to $153.60 in Friday's session on November 13.
  2. 02On November 2, Marvell agreed to buy Lumentum in an all-stock deal valued at $115 billion.
  3. 03Nvidia holds a $2 billion stake in Marvell.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Marvell Technology, Inc.MRVLStock153.68 USD+0.37%today -6.55%Negative Lumentum Holdings Inc.LITEStock586.80 USD+0.65%today -6.06%Neutral NVIDIA CorporationNVDAStock160.23 USD+0.19%today -3.59%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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