GME, NTNX, MRVL Stocks In the News Today

GameStop shares are lower, due to the retailer's disappointing guidance

May 26, 2017 at 10:06 AM
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U.S. stocks are lower this morning, but are still boasting strong weekly gains. Among specific stocks on the move are video game retailer GameStop Corp. (NYSE:GME), cloud concern Nutanix Inc (NASDAQ:NTNX), and chip stock Marvell Technology Group Ltd. (NASDAQ:MRVL), all fresh out of the earnings confessional. Here's a quick look at what's moving shares of GME, NTNX, and MRVL. 

Lackluster Forecast Drops GME Stock

GameStop stock is down 8.7% at $21.57 this morning, after the company's first-quarter earnings results. While the retailer posted solid earnings and sales, it's full-year forecast is disappointing investors. The shares have struggled since topping out near $33 back in August, with recent breakout attempts stopped cold by GME's 200-day moving average. Extended downside could bring downgrades from analysts, since half of the brokerages covering GME stock say it's a "strong buy." 

Sales Beat, Outlook Send NTNX Stock Soaring

Better-than-expected fiscal third-quarter revenue has Nutanix stock up 14.4% at $20.10. The company also gave an upbeat current-quarter forecast, putting the shares on pace for their highest close since March 20. It looks like a number of bears are getting burned by today's price action, since short interest on NTNX stock jumped by almost 24% over the past two reporting periods. 

MRVL Stock Touches New High After 1Q Results

Marvell stock jumped to a six-year high of $17.73 out of the gate, and was last seen trading 1.6% higher at $17.22, thanks to better-than-expected first-quarter earnings. Oppenheimer reacted with an upgrade to "outperform" on top of a $23 price target, while Susquehanna, Jefferies, J.P. Morgan Securities, and Credit Suisse raised their respective price targets. MRVL stock has added 70% year-over-year, as it tries to live up to analysts' lofty expectations. Even before today, the shares had an average 12-month price target of $19.44.

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