The stock market is down Friday, with the Dow Jones Industrial Average down 0.70%, the Nasdaq down 0.64% and the S&P 500 down 0.52%. Today’s sole winner is a networking hardware firm that beat Wall Street expectations, while today’s loser is a semiconductor manufacturer that will post lower third-quarter revenue than previously expected.
This is Friday’s market winner and loser.
Biggest Winner
Shares of Riverbed Technology Inc. (NASDAQ: RVBD) are up 11.46% to $23.06 on trading volume of 5.5 million shares. The company posted a third-quarter profit of 28 cents a share, better than the 25 cents a share Wall Street analysts polled by Reuters expected. The 52-week high is $13.30.
Biggest Loser
Marvell Technology Group Ltd. (NASDAQ: MRVL) are down 11.83% to $7.79 on trading volume of 17.4 million. The company’s third quarter revenue will be between $765 million and $785 million, down from between $800 million and $850 million the company projected previously. Before Friday, the 52-week low was $8.67.
Samuel Weigley
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