Marvell Technology, Inc., together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; custom application specific integrated circuits; and System-on-a-Chip solutions. The company also provides electro-optical products, including pulse amplitude modulations, coherent digital signal processors, laser drivers, trans-impedance amplifiers, silicon photonics, and data center interconnect solutions; fibre channel products comprising host bus adapters and controllers; single or multiple core processors; storage controllers for hard disk drives and solid-state-drives; and host system interfaces, including serial attached SCSI, serial advanced technology attachment, peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics. It has operations in the United States, Argentina, China, India, Israel, Japan, Singapore, South Korea, Taiwan, and Vietnam. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.

Marvell Technology, Inc.

Below is Validea's guru fundamental report for MARVELL TECHNOLOGY INC (MRVL). Of the 22 guru strategies we follow, MRVL rates highest using our Quantitative Momentum Investor model based on the published strategy of Wesley Gray. This momentum model looks for stocks with strong and consistent intermediate-term relative performance.
MARVELL TECHNOLOGY INC (MRVL) is a large-cap value stock in the Semiconductors industry. The rating using this strategy is 66% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
SEASONALITY
NEUTRAL
Detailed Analysis of MARVELL TECHNOLOGY INC
MRVL Guru Analysis
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About Wesley Gray: Wesley Gray is the founder of Alpha Architect and the author (along with co-author Jack Vogel) of "Quantitative Momentum A Practitioner's Guide to Building a Momentum-Based Stock Selection System". He is also the author (along with co-author Tobias Carlisle) of "Quantitative Value: A Practitioner's Guide to Automating Intelligent Investment and Eliminating Behavioral Errors". He is an industry recognized expert in the application of quantitative investing strategies. Wes is also a former Marine and has his Phd from the Univerisity of Chicago, where he studied under Nobel Prize winner Eugene Fama.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

MRVL Quantitative Stock Analysis

For Immediate Release
Chicago, IL – December 16, 2025 – Zacks Equity Research shares Marvell Technology MRVL, as the Bull of the Day and Chipotle Mexican Grill CMG, as the Bear of the Day. In addition, Zacks Equity Research provides analysis on — MACOM Technology Solutions Holdings, Inc. MTSI and Advanced Micro Devices, Inc. AMD.
Here is a synopsis of all three stocks:
Marvell Technology is a Zacks Rank #1 (Strong Buy) fabless semiconductor company that designs analog, mixed signal, and digital signal processing chips used to move, store, and secure data.
Its products sit at the core of modern data infrastructure, powering hyperscale data centers, enterprise networking, carrier infrastructure, and edge applications. Marvell delivers highly integrated systems on a chip and system in a package solution, largely built on ARM architectures, to enterprise and consumer customers around the world.
The stock has pulled back since reporting earnings, giving investors an entry point into a high quality data infrastructure semiconductor leader with expanding exposure to AI driven data center and networking demand.
About the Company
Marvell is a critical supplier of custom and merchant silicon across data center and networking markets. Its product portfolio includes application processors, ethernet controllers and switches, networking and communications processors, interconnect and optical DSP solutions, and custom ASICs for hyperscale customers.
The company also maintains meaningful exposure to storage, carrier infrastructure, industrial, and consumer markets, though the business is now firmly anchored in data infrastructure.
MRVL is valued at $72 billion and has a Forward PE of 30. The stock has Zacks Style Scores of “F” in Value, but “A” in Momentum.
Q3 Earnings Beat
Marvell delivered a solid third quarter earnings beat, showing impressive growth of its data center driven growth profile. The company reported adjusted EPS of $0.76, edging past consensus expectations, on revenue of $2.07B, also slightly ahead of estimates and a new quarterly record.
Management highlighted strong demand across data center products as the primary driver, with data center revenue up 38% year over year to $1.52 billion. Non-GAAP gross margin came in at 59.7%, reflecting continued mix shift toward higher value interconnect and custom silicon solutions.
Guidance was equally encouraging, with Marvell guiding fourth quarter revenue to $2.20 billion at the midpoint, ahead of expectations and implying more than 20% year over year growth, with adjusted EPS of $0.74 to $0.84. Management now expects full year revenue growth to exceed 40% and sees data center revenue accelerating into next year.
The company also announced the acquisition of Celestial AI, a transformational move that strengthens Marvell’s position in next generation optical interconnect for AI data centers. While revenue contributions from Celestial AI are expected to begin in the second half of fiscal 2028, management outlined a clear path to a $500 million run rate by fiscal 2028 and $1 billion by fiscal 2029, reinforcing confidence in Marvell’s long term growth trajectory tied to AI scale up infrastructure.
Estimates Head Higher
Analysts have raised earnings estimates slightly higher for both the current quarter and next quarter. Looking at the current year, estimates have moved from $2.80 to $2.84 since earnings.
For the next year, estimates have gone from $3.34 to $3.57 over the last 30 days. This is a jump of 7%, which shows analysts' bullish expectations for the company down the road.
Price targets have been going higher with those estimates:
Citigroup resumed coverage, putting a Buy on MRVL with a $114 target.
B. Riley Securities reiterated MRVL with a Buy and raised their price target to $130. That target is 50% higher than current trading levels.
The Technical Take
MRVL was trending nicely higher into earnings and then made a new high not seen since February. But some recent selling in the semi space has brought the stock lower, with investors seeing a move from above $100 to the mid-$80s.
Let’s look at some moving averages:
21-day: $87.50
50-day: $88.00
200-day: $74
That stock held the Fibonacci support areas at $87, but that has given away along with the smaller moving averages. The $75-80 area was the prior support area in November and could be a good entry spot for investors looking for a rally into 2026.
In Summary
Marvell checks the key boxes investors want: accelerating earnings, rising estimates, strong momentum, and deep exposure to long duration AI and data center spending.
The recent pullback appears driven more by sector wide semiconductor volatility than any change in fundamentals, especially given management’s confident outlook and improving revenue visibility.
With analysts raising forecasts, price targets moving higher, and a multiyear growth runway tied to custom silicon and optical interconnect, MRVL looks well positioned for a renewed move higher. For investors willing to look past short- term volatility, the current consolidation offers an attractive opportunity to build exposure to a high quality data infrastructure leader heading into 2026.
Chipotle Mexican Grill is a Zacks Rank #5 (Strong Sell), that is a fast casual restaurant operator that focuses on made to order Mexican inspired food using fresh ingredients.
The company operates company owned restaurants that serve burritos, bowls, tacos, and salads, with a strong emphasis on digital ordering and in restaurant throughput.
While Chipotle has been a standout long term growth story, the stock now faces pressure from elevated valuation, slowing traffic trends, and rising cost risks.
About the Company
Chipotle operates more than 3,400 restaurants, primarily in the United States, with a smaller but growing international footprint. Unlike many restaurant peers, Chipotle owns and operates all its locations, giving it greater control over food quality, pricing, and operations. The company’s streamlined menu and efficient assembly line format support strong unit economics and industry leading margins.
Growth has been driven by new restaurant openings, menu pricing, digital sales, and operational initiatives such as the Chipotlane drive thru format. However, with the stock trading at a premium multiple and margins near cycle highs, expectations remain elevated.
The company has a market cap of $48B and holds Zacks Style Scores of “F” in Value and Momentum.
Q3 Earnings
Chipotle reported Q3 adjusted EPS of $0.29, slightly above the $0.28 consensus, on revenue of $3.00 billion, just below expectations of $3.02 billion. Same-store sales rose only 0.3% year over year, a sharp deceleration from prior growth of 6%, while restaurant operating margins slipped to 15.9% from 16.9% last year.
Digital sales made up 36.7% of food and beverage revenue, reflecting channel maturity but limited upside from this segment.
Management cited persistent macro pressures, with roughly 40% of sales coming from younger guests under $100K who face wage and debt pressures, weighing on dining frequency.
While the company continues to invest in marketing, menu innovation, and digital engagement, Chipotle lowered its full-year same-store sales guidance to a low-single-digit decline, signaling near-term transaction headwinds despite ongoing restaurant expansion. Operational efficiency initiatives like the HEAP rollout are underway, but benefits will accrue over time, leaving margins under pressure in the short term.
Earnings Estimates
Since earnings, analyst estimates have dropped across all time frames:
For the current quarter, estimates have fallen from $0.28 to $0.24, or 14% over the last 60 days.
For next quarter, estimates have gone from $0.33 to $0.28, or 15%.
Looking at next year we see a 14% drop over the last 90 days. That fall doesn’t reflect a positive trend for a company that has always shown impressive growth.
Technical Take
The stock is down 35% for the year, but 20% off the recent lows. Investors might be wise to take profits into the rally, so let us look at some moving averages that:
21-day: $33.25
50-day: $36
200-day: $45
The stock is currently trading at the 50-day MA, where it might find some resistance. If the 21-day can hold for the bulls, they might be able to fill the earnings gap at $40. However, if the stock falls below that $33 level, a sub $30 price is likely.
In Summary
Chipotle faces near-term headwinds despite its long-term brand strength. Slowing same-store sales, margin pressure, and declining analyst estimates highlight the challenges of sustaining growth in a high-cost, high-valuation environment. While operational initiatives and menu innovation may help over time, the stock’s elevated expectations and macro pressures suggest limited upside in the near term.
Additional content:
Can These 3 Semiconductor Stocks Lead the Next Tech Rally in 2026?
The bull run in equity markets in the outgoing year, following the tariff bloodbath, was largely driven by AI, with investors betting big on its inherent growth prospects. AI-based semiconductor chips are typically used in “training” AI systems to solve complex problems in split seconds. These chips include graphics processing units (GPUs), field-programmable gate arrays (FPGAs) and application-specific integrated circuits (ASICs), which dramatically accelerate the identical, predictable and independent calculations required by AI algorithms.
Cutting-edge AI systems need state-of-the-art semiconductor chips for perfect synchronization among themselves for superior performance standards. As computing requirements escalate, particularly in the realm of AI, there is a pressing need for strengthened semiconductor production to meet these rising demands. The 2022 Chips Act, allocating $39 billion in direct grants and $75 billion in loans and loan guarantees, stands as a cornerstone initiative by the U.S. government to revitalize domestic semiconductor production.
The One Big Beautiful Bill Act, passed by the Trump administration in July 2025, further aimed to spur chip production with tax credits of 35%, up from 25% levied earlier, if the semiconductor firms expanded domestic manufacturing capacity by the end of 2026. As these firms embark on ambitious expansion plans propelled by government support, the stage is set for a transformative shift in the semiconductor landscape, with far-reaching implications for technological advancement and economic growth.
Cloud Transition, Fiber Densification Buoy Chip Demand
Semiconductor chips are the building blocks of telecommunication equipment, electronic goods and IoT devices. With exponential growth in video and other bandwidth-intensive applications owing to the wide proliferation of smartphones and increased deployment of superfast 5G technology, telecommunications firms are considerably investing in LTE, broadband and fiber to provide additional capacity and ramp up the Internet and wireless networks while facilitating a seamless transition to the cloud.
MACOM Technology Solutions Holdings, Inc.: Based in Lowell, MA, MACOM offers power analog semiconductor solutions to varied markets. The company develops and produces analog radio frequency (RF), microwave and millimeter wave semiconductor devices, and components for applications in optical, wireless and satellite networks.
Changing data consumption patterns with a growing propensity to consume video content over IP have created the need for a faster data transfer rate. Solid demand for cloud-based services and the upgrade of data center architectures to 100G, 200G, 400G and 800G interconnects is expected to drive the adoption of MACOM’s higher-speed optical and photonic components.
MACOM is witnessing solid demand for components that enable 100GB connectivity in the data centers and service provider markets. Semiconductor chips from the company are also being increasingly used in military applications that require advanced electronic systems such as radar-warning receivers, communications data links and tactical radios, UAVs, RF jammers, electronic countermeasures, and smart munitions.
MACOM has a Zacks Industry Rank #83 (top 34%). With an ABR of 1.56, the stock has gained 25.9% over the past year. Earnings estimates for MACOM for the current and next fiscal year have moved up 6.9% and 36.8%, respectively, since December 2024. It has long-term earnings growth expectations of 21.8%. MACOM carries a Zacks Rank #2 (Buy).
Advanced Micro Devices, Inc.: Santa Clara, CA-based Advanced Micro has strengthened its position in the semiconductor market on the back of its strong product portfolio. It offers Virtex and Kintex, Artix, and Spartan FPGAs as well as System-on-Chip (SoC) like Zynq, Zynq UltraScale+ Multi-Processing System-on-a-Chip (MPSoC), Versal Adaptive SoC, Alveo accelerator cards, and Pensando data processing units (DPUs).
The latest MI300 series accelerator family strengthens AMD’s competitive position in the generative AI space. The accelerator is based on the AMD CDNA 3 accelerator architecture. It supports up to 192 GB of HBM3 memory, enabling efficient running of large language model training (up to 80 billion parameters) and inference for generative AI workloads. It is also benefiting from strong enterprise adoption and expanded cloud deployments.
In addition, strength in 7-nanometer-based processors is expected to strengthen the company's competitive position in the commercial and server markets. AMD is currently leveraging Taiwan Semiconductor Manufacturing Company's 7 nm process technology, which is enabling it to deliver its advanced 7 nm chips faster to market. The AMD Radeon RX 7900 series chiplet design combines 5 nm and 6 nm process nodes, each optimized for specific chips in the GPU.
With an ABR of 1.61, the stock has gained 66.3% over the past year. It has long-term earnings growth expectations of 43.3% and has a Zacks Industry Rank #14 (top 6%). AMD carries a Zacks Rank #3 (Hold).
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Marvell and Chipotle have been highlighted as Zacks Bull and Bear of the Day

Micron Technology, Inc. MU will report its first-quarter fiscal 2026 results on Dec. 17, after market close, and expectations are running high. The company has been gaining momentum due to the surge in artificial intelligence (AI) investments and its strong ties with leading tech firms.
The Zacks Consensus Estimate for first-quarter revenues and non-GAAP earnings per share indicates year-over-year growth of 45.7% and 117.3%, respectively. Robust sales at the company’s Dynamic Random Access Memory (“DRAM”) business are likely to have remained the key growth catalyst in the to-be-reported quarter.
Click here to know how Micron Technology’s overall fiscal first-quarter results are likely to be.
Micron Technology, Inc. Price and EPS Surprise
MU’s DRAM Business: AI-Led Demand to Boost Sales
Micron Technology has found itself in a sweet spot amid the AI revolution, which is driving the skyrocketing demand for memory and storage solutions. AI systems, particularly large language models (LLMs) and generative AI applications, require massive data processing and storage capabilities, creating a growing need for high-performance DRAM.
Micron Technology’s DRAM segment is expected to be the key growth driver of its first-quarter results. The Zacks Consensus Estimate for DRAM revenues stands at $10.13 billion, calling for stellar 58.3% year-over-year growth.
This not only underscores Micron Technology’s market strength but also highlights the improved pricing dynamics in the DRAM industry. After struggling with oversupply issues in previous years, the memory market is showing signs of stabilization, which has strengthened pricing power and boosted MU’s margins.
Moreover, Micron Technology’s mass production of its HBM3E (high-bandwidth memory) for NVIDIA Corporation’s NVDA next-generation AI chips, including the H200 and GB200 GPUs, has positioned it as a vital supplier for AI powerhouses. With HBM memory in short supply and NVIDIA driving relentless AI demand, Micron Technology’s pricing leverage for these premium products is likely to be a major DRAM revenue booster in the first quarter.
MU Benefits From a Strong Partner Base
Micron Technology’s partnerships with major tech players such as NVIDIA, Advanced Micro Devices, Inc. AMD and Marvell Technology, Inc. MRVL are giving it a big edge in the AI race. These partnerships help MU secure steady revenue streams and cement its reputation as a trusted supplier in the high-performance computing space.
Micron Technology’s ties with NVIDIA are especially valuable. NVIDIA has confirmed Micron as a key HBM supplier for its Blackwell GPUs, linking MU to the fast-growing AI hardware ecosystem. Advanced Micro Devices is another major partner. Micron Technology’s HBM3E chips are being used in Advanced Micro Devices’ AI-enabled Instinct MI350 GPUs, which are boosting sales as AI infrastructure spending rises. MU is likely to have capitalized on this massive AI infrastructure buildout in the to-be-reported quarter.
Micron Technology is also working with Marvell Technology on custom memory solutions. Marvell Technology is building advanced AI silicon, and MU’s memory chips are part of its high-performance systems. These partnerships show that the memory chip maker is becoming a go-to supplier for companies building AI data centers and related technology.
The abovementioned factors are likely to have driven this Zacks Rank #1 (Strong Buy) company’s overall growth in the to-be-reported quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
5 Stocks Set to Double
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Stock #1: A Disruptive Force with Notable Growth and Resilience
Stock #2: Bullish Signs Signaling to Buy the Dip
Stock #3: One of the Most Compelling Investments in the Market
Stock #4: Leader In a Red-Hot Industry Poised for Growth
Stock #5: Modern Omni-Channel Platform Coiled to Spring
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.
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AI-Fueled Demand to Boost Micron Technology's DRAM Revenues in Q1

ASML Holding ASML has had a remarkable run so far this year, with its shares soaring 55.9% year to date (YTD). At the closing price of $1,080.85 as of Dec. 12, ASML stock trades just 5.3% below the 52-week high of $1,141.72.
Shares of the company have outperformed the Zacks Computer and Technology sector’s YTD gain of 25.5%. ASML Holding is also among the top-performing semiconductor stocks, including Broadcom AVGO, NVIDIA NVDA and Marvell Technology MRVL. YTD, shares of Broadcom and NVIDIA have soared 55.2% and 30.3%, respectively, while Marvell Technology declined 23.6%.
ASML Holding YTD Price Return Performance
Image Source: Zacks Investment Research
This outperformance shows investors are becoming increasingly confident in ASML Holding’s long-term prospects, even in a volatile market shaped by trade conflicts and geopolitical risks. However, as the stock trades near its 52-week high, investors might be wondering whether to buy more ASML shares or exit the investment.
Considering ASML Holding’s strong fundamentals and near-monopoly on essential semiconductor manufacturing equipment, the stock seems to be worth buying right now.
EUV Technology: ASML’s Key Growth Tailwind
ASML Holding’s leadership in extreme ultraviolet (EUV) lithography continues to set it apart from every other chip equipment maker. It holds a near-monopoly on this technology, which is critical for manufacturing the world’s most advanced chips at 3nm and below. Major customers like TSMC, Samsung and Intel rely on ASML’s systems to stay ahead in chip innovation, giving ASML extraordinary pricing power and strategic importance.
The next phase of growth lies in ASML Holding’s High Numerical Aperture (High-NA) EUV systems. These tools are designed for sub-2nm production, representing the next technological leap for chipmakers. While adoption has taken longer than initially expected, the long-term potential is significant. As the industry moves toward denser and more efficient chips, ASML’s High-NA machines will be central to that shift.
ASML Holding is already making progress in this area. On its third-quarter 2025earnings call management confirmed that SK hynix received its first High-NA EXE:5200 system. This follows ASML’s first shipment and installation of the EXE:5200 system in the second quarter of 2025. These systems will support manufacturing at the 1.4nm node and beyond. ASML expects commercial adoption to begin in late 2026 or early 2027, creating a strong, multi-year growth driver.
Additionally, the accelerating demand for artificial intelligence (AI) is giving ASML Holding another powerful growth tailwind. AI workloads need cutting-edge chips with massive processing power and efficiency. This indicates more demand for advanced graphics processing units, AI accelerators and high-bandwidth memory, all of which depend on the kind of precision lithography ASML’s EUV machines deliver.
Because EUV technology is so complex and expensive to replicate, ASML Holding enjoys deep competitive protection. There’s no realistic rival in sight capable of challenging its dominance. This gives ASML not just pricing flexibility but a level of business stability rare in the semiconductor sector. As AI adoption continues across industries, ASML’s technology will remain indispensable in powering this new wave of computing.
ASML Holding’s Resilient Financial Performance
ASML Holding’s last reported third-quarter 2025 results reinforced the company’s financial strength. Earnings grew 3.8% year over year to €5.48 per share. In U.S. dollar terms, earnings came in at $6.41 per share, beating the Zacks Consensus Estimate by 2.2%. Revenues rose 0.7% to €7.52 billion, supported by a robust 27% increase in the services and field operations segment.
ASML Holding N.V. Price, Consensus and EPS Surprise
Although system sales slipped 6.3% due to a shift in product mix, the gross margin expanded to 51.6%, up 80 basis points. During the third-quarterearnings call CFO Roger Dassen noted that higher volumes of low-NA EUV tools and upgrades helped margins.
For the fourth quarter, ASML Holding expects revenues to be between €9.2 billion and €9.8 billion, a significant sequential increase. The company also anticipates gross margins of 51-53%, indicating a 40-basis-point sequential improvement at the midpoint. For full-year 2025, management projects sales to grow around 15%, with margins of nearly 52%, showing sustained demand for ASML’s products.
ASML’s Fundamentals Justify Premium Valuation
ASML stock isn’t cheap. It trades at a forward 12-month price-to-earnings (P/E) of 35.95X compared with the sector average of 28.16X. However, that valuation looks more reasonable when viewed through the lens of ASML Holding’s market position. The company’s monopoly in EUV lithography, expanding role in advanced chip production and consistent margin performance justify a premium multiple.
ASML Holding Forward 12-Month P/E Ratio
Image Source: Zacks Investment Research
Compared to other semiconductor players, ASML Holding has a higher P/E multiple than NVIDIA and MRVL but a lower multiple than Broadcom. Currently, Broadcom, NVIDIA and Marvell Technology trade at P/E multiples of 37.83, 25.84 and 24.31, respectively.
Final Thoughts: Buy ASML Stock for Now
ASML Holding’s unmatched dominance in EUV and emerging High-NA lithography, combined with surging AI-related chip demand, is likely to continue supporting its financial performance over the long run. With strong revenue visibility, improving margins and expanding customer adoption, ASML’s fundamentals justify adding the stock at current levels for long-term investors.
Currently, ASML Holding carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They include
Stock #1: A Disruptive Force with Notable Growth and Resilience
Stock #2: Bullish Signs Signaling to Buy the Dip
Stock #3: One of the Most Compelling Investments in the Market
Stock #4: Leader In a Red-Hot Industry Poised for Growth
Stock #5: Modern Omni-Channel Platform Coiled to Spring
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

ASML Holding Stock Trades Near 52-Week High: Is It Still Worth Buying?

Below is Validea's guru fundamental report for MARVELL TECHNOLOGY INC (MRVL). Of the 22 guru strategies we follow, MRVL rates highest using our Contrarian Investor model based on the published strategy of David Dreman. This contrarian strategy finds the most unpopular mid- and large-cap stocks in the market and looks for improving fundamentals.
MARVELL TECHNOLOGY INC (MRVL) is a large-cap value stock in the Semiconductors industry. The rating using this strategy is 50% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EPS GROWTH RATE IN THE IMMEDIATE PAST AND FUTURE:
FAIL
Detailed Analysis of MARVELL TECHNOLOGY INC
More Information on David Dreman
About David Dreman: Dreman's Kemper-Dreman High Return Fund was one of the best-performing mutual funds ever, ranking as the best of 255 funds in its peer groups from 1988 to 1998, according to Lipper Analytical Services. At the time Dreman published Contrarian Investment Strategies: The Next Generation, the fund had been ranked number one in more time periods than any of the 3,175 funds in Lipper's database. In addition to managing money, Dreman is also a longtime Forbes magazine columnist.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Guru Fundamental Report for MRVL

The S&P 500 Index ($SPX) (SPY) on Friday closed down by -1.07%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down by -0.51%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -1.91%. December E-mini S&P futures (ESZ25) fell -1.07%, and December E-mini Nasdaq futures (NQZ25) fell -1.94%.
Stock indexes sold off sharply on Friday, with the S&P 500 posting a 1.5-week low, the Nasdaq 100 a 2-week low, and the Dow Jones Industrial Average retreating from a new all-time high. Friday’s slump in technology shares weighed on the broader market.
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Broadcom plunged more than -11% to lead chip makers and tech stocks lower Friday after its sales outlook fell short of lofty expectations and the company failed to provide an AI revenue forecast for 2026. This week’s disappointing outlooks from Oracle and Broadcom have also prompted some investors to rotate out of the tech sector amid lofty valuations and uncertainty over whether vast spending on AI infrastructure will ultimately pay off. However, investor rotation out of tech stocks into industrial stocks is providing support to the Dow Jones Industrial Average.
Hawkish Fed comments on Friday pushed T-note yields higher and undercut stocks. The 10-year T-note yield rose about +3 bp after Chicago Fed President Austan Goolsbee, who voted against a Fed rate cut on Wednesday, said, "Given that inflation has been above our target for 4.5 years, further progress on it has been stalled for several months, and almost all the business people and consumers we have spoken to identify prices as a main concern, I felt the more prudent course would have been to wait for more information." Also, Kansas City Fed President Jeff Schmid said he dissented against the FOMC's decision to cut interest rates on Wednesday and prefers to keep policy "modestly restrictive" because inflation remains too high and the economy continues to show momentum.
In addition, Cleveland Fed President Beth Hammack said, "I would prefer for the Fed to be on a slightly more restrictive stance to help continue to put pressure" on the inflation side of its mandate.
On the dovish side, Philadelphia Fed President Anna Paulson said, "On net, I am still a little more concerned about labor market weakness than about upside risks to inflation."
The markets are discounting a 24% chance that the FOMC will cut the fed funds target range by 25 bp at the next FOMC meeting on January 27-28.
Q3 corporate earnings season is virtually over as 497 of the 500 S&P companies have released results. According to Bloomberg Intelligence, 83% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021. Q3 earnings rose +14.6%, more than doubling expectations of +7.2% y/y.
Overseas stock markets settled mixed on Friday. The Euro Stoxx 50 fell from a 4-week high and closed down -0.58%. China’s Shanghai Composite recovered from a 2.5-week low and closed up +0.41%. Japan’s Nikkei Stock 225 rallied to a 4-week high and closed up +1.37%.
Interest Rates
March 10-year T-notes (ZNH6) on Friday closed down by -9 ticks. The 10-year T-note yield rose +3.5 bp to 4.192%. Hawkish Fed comments on Friday weighed on T-note prices. Chicago Fed President Austan Goolsbee said that, given higher inflation, the more prudent course would have been for the Fed to wait for more information before cutting rates. Also, Kansas City Fed President Jeff Schmid and Cleveland Fed President Beth Hammack said they prefer to keep policy "modestly restrictive" because inflation remains too high and the economy continues to show momentum. T-note prices had underlying support from safe-haven demand amid Friday’s stock weakness.
T-notes are also under pressure due to steepening trades, where bond investors buy short-term government debt and sell long -term debt. The yield curve has steepened since Wednesday’s FOMC meeting, when the Fed said it would begin purchasing up to $40 billion of short-term T-bills a month, starting today, to boost liquidity in the financial system. Longer-term Treasury securities are also under pressure from concerns about inflation and the Fed’s independence.
European government bond yields moved higher on Friday. The 10-year German bund yield rose +1.4 bp to 2.857%. The 10-year UK gilt yield rose +3.3 bp to 4.517%.
UK Oct manufacturing production rose +0.5% m/m, weaker than expectations of +1.1% m/m.
Swaps are discounting a 0% chance for a -25 bp rate cut by the ECB at its next policy meeting on December 18.
US Stock Movers
Broadcom (AVGO) sank more than -11% to lead chip stocks lower after its sales outlook fell short of lofty expectations and the company failed to provide an AI revenue forecast for 2026. Also, Micron Technology (MU) closed down by more than -6%, and Marvell Technology (MRVL) and Lam Research (LRCX) closed down by more than -5%. In addition, KLA Corp (KLAC), Advanced Micro Devices (AMD), and Applied Materials (AMAT) closed down more than -4%. Finally, Intel (INTC), Nvidia (NVDA), ASML Holding NV (ASML), GlobalFoundries (GFS), and ARM Holdings Plc (ARM) closed down more than -3%.
AI-linked power stocks retreated on Friday after Broadcom’s sales outlook failed to impress. Vertiv Holdings (VRT) closed down more than -9%, and Amphenol (APH) and Constellation Energy (CEG) closed down more than -7%. Also, Eaton Corp Plc (ETN) closed down by more than -5%, and GE Vernova (GEV) closed down by more than -4%.
Cryptocurrency-exposed stocks were under pressure Friday as Bitcoin (^BTCUSD) fell more than -3%. Galaxy Digital Holdings (GLXY) closed down more than -10%, and Strategy (MSTR) closed down more than +3%. Also, Riot Platforms (RIOT) and MARA Holdings (MARA) closed down more than -2%, and Coinbase Global (COIN) closed down -0.58%.
Sandisk (SNDK) closed down more than -14% to lead losers in the S&P 500 after GF Securities downgraded the stock to hold from buy.
Netskope (NTSK) closed down more than -11% after reporting a Q3 adjusted net loss of -10 cents per share and forecasting a full-year adjusted net loss of -51 cents to -53 cents.
Ciena Corp (CIEN) closed down more than -9% after Northland Securities downgraded the stock to market perform from outperform.
Roblox (RBLX) closed down more than -6% after JPMorgan Chase downgraded the stock to neutral from overweight.
Veeva Systems (VEEV) closed down more than -2% after KeyBanc Capital Markets downgraded the stock to sector weight from overweight.
Lululemon Athletica (LULU) closed up more than +9% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q3 EPS of $2.59, stronger than the consensus of $2.22, and raising its 2026 EPS forecast to $12.92-$13.02 from a previous forecast of $12.77-$12.97, above the consensus of $12.89.
Quanex Building Products (NX) closed up more than +9% after reporting Q4 adjusted EPS of 83 cents, well above the consensus of 52 cents.
General Electric (GE) closed up more than +3% after Citigroup initiated coverage on the stock with a recommendation of buy and a price target of $386.
Linde Plc (LIN) closed up more than +3% after Citigroup said the stock is a new top pick with a buy recommendation and a price target of $520.
Bristol-Myers Squibb (BMY) closed up more than +2% after Guggenheim Securities upgraded the stock to buy from neutral with a price target of $62.
Allegiant Travel (ALGT) closed up more than +1% after Deutsche Bank upgraded the stock to buy from hold with a price target of $105.
Earnings Reports(12/15/2025)
Dakota Gold Corp (DC), Lifezone Metals Ltd (LZM), Lionsgate Studios Corp (LION), Triller Group Inc (ILLR).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Sink as Chip Stocks Retreat and Bond Yields Climb

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in GE Aerospace (Symbol: GE), where a total volume of 21,572 contracts has been traded thus far today, a contract volume which is representative of approximately 2.2 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 48.2% of GE's average daily trading volume over the past month, of 4.5 million shares. Particularly high volume was seen for the $310 strike put option expiring February 20, 2026, with 1,295 contracts trading so far today, representing approximately 129,500 underlying shares of GE. Below is a chart showing GE's trailing twelve month trading history, with the $310 strike highlighted in orange:
Marvell Technology Inc (Symbol: MRVL) options are showing a volume of 106,075 contracts thus far today. That number of contracts represents approximately 10.6 million underlying shares, working out to a sizeable 47.9% of MRVL's average daily trading volume over the past month, of 22.1 million shares. Especially high volume was seen for the $85 strike put option expiring December 12, 2025, with 20,460 contracts trading so far today, representing approximately 2.0 million underlying shares of MRVL. Below is a chart showing MRVL's trailing twelve month trading history, with the $85 strike highlighted in orange:
And Hims & Hers Health Inc (Symbol: HIMS) options are showing a volume of 90,394 contracts thus far today. That number of contracts represents approximately 9.0 million underlying shares, working out to a sizeable 47.4% of HIMS's average daily trading volume over the past month, of 19.1 million shares. Particularly high volume was seen for the $38 strike call option expiring December 12, 2025, with 5,157 contracts trading so far today, representing approximately 515,700 underlying shares of HIMS. Below is a chart showing HIMS's trailing twelve month trading history, with the $38 strike highlighted in orange:
For the various different available expirations for GE options, MRVL options, or HIMS options, visit StockOptionsChannel.com.
Also see:
VRSK MACD
HCTI Videos
Micron Technology DMA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Friday Option Activity: GE, MRVL, HIMS

The S&P 500 Index ($SPX) (SPY) today is down by -0.86%, the Dow Jones Industrials Index ($DOWI) (DIA) is down by -0.39%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -1.85%. December E-mini S&P futures (ESZ25) are down -0.85%, and December E-mini Nasdaq futures (NQZ25) are down -1.87%.
Stock indexes are falling today, with the Dow Jones Industrials retreating from a new all-time high and the Nasdaq 100 dropping to a 1.5-week low. Today’s retreat in technology shares is weighing down the broader market.
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Broadcom is down more than -10% to lead chip makers and tech stocks lower today after its sales outlook fell short of lofty expectations and the company failed to provide an AI revenue forecast for 2026. This week’s disappointing outlooks from Oracle and Broadcom have also prompted some investors to rotate out of the tech sector amid lofty valuations and uncertainty over whether vast spending on AI infrastructure will ultimately pay off. However, investor rotation out of tech stocks into industrial stocks is providing support to the Dow Jones Industrial Average.
Hawkish Fed comments today have pushed T-note yields higher and are weighing on stocks. The 10-year T-note yield up about +2 bp after Chicago Fed President Austan Goolsbee, who voted against a Fed rate cut on Wednesday, said, "Given that inflation has been above our target for 4.5 years, further progress on it has been stalled for several months, and almost all the business people and consumers we have spoken to identify prices as a main concern, I felt the more prudent course would have been to wait for more information." Also, Kansas City Fed President Jeff Schmid said he dissented against the FOMC's decision to cut interest rates on Wednesday and prefers to keep policy "modestly restrictive" because inflation remains too high and the economy continues to show momentum.
In addition, Cleveland Fed President Beth Hammack said, "I would prefer for the Fed to be on a slightly more restrictive stance to help continue to put pressure" on the inflation side of its mandate.
On the dovish side, Philadelphia Fed President Anna Paulson said, "On net, I am still a little more concerned about labor market weakness than about upside risks to inflation."
The markets are discounting a 24% chance that the FOMC will cut the fed funds target range by 25 bp at the next FOMC meeting on January 27-28.
Q3 corporate earnings season is virtually over as 496 of the 500 S&P companies have released results. According to Bloomberg Intelligence, 83% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021. Q3 earnings rose +14.6%, more than doubling expectations of +7.2% y/y.
Overseas stock markets are higher today. The Euro Stoxx 50 rose to a 4-week high and is up +0.05%. China’s Shanghai Composite recovered from a 2.5-week low and closed up +0.41%. Japan’s Nikkei Stock 225 rallied to a 4-week high and closed up +1.37%.
Interest Rates
March 10-year T-notes (ZNH6) today are down by -7 ticks. The 10-year T-note yield is up +2.4 bp to 4.180%. Hawkish Fed comments today are weighing on T-note prices. Chicago Fed President Austan Goolsbee said that, given higher inflation, the more prudent course would have been for the Fed to wait for more information before cutting rates. Also, Kansas City Fed President Jeff Schmid and Cleveland Fed President Beth Hammack said they prefer to keep policy "modestly restrictive" because inflation remains too high and the economy continues to show momentum. T-note prices have underlying support from safe-haven demand with today’s weakness in stocks.
T-notes are under pressure due to steepening trades, where bond investors buy short-term government debt and sell long -term debt. The yield curve has steepened since Wednesday’s FOMC meeting, when the Fed said it would begin purchasing up to $40 billion of short-term T-bills a month, starting today, to boost liquidity in the financial system. Longer-term Treasury securities are under pressure from concerns about inflation and the Fed’s independence.
European government bond yields are moving higher today. The 10-year German bund yield is up +2.1 bp to 2.864%. The 10-year UK gilt yield is up +3.4 bp to 4.518%.
UK Oct manufacturing production rose +0.5% m/m, weaker than expectations of +1.1% m/m.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on December 18.
US Stock Movers
Broadcom (AVGO) is down more than -10% to lead chip stocks lower after its sales outlook fell short of lofty expectations and the company failed to provide an AI revenue forecast for 2026. Also, Micron Technology (MU) is down more than -5%, and Lam Research (LRCX) is down more than -4%. In addition, KLA Corp (KLAC), Marvell Technology (MRVL), and Advanced Micro Devices (AMD) are down more than-3%. Finally, ASML Holding NV (ASML), GlobalFoundries (GFS), ARM Holdings Plc (ARM), and Applied Materials (AMAT) are down more than -2%.
AI-linked power stocks are under pressure today after Broadcom’s sales outlook failed to impress. Vertiv Holdings (VRT) is down more than -6%, and GE Vernova (GEV) and Amphenol (APH) are down more than -4%. Also, Eaton Corp Plc (ETN) is down by more than -3%, and Constellation Energy (CEG) is down more than -2%.
Sandisk (SNDK) is down more than -11% after GF Securities downgraded the stock to hold from buy.
Netskope (NTSK) is down more than -11% after reporting a Q3 adjusted net loss of -10 cents per share and forecasting a full-year adjusted net loss of -51 cents to -53 cents.
Ciena Corp (CIEN) is down more than -8% after Northland Securities downgraded the stock to market perform from outperform.
Roblox (RBLX) is down more than -3% after JPMorgan Chase downgraded the stock to neutral from overweight.
Veeva Systems (VEEV) is down more than -2% after KeyBanc Capital Markets downgraded the stock to sector weight from overweight.
Quanex Building Products (NX) is up more than +16% after reporting Q4 adjusted EPS of 83 cents, well above the consensus of 52 cents.
Lululemon Athletica (LULU) is up more than +8% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q3 EPS of $2.59, stronger than the consensus of $2.22, and raising its 2026 EPS forecast to $12.92-$13.02 from a previous forecast of $12.77-$12.97, above the consensus of $12.89.
General Electric (GE) is up more than +4% after Citigroup initiated coverage on the stock with a recommendation of buy and a price target of $386.
Phathom Pharmaceuticals (PHAT) is up more than +3% after Raymond James initiated coverage on the stock with a strong buy recommendation and a price target of $28.
Bristol-Myers Squibb (BMY) is up more than +2% after Guggenheim Securities upgraded the stock to buy from neutral with a price target of $62.
Linde Plc (LIN) is up more than +2% after Citigroup said the stock is a new top pick with a buy recommendation and a price target of $520.
Earnings Reports(12/12/2025)
Johnson Outdoors Inc (JOUT), SR Bancorp Inc (SRBK), Value Line Inc (VALU).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Tumble on Tech Stock Weakness and Higher Bond Yields

The S&P 500 Index ($SPX) (SPY) today is down by -0.20%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +0.16%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.75%. December E-mini S&P futures (ESZ25) are down -0.22%, and December E-mini Nasdaq futures (NQZ25) are down -0.73%.
Stock indexes are mixed today, with the Dow Jones Industrials posting a new all-time high. However, a retreat in technology shares is weighing down the broader market. Broadcom is down more than -7% to lead chip makers and tech stocks lower today after its sales outlook fell short of lofty expectations and the company failed to provide an AI revenue forecast for 2026. This week’s disappointing outlooks from Oracle and Broadcom have also spurred some investors to rotate out of the tech sector due to lofty valuations and uncertainty over whether vast spending on AI infrastructure will ultimately pay off. However, investor rotation out of tech stocks into industrial stocks is providing support to the Dow Jones Industrial Average.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Hawkish Fed comments today have pushed T-note yields higher and are weighing on stocks. The 10-year T-note yield up about +3 bp after Chicago Fed President Austan Goolsbee, who voted against a Fed rate cut on Wednesday, said, "Given that inflation has been above our target for 4.5 years, further progress on it has been stalled for several months, and almost all the business people and consumers we have spoken to identify prices as a main concern, I felt the more prudent course would have been to wait for more information." Also, Kansas City Fed President Jeff Schmid said he dissented against the FOMC's decision to cut interest rates on Wednesday and prefers to keep policy "modestly restrictive" because inflation remains too high and the economy continues to show momentum.
On the dovish side, Philadelphia Fed President Anna Paulson said, "On net, I am still a little more concerned about labor market weakness than about upside risks to inflation."
The markets are discounting a 24% chance that the FOMC will cut the fed funds target range by 25 bp at the next FOMC meeting on January 27-28.
Q3 corporate earnings season is virtually over as 496 of the 500 S&P companies have released results. According to Bloomberg Intelligence, 83% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021. Q3 earnings rose +14.6%, more than doubling expectations of +7.2% y/y.
Overseas stock markets are higher today. The Euro Stoxx 50 rose to a 4-week high and is up +0.40%. China’s Shanghai Composite recovered from a 2.5-week low and closed up +0.41%. Japan’s Nikkei Stock 225 rallied to a 4-week high and closed up +1.37%.
Interest Rates
March 10-year T-notes (ZNH6) today are down by -9 ticks. The 10-year T-note yield is up +3.5 bp to 4.192%. Hawkish Fed comments today are weighing on T-note prices. Chicago Fed President Austan Goolsbee said that, given higher inflation, the more prudent course would have been for the Fed to wait for more information before cutting rates. Also, Kansas City Fed President Jeff Schmid said he prefers to keep policy "modestly restrictive" because inflation remains too high and the economy continues to show momentum. T-note prices have underlying support from safe-haven demand with today’s weakness in tech stocks.
T-notes are under pressure due to steepening trades, where bond investors buy short-term government debt and sell long -term debt. The yield curve has steepened since Wednesday’s FOMC meeting, when the Fed said it will begin purchasing up to $40 billion of short-term T-bills a month, starting today, to boost liquidity in the financial system. Longer-term Treasury securities are under pressure from concern about inflation and the Fed’s independence.
European government bond yields are moving higher today. The 10-year German bund yield is up +2.3 bp to 2.866%. The 10-year UK gilt yield is up +3.1 bp to 4.515%.
UK Oct manufacturing production rose +0.5% m/m, weaker than expectations of +1.1% m/m.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on December 18.
US Stock Movers
Broadcom (AVGO) is down more than -7% to lead chip stocks lower after its sales outlook fell short of lofty expectations and the company failed to provide an AI revenue forecast for 2026. Also, Micron Technology (MU) is down more than -3%. In addition, Applied Materials (AMAT), KLA Corp (KLAC), Marvell Technology (MRVL), ASML Holding NV (ASML), and Lam Research (LRCX) are down more than -1%.
Silver mining stocks are climbing today after the price of COMEX silver soared to a new all-time high. Hecla Mining (HL) is up more than +2%, and Newmont (NEM) and Coeur Mining (CDE) are up more than +1%.
Netskope (NTSK) is down more than -6% after reporting a Q3 adjusted net loss of -10 cents per share and forecasting a full-year adjusted net loss of -51 cents to -53 cents.
Sandisk (SNDK) is down more than -3% after GF Securities downgraded the stock to hold from buy.
Roblox (RBLX) is down more than -3% after JPMorgan Chase downgraded the stock to neutral from overweight.
Ciena Corp (CIEN) is down more than -3% after Northland Securities downgraded the stock to market perform from outperform.
Veeva Systems (VEEV) is down more than -2% after KeyBanc Capital Markets downgraded the stock to sector weight from overweight.
Quanex Building Products (NX) is up more than +16% after reporting Q4 adjusted EPS of 83 cents, well above the consensus of 52 cents.
Lululemon Athletica (LULU) is up more than +13% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q3 EPS of $2.59, stronger than the consensus of $2.22, and raising its 2026 EPS forecast to $12.92-$13.02 from a previous forecast of $12.77-$12.97, above the consensus of $12.89.
Phathom Pharmaceuticals (PHAT) is up more than +8% after Raymond James initiated coverage on the stock with a strong buy recommendation and a price target of $28.
Bristol-Myers Squibb (BMY) is up more than +3% after Guggenheim Securities upgraded the stock to buy from neutral with a price target of $62.
General Electric (GE) is up more than +3% after Citigroup initiated coverage on the stock with a recommendation of buy and a price target of $386.
Tesla (TSLA) is up more than +2% after China’s State Administration for Market Regulation said auto manufacturers face “significant legal risks” if they set sale prices below production cost to exclude competitors or monopolize the market, which should benefit Tesla’s China sales by reducing predatory competition.
Earnings Reports(12/12/2025)
Johnson Outdoors Inc (JOUT), SR Bancorp Inc (SRBK), Value Line Inc (VALU).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Pressured by Broadcom Sell-Off and Higher Bond Yields

The S&P 500 Index ($SPX) (SPY) on Thursday closed up by +0.21%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up by +1.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.35%. December E-mini S&P futures (ESZ25) rose +0.23%, and December E-mini Nasdaq futures (NQZ25) fell -0.33%.
Stock indexes settled mixed on Thursday, with the S&P 500 posting a 6-week high and the Dow Jones Industrials climbing to a new all-time high. The broader market found underlying support on Thursday after bond yields moved lower amid a jump in weekly jobless claims, which is dovish for Fed policy. Also, managed healthcare stocks staged a rally on Thursday, a supportive factor for the overall market, and Visa shares surged more than +6% to boost the Dow Jones Industrial Average.
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However, the Nasdaq 100 fell to a 1-week low due to a sell-off in Oracle, which is viewed as a bellwether of the AI investment boom. Oracle tumbled more than 10% on Thursday, leading AI-infrastructure shares lower, after reporting Q2 cloud sales that missed estimates and raising its 2026 capital spending outlook by $15 billion to $50 billion. Oracle’s results reignited worries about tech valuations and whether the capital outlays on AI infrastructure will pay off.
US weekly initial unemployment claims rose by +44,000 to a 3-month high of 236,000, showing a weaker labor market than expectations of 220,000.
The US Sep trade deficit unexpectedly shrank to -$52.8 billion versus expectations of a widening to -$63.1 billion and the smallest deficit in 5.25 years.
The markets are discounting a 24% chance that the FOMC will cut the fed funds target range by 25 bp at the January 27-28 FOMC meeting.
Q3 corporate earnings season is drawing to a close as 496 of the 500 S&P companies have released results. According to Bloomberg Intelligence, 83% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021. Q3 earnings rose +14.6%, more than doubling expectations of +7.2% y/y.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 rallied to a 4-week high and closed up +0.80%. China’s Shanghai Composite closed down -0.70%. Japan’s Nikkei Stock 225 closed down -0.90%.
Interest Rates
March 10-year T-notes (ZNH6) on Thursday closed up by +7.5 ticks. The 10-year T-note yield fell -0.6 bp to 4.141%. T-notes found support on Thursday on positive carryover from Wednesday when the FOMC cut its 2025 and 2026 US core PCE price estimates, and Fed Chair Powell said that he doesn't think a rate hike is anybody's base case for the Fed's next policy move. T-notes held their gains after weekly jobless claims unexpectedly rose to a 3-month high, a dovish factor for Fed policy. Decent demand for the Treasury’s $22 billion auction of 30-year T-bonds was also positive for T-notes as the auction had a bid-to-cover ratio of 2.36, right on the 10-auction average.
European government bond yields are moving lower today. The 10-year German bund yield fell -0.7 bp to 2.843%. The 10-year UK gilt yield fell -2.2 bp to 4.484%.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on December 18.
US Stock Movers
Cruise line operators moved higher on Thursday. Royal Caribbean Cruises Ltd (RCL) closed up more than +7% to lead gainers in the S&P 500. Also, Norwegian Cruise Line Holdings (NCLH) closed up more than +6%, and Carnival (CCL) closed up more than +5%
Managed healthcare stocks rallied on Thursday. Elevance Health (ELV) closed up more than +5%, and Centene (CNC) and Molina Healthcare (MOH) closed up more than +4%. Also, Humana (HUM) and Cigna Group (CI) closed up more than +3%. In addition, HCA Healthcare (HCA) and UnitedHealth Group (UNH) closed up more than +2%.
Fertilizer stocks rose on Thursday after Ukraine said its drones attacked two fertilizer plants in western Russia. Mosaic (MOS) closed up more than +6%, and Intrepid Potash (IPI) closed up more than +5%. Also, CF Industries Holdings (CF) closed up more than +2%.
Chip makers retreated on Thursday, weighing on the Nasdaq 100. ARM Holdings Plc (ARM), Intel (INTC), and Marvell Technology (MRVL) closed down more than -3%. Also, Nvidia (NVDA), Broadcom (AVGO), Applied Materials (AMAT), GlobalFoundries (GFS), and Micron Technology (MU) closed down more than -1%.
Oracle (ORCL) closed down more than -10% to lead losers in the S&P 500 after reporting Q2 adjusted revenue of $16.06 billion, below the consensus of $16.21 billion, and raising its 2026 capital spending outlook by $15 billion to $50 billion.
Oxford Industries (OXM) closed down more than -21% after cutting its 2026 adjusted EPS forecast to $2.20-$2.40 from a previous estimate of $2.80-$3.20, well below the consensus of $2.91.
Lovesac Co (LOVE) closed down more than -8% after cutting its 2026 net sales forecast to $685 million-$705 million from a previous forecast of $710 million-$740 million, weaker than the consensus of $713.7 million.
Stellantis NV (STLA) closed down more than -3% after BNP Paribas Exane downgraded the stock to underperform from neutral.
Intuitive Surgical (ISRG) closed down more than -1% after Citigroup downgraded the stock to neutral from buy.
Gemini Space Station Inc (GEMI) closed up more than +31% after the company’s application for a derivatives exchange was approved by the Commodity Futures Exchange Commission.
Ciena Corp (CIEN) closed up more than +8% after reporting Q4 revenue of $1.35 billion, better than the consensus of $1.29 billion.
Visa (V) closed up more than +6% to lead gainers in the Dow Jones Industrials after Bank of America Global Research upgraded the stock to buy from neutral with a price target of $382.
Abercrombie & Fitch (ANF) closed up more than +2% after Goldman Sachs initiated coverage on the stock with a buy recommendation and a price target of $120.
West Pharmaceutical Services (WST) closed up more than +1% after Nephron Research LLC upgraded the stock to buy from hold with a price target of $367.
Earnings Reports(12/12/2025)
Johnson Outdoors Inc (JOUT), SR Bancorp Inc (SRBK), Value Line Inc (VALU).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.