Marvell shares fall 7.6% after second-quarter results as U.S. futures slip

U.S. stock futures were mostly lower on Friday morning, with Nasdaq 100 futures down around 0.3%. Marvell Technology Inc shares fell 7.6% to $223 in pre-market trading despite second-quarter revenue of $2.74 billion and adjusted earnings of 94 cents per share, both above estimates of $2.71 billion and 92 cents, respectively, according to Benzinga Pro. Other notable decliners included Vistance Networks, PayPal, Metals Royalty, Design Therapeutics, SharonAI Holdings, Rubrik, NACCO Industries, IREN, Clinuvel Pharmaceuticals and MINISO Group Holding. PayPal fell after reports that a consortium led by Stripe and Advent International abandoned its $53 billion takeover pursuit, while Vistance Networks had recently authorized an additional $150 million buyback plan.

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