MRVL - These 2 Stocks Weighed the Nasdaq Down Friday
Investors looked ready to start the weekend early on Friday, as the Nasdaq Composite (NASDAQINDEX: ^IXIC) moved lower by more than 1% as of 11 a.m. ET. The Nasdaq and other indexes fell after the Bureau of Labor Statistics reported strong jobs growth for the month of November, raising fears that the Fed wouldn't loosen its monetary policy stance as quickly as some had begun hoping.
Some Nasdaq stocks posted even sharper losses. Marvell Technology (NASDAQ: MRVL) was down significantly after the semiconductor company reported its latest financial results, while the declines for restaurant favorite Cracker Barrel Old Country Store (NASDAQ: CBRL) were even steeper. Read on to learn more about both stocks and why investors are looking at them closely on Friday.
Shares of Marvell Technology fell 6% in late morning trading on Friday. The semiconductor company's third-quarter financial report for the period ending Oct. 29 left investors worried that the industry's slowdown could be worse than previously expected.
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These 2 Stocks Weighed the Nasdaq Down Friday