[BRIEFING.COM] The S&P 500 is off session lows (-1.8%) but is still floundering with a 1.1% decline.
In other earnings news, semiconductor company Marvell (MRVL 63.72, -4.142, -2.2%) is struggling despite beating top and bottom-line estimates and a range for Q1 revenue guidance that was mostly above consensus.
MRVL was downgraded to Hold from Buy at Summit Insights and had its price target lowered to $105 from $115 at Needham.