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Intel, Marvell, and Nu Holdings Surge Amid Strategic Moves and Strong Earnings
Generated by AI AgentAinvest Market Brief
Monday, Sep 2, 2024 6:30 pm ET1min read
1. Intel (Nasdaq: INTC)
Intel surged by 9.49%. Intel plans to split or sell its chip foundry business as part of CEO Pat Gelsinger's strategy to streamline operations and cut costs to revitalize the company. Additionally, Intel is driving enterprise AI adoption through an open software ecosystem to enhance business upgrades.
2. Marvell Technology (Nasdaq: MRVL)
Marvell Technology surged by 9.16%. Marvell Technology reported fiscal 2025 Q2 revenue of $2.434 billion and a net loss of $409 million. Various firms, including Cantor Fitzgerald, B of A Securities, Needham, Morgan Stanley, and Evercore ISI Group, reiterated positive ratings with target prices ranging from $82 to $98.
3. Nu Holdings Ltd. (NYSE: NU)
Nu Holdings Ltd. gained solidly by 5.2%. Nu Holdings reported fiscal 2024 Q2 results with $55.85 billion revenue, up 60.1% YoY. JP Morgan maintains a neutral rating and a $15.00 target. Barclays maintains an overweight rating with a $17.00 target. Susquehanna maintains a positive rating with a $16.00 target. CEO David Velez sold 31 million shares, cashing out $404 million.
4. Ge Vernova (NYSE: GEV)
Ge Vernova gained solidly by 5.04%. William Blair and HSBC initiate coverage on GE Vernova with Outperform and Buy ratings, respectively. Morgan Stanley and Goldman Sachs maintain their Overweight and Buy ratings. GE Vernova reported $154.63 billion in revenue for H1 2024.
5. Dell Technologies (NYSE: DELL)
Dell Technologies gained solidly by 4.33%. Dell Technologies reported Q2 FY2025 revenue of $25 billion, up 9%. Net income was $1 billion. Citigroup and B of A Securities maintain Buy ratings, with targets of $160 and $155 respectively. Barclays maintains a Hold rating with a $106 target. Dell focuses on unlocking edge data value.
Intel surged by 9.49%. Intel plans to split or sell its chip foundry business as part of CEO Pat Gelsinger's strategy to streamline operations and cut costs to revitalize the company. Additionally, Intel is driving enterprise AI adoption through an open software ecosystem to enhance business upgrades.
2. Marvell Technology (Nasdaq: MRVL)
Marvell Technology surged by 9.16%. Marvell Technology reported fiscal 2025 Q2 revenue of $2.434 billion and a net loss of $409 million. Various firms, including Cantor Fitzgerald, B of A Securities, Needham, Morgan Stanley, and Evercore ISI Group, reiterated positive ratings with target prices ranging from $82 to $98.
3. Nu Holdings Ltd. (NYSE: NU)
Nu Holdings Ltd. gained solidly by 5.2%. Nu Holdings reported fiscal 2024 Q2 results with $55.85 billion revenue, up 60.1% YoY. JP Morgan maintains a neutral rating and a $15.00 target. Barclays maintains an overweight rating with a $17.00 target. Susquehanna maintains a positive rating with a $16.00 target. CEO David Velez sold 31 million shares, cashing out $404 million.
4. Ge Vernova (NYSE: GEV)
Ge Vernova gained solidly by 5.04%. William Blair and HSBC initiate coverage on GE Vernova with Outperform and Buy ratings, respectively. Morgan Stanley and Goldman Sachs maintain their Overweight and Buy ratings. GE Vernova reported $154.63 billion in revenue for H1 2024.
5. Dell Technologies (NYSE: DELL)
Dell Technologies gained solidly by 4.33%. Dell Technologies reported Q2 FY2025 revenue of $25 billion, up 9%. Net income was $1 billion. Citigroup and B of A Securities maintain Buy ratings, with targets of $160 and $155 respectively. Barclays maintains a Hold rating with a $106 target. Dell focuses on unlocking edge data value.
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