After the close of trading on Tuesday, Marvell Technology's (nasdaq: MRVL - news - people ) reported a third-quarter loss of $6.4 million, or 1 cent per share, compared to a profit of $6 million, or 1 cent per share in the similar period a year ago.
Investors took notice, pushing Marvell's stock down 7.3%, or $1.22, to $15.43, in Wednesday morning trading.
I quote this from here.
What happens to Marvell today, I am not sure, it seems Marvell is sold to another big company, Intel? But any way the cut-off the work force is started, some on-going projects are dead.