Sales of the company advanced by 13 percent in third quarter to $356.8 million from $315.8 million last year. Shares of the firm at 11:52am ET were trading higher by 53 cents or 3.07 percent at $17.64 after hitting a high at $18.26 so far in the day.
Broadcom Corp (NASDAQ GS: BRCM):
The company had recently filed a new complaint against Qualcomm Incorporated (NASDAQ: QCOM) over wireless technology, which is one of the series of patent litigations. On Wednesday, RBC Capital Markets downgraded its per share price target to $22 from $36. Barclays Capital downgraded its price per share target to $22 from $25, citing weak outlook for the current year and 2009. Shares of the firm were declining by 20 cents or $1.32 percent to $14.90 at 12:10pm ET on Wednesday. The stock hit a high at $15.78 so far in the day.
Marvell Technology Group Ltd (NASDAQ GS: MRVL):
The chip maker has shown its interest in expanding its business in emerging markets like India for its marketing, sales and to provide services like tech support. In 2006, the company had acquired Intel’s communications and application processor business. At 12:16am ET, shares of the firm was trading lower by 22 cents or 2.86 percent to $7.46. The stock hit a high so far in the day at $7.93.
Interactive Data Corp (NYSE: IDC):
Financial data provider Interactive Data Corp has increased its forecast for 2008, boosted by its recent takeover of Italy-based Kler's Financial Data Service S.r.l. The firm said Wednesday in its preliminary results for the third quarter that its revenue increased by 7.7 percent to $188.6 million, from $175 million it reported for the same period a year ago. But its third quarter profit may decline by 6.6 percent to $36.7 million from $39.3 million for the same period a year earlier. Shares of the Bedford, Mass.-based firm were trading higher by 39 cents or 1.90 percent to $20.91 at 12:17pm ET on Wednesday.
