Marvell Trims Guidance

Marvell Technology announced preliminary financial results for the first quarter of its fiscal 2016, saying it now expects revenue to be below the company's previous outlook. Marvell now expects first quarter of fiscal 2016 revenue to be in the range of $710 million to $740 million, compared to the previous expectation of $810 million to $830 million.

The cited weaker than previously expected PC and storage markets and lower than expected emerging market demand.

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