MRVL. [Briefing.com] October 14, 2002 3:58:00 PM ET
Marvell (MRVL) 11.52 -2.24: Stock drops off over 16% following Friday's announcement MRVL had renegotiated its relationship with INTC allowing both parties to sell their own GigE NIC/LOM solutions without INTC having to give MRVL 12-months notice. Several analysts remain upbeat on co's near-term prospects: Goldman Sachs believes the INTC relationship "is far from over" and expects no revenue impact from the amendment until H203 at the earliest. Firm maintains their estimates where they are given the likelihood of further upside in the near-term. CIBC similarly believes the perceived impact on financials and decline in stock price may be overblown and maintains their Mkt Outperform rating.
"Andrx also said it has $65 million in Prilosec inventories and purchase commitments on its books as of Sept. 30. The company plans to establish an allowance for these inventories and record a loss against them in the third quarter. "
That a buck a roo of your $8 book. Watch out. Any legal fight will take longer the the validated patents 2006 expriation date. On the other side, look for them to make marketing deal with Schwarz to get it to market in US quickly.
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