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U.S. stock futures are pointing sharply lower as tariff announcements continue to roil markets; Marvell Technology (MRVL) shares are tumbling in premarket trading after the chipmaker's outlook failed to impress; analysts are expecting rising sales and profits from Costco Wholesale's (COST) quarterly report after the bell; Broadcom (AVGO) shares are falling ahead of its earnings report, which comes amid turmoil in the tech sector; and MongoDB (MDB) stock is sinking after the database software maker issued a soft full-year outlook. Here's what investors need to know today.
1. US Stock Futures Point Sharply Lower Amid Market Swings Over Tariffs
U.S. stock futures are pointing sharply lower as market volatility continues around the implementation of tariffs. Nasdaq futures are 1.4% lower, giving back most of the index's gains from the prior session that followed reports that tariffs on automobiles would be delayed. Dow Jones Industrial Average and S&P 500 futures are down around 1%. Bitcoin (BTCUSD) is slightly higher to trade at over $91,000. Yields on the 10-year Treasury note and oil futures are rising. Gold futures are lower.
2. Marvell Stock Plunges on Lackluster Outlook
Marvell Technology (MRVL) shares are plunging about 18% in premarket trading after the semiconductor company's outlook failed to impress investors. The semiconductor company reported fourth-quarter adjusted earnings per share (EPS) of $0.60 on revenue that jumped 27% year-over-year to $1.82 billion, both above Visible Alpha consensus. Marvell's current-quarter projections were mostly in line with estimates, but expectations for its outlook were high heading into the results, with Bank of America analysts calling for AI-driven upside and a "largely better" forecast.
3. Analysts Looking for Rising Revenue, Profits From Costco
Costco Wholesale (COST) is expected to report rising revenue and profit when it posts second-quarter results after the bell today. Costco is projected to report EPS of $4.13 on revenue of $63 billion, according to Visible Alpha, up from $3.92 and $58.44 billion a year ago. The quarter will mark the second since Costco's first membership fee bump in seven years went into effect in September. Costco shares are down less than 1% in premarket trading.
4. Broadcom Stock Dips Before Earnings Amid Tech Selloff
Broadcom (AVGO) is preparing to report its quarterly results after markets close today amid optimism over the chipmaker's stock despite recent losses. Analysts expect the company to report increasing earnings and sales, with revenue projected to grow 22% year-over-year, according to Visible Alpha. The report comes as chip and AI stocks sold off earlier this week amid worries over tariff impacts on the tech sector. Broadcom shares, which are more than 4% lower in premarket trading, have lost roughly a quarter of their value since hitting an all-time high in December.