Marvell Technology Group (MRVL) announced after the bell Thursday that it is planning a significant restructuring of its mobile platform business, which is expected to result in an approximately 17% reduction in global headcount. The stock is now up 0.77 on 2.2 million shares.
Marvell Technology Group climbed around mid-afternoon Thursday and finished with a gain of 0.31 at $9.03. The stock closed challenging the upper end of a 2-week trading range at the lows of the year.
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