Stock Market Today, Nov. 3: Marvell Shares Edge Higher After Premarket Drop on $115 Billion Lumentum Deal

Marvell Technology shares recovered on Nov. 3, 2026, closing up 0.33% after an initial premarket sell-off following the announcement of its $115 billion all-stock acquisition of Lumentum. Despite analyst downgrades and share dilution concerns, Wall Street reassessed the deal positively, recognizing Lumentum's strong growth potential (137% YoY sales increase) and its strategic value in expanding Marvell's data infrastructure offerings.