Wall Street runs on two languages. One is formal: financial statements, analyst reports, SEC filings. The other is the fast shorthand traders use when they talk about what is actually happening in the market. A headline might say a company “delivered a strong print but the stock faded as investors digested cautious guidance.” That sounds complicated. It means the reported numbers were good, the stock went up at first, and then investors focused on weaker forward expectations and the price came back down.

Cadence put up quarterly revenue of $1.58 billion, up 24.2 percent year over year, and raised its annual guidance to a range of $6.26 to $6.34 billion against a consensus near $6.21 billion. The stock added more than four percent after hours. The number that matters is not the 24.2 percent. It is the guide raise, and specifically its timing: it landed on the same session in which ASML fell more than seven percent, Applied Materials more than six, and Lam Research more than seven on a report that a Chinese state-backed manufacturer has begun building deep ultraviolet lithography machines.

The case for owning Marvell almost always opens with custom AI chips, and that is the part of the story where Marvell is structurally second. The company and Broadcom are the two names that turn hyperscaler in-house silicon designs into manufacturable chips, the application-specific processors that Amazon, Microsoft, Google and Meta increasingly favor over off-the-shelf GPUs for inference. But Marvell holds roughly 15 percent of that market against Broadcom’s 55 to 60 percent, and Counterpoint expects Broadcom to command about 60 percent of custom AI silicon by 2027.

Segment reporting is the requirement that public companies disclose financial information separately for each significant operating segment of their business. It exists because consolidated financial statements, while accurate in the aggregate, can obscure the performance dynamics of individual business units that investors and analysts need to assess value. What It Is A diversified company might operate a fast-growing software division, a mature hardware business, and a declining services unit. The consolidated income statement shows total revenue and operating income — the blended result.

A working reference for the vocabulary of financial markets — organized by domain, not alphabetically. Definitions are written for investors, analysts, financial journalists, and informed participants who need precision without the padding of a textbook. Market Structure Equity Ownership interest in a company, represented by shares of stock. Equity holders are residual claimants — they receive what remains after all creditors and obligations are satisfied. Common equity carries voting rights; preferred equity has priority in distributions but typically limited voting power.