Will These Stocks Threaten the Market’s Two Day Winning Streak?

These top companies reported earnings Wednesday afternoon and are causing flurries of activity in after hours action on Wall Street:

1) Marvell Technology Group Ltd. (NASDAQ:MRVL) Marvell is global semiconductor provider of analog, mixed-signal, digital signal processing and embedded microprocessor integrated circuits. This afternoon the company released its second quarter earnings and hopped up nearly 3% in recent trading despite having narrowly missed targets set by analyst estimates.  Net income fell to $146.9 million (22 cents/share) vs. $205.8 million (30 cents/share) a year earlier. A decline of 28.6% from the year earlier quarter. Revenue also took a slide, shedding 6.2% over the last year to total 802.4 million last quarter. According to Chairman and CEO Dr. Sehat Sutardja, “The results for our first quarter reflected the typical seasonality of our consumer centric end markets, even at this low point in the revenue cycle, we were an industry leader in profitability for both operating and cash flow margins.” Keep an eye on competitors Texas Instruments Inc. (NYSE:TXN), Intel Corporation (NASDAQ:INTC),

2) Tiffany and Co. (NYSE:TIF): The luxury jeweler, specialty retailer, and source of pop-music inspiration wowed Wall Street today as shares rose some 15 percent on strong earnings. This news came as Tiffany and Co. skimped by analyst estimates recording in earnings of 56 cents/share and net revenues of $703.3 million. Net income for the jewelry store rose to $81.1 million (63 cents/share) vs. $64.4 million (50 cents/share) in the same quarter a year earlier. Revenues rose to 761 million, a 20.1% increase for the year-to-date. “We are pleased with the very strong start to the year. We achieved healthy sales growth in most regions, were able to improve gross margin despite higher product costs and achieved a significant increase in our operating margin.” said Michael J. Kowalski, chairman and chief executive officer of Tiffany’s strong quarter. Look out for competitors: Zale Corporation (NYSE:ZLC), and Blue Nile, Inc. (NASDAQ:NILE),

3) H.J. Heinz Co. (NYSE:HNZ) : Ketchup lovers take heart, the major producer of condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other food products continued its run of positive results. Heinz was able to churn out growth in net income this quarter for the third consecutive period, but fell short of Wall Street’s projections of 72 cent earnings per share. Despite failing to meet analyst expectations Heinz shares were up nearly 1% on the day. Last quarter marked the fifth consecutive quarter of gross margins expanding as the company’s gross margin expanded one percentage point to 36.3% from the year earlier quarter. Over that span, margins have grown on average 0.9 percentage point per quarter on a year-over-year basis. Heinz Chairman, President and CEO William R. Johnson said: “Heinz delivered record sales, net income and cash flow in Fiscal 2011, fueled by accelerating growth in key Emerging Markets like China, India, Indonesia and Russia and value-enhancing innovation in our core portfolio of iconic brands.”

Keep an eye on competitors Campbell Soup Company (NYSE:CPB), ConAgra Foods, Inc. (NYSE:CAG), Kraft Foods Inc. (NYSE:KFT), General Mills, Inc. (NYSE:GIS),

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