Applied Materials Profit Surges, But Expectations Disappoint Thursday, August 25, 12:40 PM ET
Semiconductor maker Applied Materials (NASDAQ:
AMAT) posted a surge in third quarter earnings late yesterday, but disappointed expectations with its forecast.
Profits rose to $476 million, or $0.36 per share, compared to $123 million, or $0.09 per share, in last yearís third quarter.
Adjusted earnings of $0.35 per share beat analyst expectations.
Revenue rose to $2.79 million from $2.52 million last year, also ahead of estimates.
But, Applied Materials said it expects fourth quarter sales to fall 15% to 30% on a sequential basis, with earnings of $0.16 to $0.24 per share. The outlook misses analyst forecasts.
The company is seeing softness in its business resulting from an uncertain economic environment and an overcapacity in the solar sector, CEO Mike Splinter said.
Applied Materials shares are trading down over 2.7% Thursday.
Is the gloom carrying over to other chips stocks?
The Semiconductor HOLDRS (AMEX:
SMH) is trading up slightly Thursday.
Applied Materials is the third-largest holding in the fund, behind Intel (NASDAQ:
INTC), trading up over .1% Thursday, and Texas Instruments (NASDAQ: TXN), trading down slightly.
Rounding out the top holdings of the fund, Altera (
ALTR) is trading down about .7%, while Analog Devices (NASDAQ: ADI) trades up over .7%.
The iShares PHLX SOX Semiconductor Sector Index Fund (NASDAQ:
SOXX) is trading down slightly.
For MarketNewsVideo.com, Iím Kristin Bianco.
Nasdaq 100 Movers: REGN, MNST
Related symbols: REGN, MNST, SHPG, WDC
S&P 500 Movers: BBBY, EQT
Related symbols: BBBY, EQT, SYY, RRC
Dow Movers: NKE, PG
Related symbols: NKE, PG, UNH, KO
Friday Sector Laggards: Grocery & Drug Stores, Banking & Savings
Related symbols: SYY, USFD, CADE, NBN
Friday Sector Leaders: Shipping, Semiconductors
Related symbols: NM, GNK, QUIK, AEHR
Thursday Sector Laggards: Entertainment, Banking & Savings
Related symbols: CNK, EROS
Friday's ETF with Unusual Volume: IXC
Related symbols: IXC, CHK, RIG, EQT, MRO
Friday's ETF Movers: XME, IAT
Related symbols: CENX, AKS, CFG, FITB, IAT, XME
HYG, RALS: Big ETF Outflows
Related symbols: HYG, RALS, XOM, AAPL
Daily Dividend Report: MDT, ABBV, DTE, XRAY, UDR, SNX, BBBY, CHS
Related symbols: MDT, ABBV, DTE, XRAY, UDR, SNX, BBBY, CHS
Daily Dividend Report: ORCL, LMT, KR, NRZ, SRE, MAS, PNW, AIT
Related symbols: ORCL, LMT, KR, NRZ, SRE, MAS, PNW, AIT
Daily Dividend Report: IEX, TOL, APLE, CMC, KFY, WDR
Related symbols: IEX, TOL, APLE, CMC, KFY, WDR
Weekly Market Wrap: August 14, 2015
Related symbols: BAC, AMAT, AAPL, S, SYY
Weekly Market Wrap: August 7, 2015
Related symbols: SUNE, BAC, CHK, GRPN, AAPL
Weekly Market Wrap: July 31, 2015
Related symbols: BAC, MU, AAPL, SUNE, FB
Week Ahead Market Report: June 8, 2015
Related symbols: BAC, FTR, AAPL, INTC, MNKD
Week Ahead Market Report: May 18, 2015
Related symbols: BAC, AAPL, VALE, T
Week Ahead Market Report: May 4, 2015
Related symbols: BAC, AAPL, MSFT, ICLD, NOK
All videos » |
Stock market definitions »
Applied Materials Profit Surges, But Expectations Disappoint
| Market News Video | Copyright © 2008 - 2017, All Rights Reserved
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.