Friday's Tech Winners & Losers
Shares of MEMC Electronics Materials (WFR) were among technology's winners Friday, jumping 16.5% after the maker of silicon wafers posted better-than-expected fourth-quarter results and issued a bullish outlook for its first quarter and full year.
The company earned $129 million, or 56 cents a share, on revenue of $420.5 million. Adjusted earnings came in at $157.8 million, or 68 cents a share. Analysts polled by Thomson First Call expected earnings of 59 cents a share on revenue of $416.1 million. During the year-earlier period, the company earned $50.2 million, or 22 cents a share, on revenue of $303.4 million.
Looking ahead, MEMC sees first-quarter revenue of roughly $440 million. It sees full-year adjusted earnings topping $3 a share on revenue of more than $1.9 billion. Analysts project first-quarter revenue of $424.7 million and full-year earnings of $2.55 a share on revenue of $1.84 billion. Shares were trading up $7.18 to $50.80.
International Rectifier (IRF) climbed 13% after the chipmaker posted second-quarter results that beat expectations and issued better-than-expected third-quarter revenue guidance. The company posted adjusted earnings of $42.5 million, or 58 cents a share, on revenue of $354.7 million. Analysts expected earnings of 54 cents a share on revenue of $350.8 million. During the year-earlier quarter, the company posted adjusted earnings of $26.5 million, or 37 cents a share, on revenue of $278.8 million.Looking ahead, International Rectifier sees flat sequential third-quarter revenue, plus or minus 2%. Analysts project revenue of $341.7 million. Shares were trading up $4.92 to $42.55.
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