Updated from 3:28 p.m. EDTSemiconductor stocks helped lead the tech sector higher Thursday, boosted by an earnings beat from Fairchild Semiconductor International ( FCS and an analyst upgrade for Micron Technology ( MU - Get Report). Fairchild Semiconductor shares rose 10.7% to $5.26 Thursday after the chipmaker reported first-quarter earnings that beat Wall Street estimates. Fairchild swung to a loss of $51.1 million, or 41 cents per share, compared with a profit of $17.1 million, or 14 cents per share, for the same quarter in 2008. Excluding items, the adjusted loss was $40.1 million, or 32 cents per share, compared with an adjusted profit of $23.2 million, or 19 cents per share, in the first quarter of 2008. Analysts polled by Thomson Reuters had expected a loss of 34 cents per share on $235.1 million in revenue. Fairchild said order rates improved during the first two weeks of the second quarter, allowing the company to increase its backlog. Meanwhile, an analyst at Barclays updated Micron Technology from Equal Weight to Overweight, citing benefit from lower industry CapEx spending and a more constructive supply-side outlook. Shares of the company rose 10.7% to $4.98. Elsewhere in the sector: Texas Instruments ( TXN - Get Report) rose 4.6% to $17.80. Intel ( INTC rose 1.7% to $15.89. Advanced Micro Devices ( AMD - Get Report) rose 3.8% to $3.57. Qualcomm ( QCOM - Get Report) rose 1.8% to $41.64. Nvidia ( NVDA - Get Report) rose 2.6% to $11.68.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Technology
Facebook Reports Earnings on Wednesday: 7 Important Things to Watch
Revenue guidance, North American and European user growth and commentary about Facebook's stories services are among the things to keep an eye on as the social media giant reports.
FAANG Stocks Back With a Vengeance -- Can The Growth Last?
Investors describe a return to the mentality that pervaded much of 2018, when the large-cap tech stocks ruled the day.
Snap's Android App Comes Into Focus on First-Quarter Earnings Call
Snap shares were volatile as analysts probed company executives on its much-anticipated Android revamp.