Why GT Advanced Technologies (GTAT) Stock Is Up Today

NEW YORK (TheStreet) -- GT Advanced Technologies (GTAT) was gaining 8.9% to $15.39 Tuesday after revising its full-year guidance and despite missing analysts' estimates for the second quarter.

The company said it now expects full-year earnings of 12 cents to 18 cents a share, up from its previous guidance of 2 cents to 18 cents. Analysts surveyed by Thomson Reuters expect earnings of 3 cents a share for the year. GT Advanced expects revenue of $600 million to $700 million for the year.

For the second quarter GT Advanced reported a loss of -16 cents a share, below analysts' expectations of a loss of -14 cents a share. Revenue fell -65.5% to $58 million for the quarter, while analysts expected revenue of $63.9 million.

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