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Stock Market & Financial Investment News

News Breaks
June 27, 2014
09:06 EDTKLICKulicke & Soffa names Joyce Soo Li Lam as Principal Accounting Officer
Kulicke and Soffa Industries announced Joyce Soo Li Lam will take on an expanded role as the company’s Principal Accounting Officer, effective July 1. Lam joined K&S on January 2, 2011 as Vice President and Corporate Controller and she will continue to hold her existing positions within the company’s finance organization. Jonathan Chou will be resigning as Principal Accounting Officer effective June 30, but will continue to serve as the company’s CFO and Senior Vice President. Lam will continue to report to Chou.
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August 15, 2014
11:42 EDTKLICApplied Materials rises following strong profit, gross margin, order growth
Shares of semiconductor equipment maker Applied Materials (AMAT) are advancing after posting strong third quarter profit, adjusted gross margin, and order growth. WHAT'S NEW: Last night, Applied Materials reported Q3 adjusted earnings per share of 28c and revenue of $2.27B, compared to analysts’ consensus estimates of 27c and $2.29B, respectively. Q3 adjusted gross margin came in at 45.5%, up 260 basis points year-over-year, and up 130 basis points sequentially. Q3 orders of $2.48B, increased 24% year-over-year led by SSG year-over-year order growth of $362M. President and CEO Gary Dickerson said, “We have focused our strategy and investments in areas that have the largest impact for customers while driving improvements in execution and speed across the company. With these actions, we have improved our operating margins for seven quarters in a row and are making substantial progress towards our long-term financial model." WHAT’S NOTABLE: For the fourth quarter, Applied Materials expects adjusted EPS of 25c-29c, versus consensus of 26c. Q4 revenue is expected to be approximately flat, plus or minus 3% sequentially, and up by approximately 10%-17% from the year-ago period, compared to consensus of $2.28B. PRICE ACTION: In late morning trading, Applied Materials rose $1.04, or about 5%, to $22.19 on heavy trading volume. Including today’s advance, the stock has gained approximately 45% over the past twelve months. OTHERS TO WATCH: Other companies in the semiconductor equipment space include Lam Research (LRCX), Kulicke and Soffa (KLIC), and KLA-Tencor (KLAC).

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