Applied Materials Up 5.5% After Earnings
May 17 2019 - 10:37AM
Dow Jones News
By Michael Dabaie
Applied Materials Inc. (AMAT) shares were up 5.5%, to $43.94, in
early trading Friday.
The materials engineering company Thursday reported
second-quarter revenue of $3.54 billion, beating FactSet consensus
for $3.49 billion. Earnings per share came to 70 cents, above
FactSet consensus of 66 cents. Applied Materials said results were
toward the top-end of its guidance range.
The company guided for third-quarter sales of about $3.525
billion, plus or minus $150 million and adjusted EPS of 67 cents to
75 cents.
UBS raised its price target on Applied Materials to $49 a share
from $45, and maintained it at Neutral. Wells Fargo raised its
price target to $52 a share from $45 and maintained it at
Outperform, while Citigroup raised its price target to $52 from $51
and maintained at Buy.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
May 17, 2019 10:22 ET (14:22 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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