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Wolfspeed Shares Jump 21% After Earnings Beat

Wolfspeed Shares Jump 21% After Earnings Beat

Wolfspeed, a U.S.-based semiconductor company, rose nearly 30% in early trading after reporting a narrowing loss and higher revenues in the last quarter. The company said it expects revenues between $232.5 million to $247.5 million in the current quarter, more than Wall Street analysts had forecast. It also said its loss is likely to shrink even further.