NEW YORK, NY / ACCESSWIRE / March 22, 2018 / Applied Materials saw some gains in Wednesday trading despite a catalyst. Same went for Zynga Inc. Applied Materials has been on a rocket in the last couple of months with shares moving over 11% since it reported Q1 earnings last month.
RDI Initiates Coverage on:
Applied Materials, Inc.
Applied Materials, Inc. shares closed up 2.62% on nearly 17 million shares traded. It was early last month that the company reported its earnings and revenues for the first quarter. Since then shares have climbed over 17%. For the first quarter, the semiconductor stock beat on both the top and bottom line with pro forma earnings per share of $1.06. Analysts surveyed by Factset had been waiting for EPS of $1.03. The number even beat the own company's projection of 94 cents to $1.02 a share and it was a 59% growth YOY. Revenue at $4.2 billion was also higher than what analysts waited for but was in the company's guided range of $4 billion to $4.2 billion. The stock hit a new 52-week high recently and prior to reporting its financial report, was up over 19% in just four weeks. For the full fiscal year, Applied Materials has projected EPS to grow 35% and sales to grow 19.6% to $17.39 billion.
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Zynga Inc. shares closed up nearly 3% yesterday on almost 17.6 million shares traded. There was no remarkable news from the company on Wednesday as shares looked to be moving on volatility. It was earlier in the month though that it was announced that the company teamed up with the International Game Developers Association (IGDA) to champion female game developers. The company was the platform sponsor of the IGDA Foundation's Women in Games Ambassador and IGDA Scholar programs at the 2018 Game Developers Conference. The initiative was led by Women at Zynga. "Our goal at the IGDA Foundation is to inspire potential and current developers from all walks of life and around the globe to embark on successful and fulfilling careers within the gaming industry," said Jen MacLean, who is the executive director of both the IGDA and the IGDA Foundation. "We're honored to partner with Women at Zynga, as their mission to empower and support women across the gaming industry aligns with our core values of mentorship, access and advancement for everyone. Through our deep partnership with Women at Zynga during this year's GDC, we're excited to pair our program participants with a fantastic cross-section of leaders at one of the industry's leading social game developers."
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