NEW YORK, NY / ACCESSWIRE / November 30, 2017 / It was a dismal day of trading for both Applied Materials Inc. and Lam Research Corporation. No news explained the move into the red for both companies aside from a turbulent trading day yesterday with many stocks trailing down unexplainably.
RDI Initiates Coverage on:
Applied Materials, Inc.
Lam Research Corporation
Applied Materials, Inc. shares closed down 7.71% on Wednesday on a little over 25 million shares traded. Trading volume was more than double compared to usual. It was a big pullback for the stock yesterday despite any news to warrant the move. Shares were trading nearly $59 last week and hit an intra-day low of $51.59 yesterday. It was earlier in the month that the company reported its fourth-quarter earnings. Applied Materials reported a profit of 91 cents a share. Adjusted EPS came out to 93 cents a share. This beat the analyst consensus estimate of 91 cents a share. Revenue at $3.97 billion was also ahead of expectations of $3.93 billion. Since the year started, shares have gained 63.96%.
Access RDI's Applied Materials, Inc. Research Report at:
Lam Research Corporation shares closed down 8.68% yesterday on nearly 8 million shares. Average trading volume for the stock is just a little over 2 million shares. There was no remarkable news from the company yesterday but the losses on Wednesday may have been a correction as the stock had been rallying since releasing its earnings. It was last month that the company reported its first quarter fiscal financial results. Non-GAAP earnings for the quarter were $3.46 per share. This beat the analyst estimate of $3.27 pretty easily. Earnings for the quarter saw an 11.3% boost sequentially and were up 91.2% year over year. Revenue for the company at $2.48 billion was also ahead of the consensus estimate of $2.46 billion. It was a gain of 5.7% sequentially and a gain of 31.7% year over year. Shares have gained over 84% YTD.
Access RDI's Lam Research Corporation Research Report at:
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.