Intel's (INTC) Bet on ASML (ASML) Sends Semiconductor ETF (SMH) Higher
Tweet Send to a Friend
Despite some negative news in the sector, there's plenty of positive pushing the Market Vectors Semiconductor ETF (NYSE: SMH) higher today.
Earlier, Applied Materials (Nasdaq: AMAT) trimmed its outlook for sales and earnings in fiscal 2012, now seeing both coming in below expectations. Despite the dour 2012 outlook, third-quarter numbers are still expected to come within expectations.
Making a run higher is ASML Holding NV (Nasdaq: ASML), which is up 7.7 percent Tuesday. After the market closed Monday, Intel (Nasdaq: INTC) announced plans to invest about $4.1 billion in ASML, which is intended to "accelerate the development of 450-millimeter (mm) wafer technology and extreme ultra-violet (EUV) lithography."
In early trading, the chip ETF is 0.6 percent better.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Earlier, Applied Materials (Nasdaq: AMAT) trimmed its outlook for sales and earnings in fiscal 2012, now seeing both coming in below expectations. Despite the dour 2012 outlook, third-quarter numbers are still expected to come within expectations.
Making a run higher is ASML Holding NV (Nasdaq: ASML), which is up 7.7 percent Tuesday. After the market closed Monday, Intel (Nasdaq: INTC) announced plans to invest about $4.1 billion in ASML, which is intended to "accelerate the development of 450-millimeter (mm) wafer technology and extreme ultra-violet (EUV) lithography."
In early trading, the chip ETF is 0.6 percent better.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Citi Raises PT on Micron Technology (MU) to $19
- Coal Stocks Roiled After Walter Pulls Out of Loan Refi (WLT) (ACI) (ANR) (BTU) (JRCC)
- PVH Corp. (PVH) Tops Q1 EPS by 56c; Issues Q2 EPS, Revs Outlook
Create E-mail Alert Related Categories
ETFsRelated Entities
Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
