On November 9, STMicroelectronics NV rose 5.13% in Regular Trading, trading at $43.83/share, with turnover of $44.98 million.
The move comes as the market continues to digest the company’s stronger-than-expected third-quarter revenue and above-consensus fourth-quarter guidance, while its recovery narrative and AI data center-related demand outlook remain in focus.
Previously, the company reported third-quarter revenue of $3.76 billion, above the $3.66 billion expected by analysts, while non-GAAP earnings per diluted share were $0.37 versus a $0.38 consensus. For the fourth quarter, STMicroelectronics NV guided revenue to $4.15 billion, ahead of the $4.03 billion market expectation. Management also indicated that AI data centers and low-earth-orbit satellite communications are supporting longer-term growth drivers, even as some brokers recently cut target prices, creating volatility after the earnings release.
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