Why Shares of STMicroelectronics Popped Nearly 18% in July

Shares of STMicroelectronics (NYSE: STM) climbed 17.7% in July, according to data from S&P Global Market Intelligence, as investors grew more optimistic that the company would deliver strong second-quarter results -- which it did.

STMicroelectronics rebounded in July after seeing its stock price fall nearly 13% in June on analysts' worries that tech stocks may be overdue for a correction. But the company's investors took a more optimistic outlook last month as they pushed STMicroelectronics up about 12% in the weeks ahead of its second quarter results, and another 5% after earnings were reported.

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Source: Fool.com