Why Ultra Clean Holdings Stock Jumped 14% This Morning
Shares of Ultra Clean Holdings (NASDAQ: UCTT) are cleaning up on Wall Street today. The provider of semiconductor manufacturing equipment reported strong third-quarter results on Wednesday night, sending the stock as much as 14% higher Thursday morning. By 11:50 a.m. EDT, shares had retreated slightly to a gain of 12.8%.
Ultra Clean's sales rose 8.6% year over year, landing at $254 million. Adjusted earnings fell 30% to $0.21 per share. Though one metric moved up and the other one down, they both exceeded Wall Street's consensus expectations of earnings near $0.16 per share on sales in the neighborhood of $245 million.
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Source Fool.com
