Tuesday, May 12, 2009

Applied Materials swings to a loss on sales drop (AMAT)

The stock was down 2% today and is down a further 3% after hours.
From MarketWatch:

Weakness seen in both semiconductor equipment and solar business

Applied Materials Inc. said Tuesday that it swung to a loss in its second fiscal quarter as sales of its semiconductor manufacturing equipment fell sharply on slumping demand.

Despite the slump, sales for the recent quarter came in higher than Wall Street's estimates. But the company also saw a sharp drop in new orders for its solar segment....MORE