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MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, WITH GDP ON DECK

Owner of Facebook and Instagram plans to spend up to US$10B on AI infrastructure investments

Today’s Research Reports on Stocks to Watch: Applied Materials and Lam Research Corporation

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / November 30, 2017 / It was a dismal day of trading for both Applied Materials Inc. and Lam Research Corporation. No news explained the move into the red for both companies aside from a turbulent trading day yesterday with many stocks trailing down unexplainably.

RDI Initiates Coverage on:

Applied Materials, Inc.
https://rdinvesting.com/news/?ticker=AMAT

Lam Research Corporation
https://rdinvesting.com/news/?ticker=LRCX

Applied Materials, Inc. shares closed down 7.71% on Wednesday on a little over 25 million shares traded. Trading volume was more than double compared to usual. It was a big pullback for the stock yesterday despite any news to warrant the move. Shares were trading nearly $59 last week and hit an intra-day low of $51.59 yesterday. It was earlier in the month that the company reported its fourth-quarter earnings. Applied Materials reported a profit of 91 cents a share. Adjusted EPS came out to 93 cents a share. This beat the analyst consensus estimate of 91 cents a share. Revenue at $3.97 billion was also ahead of expectations of $3.93 billion. Since the year started, shares have gained 63.96%.

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Access RDI's Applied Materials, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AMAT

Lam Research Corporation shares closed down 8.68% yesterday on nearly 8 million shares. Average trading volume for the stock is just a little over 2 million shares. There was no remarkable news from the company yesterday but the losses on Wednesday may have been a correction as the stock had been rallying since releasing its earnings. It was last month that the company reported its first quarter fiscal financial results. Non-GAAP earnings for the quarter were $3.46 per share. This beat the analyst estimate of $3.27 pretty easily. Earnings for the quarter saw an 11.3% boost sequentially and were up 91.2% year over year. Revenue for the company at $2.48 billion was also ahead of the consensus estimate of $2.46 billion. It was a gain of 5.7% sequentially and a gain of 31.7% year over year. Shares have gained over 84% YTD.

Access RDI's Lam Research Corporation Research Report at:
https://rdinvesting.com/news/?ticker=LRCX

Our Actionable Research on Applied Materials, Inc. (NASDAQ: AMAT) and Lam Research Corporation (NASDAQ: LRCX) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com