MEMC Electronic Materials (WFR) reported mixed results last night with a non GAAP EPS loss a bit wider than expected at .09 vs the analyst estimate for a .06/share loss, but on better than expected revenues of $772 million (down 19% over the year ago quarter). Shares were likely trading up pre-market because the non-GAAP loss wasn’t quite as severe as the company has expected about a month ago.
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Barclays Upgrades A123 Systems (AONE) & MEMC Electronic Materials (WFR)
Barclays is upgrading two green stocks this morning – both A123 Systems (AONE) and MEMC Electronic Materials (WFR) get upgrades to Overweight from Equal Weight and price targets raised from $12 to $14 and $14 to $16 respectively.
Shares of AONE are trading up about 3% in pre-market trading after successfully clearing important resistance of the 50 day moving average on Friday. Shares of WFR are also trading up about 3% and continue to look … Read the rest
MEMC Electronic Materials (WFR) Reports Strong Revenues, But Surprising Loss; Reaffirms Guidance; Shares Down 7%
MEMC Electronic Materials (WFR) is surprising traders after the bell today, but not in the way many expected. With the technical action improving in WFR in recent weeks, they were expected to post a quarterly profit and begin the road to lasting profits. That path remains on hold for now. While the company reported revenues much higher than what analysts expected at $438 million (more than double the year ago quarter), they missed badly on … Read the rest