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Technology Stocks : Semi Equipment Analysis

SOXX 314.52

-0.6%

Dec 11 4:00 PM EST

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From: Donald Wennerstrom	7/29/2010 4:41:46 PM
	1 Recommendation Read Replies (1) of 95572

Jul 29, 2010 4:26 PM MEMC Q2 Light; Says 2010 Revs To Beat Old View, EPS To Miss Posted by Eric Savitz MEMC Electronic Materials (WFR) this afternoon posted disappointing Q2 results. The company which sells silicon wafers used by the chip and solar industries, and operates solar projects via its SunEdison unit, posted Q2 revenue of $448.3 million, with profits of 6 cents a share, or 2 cents adjusted for one-time items. The Street had been projecting $466.2 million and 9 cents. For the full year, the company said it now expects to exceed its old revenue guidance of $1.75 billion to $1.85 billion, but it also said it expects profits to be below its previous guidance of 70-80 cents a share. The Street seems to have partially figured that out already; the consensus was for $2.04 billion and 66 cents. Nonetheless, WFR in late trading is down 76 cents, or 6.8%, to $10.50.

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