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Stock impact report

Tower Semiconductor (TSEM) Jumps to New Record High on Revenue Beat, Higher Outlook [Yahoo! Finance]

Tower Semiconductor Ltd. - Ordinary Shares (TSEM) 
Last tower semiconductor ltd. - ordinary shares earnings: 2/18 04:06 am Check Earnings Report
US:NASDAQ Investor Relations: ir.towerjazz.com
Company Research Source: Yahoo! Finance
Tower Semiconductor bounced back from two straight days of losses on Monday to hit a new 11-year high after beating its revenue guidance for the third quarter of the year and raising its growth outlook for the fourth quarter. At intra-day trading, Tower Semiconductor Ltd. (NASDAQ:TSEM) soared to its highest price of $99.82 before paring gains to end the day just up by 16.69 percent at $98.10 apiece. In an updated report, the company said it incurred $396 million in revenues in the third quarter of the year, higher by 6.8 percent than the $370.5 million in the same period last year and beating the company's earlier guidance of $395 million. Net profit, however, dipped by 2.5 percent to $53.4 million from $54.8 million year-on-year amid higher costs and expenses. For the fourth quarter, Tower Semiconductor Ltd. (NASDAQ:TSEM) expects revenues to increase by 14 percent year-on-year to $440 million, with an upward or downward range of 5 percent. “We are in the best position, our Show less Read more
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