• Most Popular
  • Most Shared

STOCKS NEWS EUROPE-Soitec surges on forecast upgrade

Tue Jun 23, 2009 3:38am EDT

Stocks

   

Shares in French silicon group Soitec (SOIT.PA) jump 27 percent after the company raises its sales forecast, saying it now expects first-quarter sales to grow by more than 20 percent from the fourth quarter of the previous year.

Soitec, which supplies silicon-on-insulator wafers to companies such as IBM (IBM.N), says it has received "urgent orders" from its main clients, which are "significantly" adjusting upwards their demand for the first six months of the current fiscal year.

"This certainly is the signal of a significant improvement in the sector," one trader says.

After 30 minutes of trading, the volume on Soitec shares already represents 110 percent of the stock's 90-day average daily volume.

For more double click on [ID:nLM482090]

Reuters Messaging rm://blaise.robinson.reuters.com@reuters.net


More from Reuters

No deaths in Jamaica American Airlines accident

MIAMI (Reuters) - An American Airlines Boeing 737 overshot the runway while landing in driving rain at the international airport in Kingston, Jamaica on Tuesday night, but the company said there were no fatalities or serious injuries.

» More Top News
Malaysians participate in computer attack and defence hacking competition during The 3rd Annual Hack-In-The-Box Security Conference 2004 in Kuala Lumpur on October 6, 2004. REUTERS/Bazuki Muhammad
Commentary:

Year of the breach

Data security breaches are nasty business and should be avoided at all costs, writes Kevin Prince, a chief technology officer at Perimeter e-Security. Here's a look at the biggest breaches and blunders of 2009.  Commentary 

Technology
A condominium under construction is seen in Miami, Florida October 15, 2007. REUTERS/Carlos Barria

Booming in the bust

For most Americans, the housing market collapsed about four years ago. For three real estate heavyweights, it's just getting started.  Full Article 

Housing Market