| NEW YORK, April 14
NEW YORK, April 14 Intel Corp wasn't the only
semiconductor company to post strong results on Wednesday, with
its pint-sized brethren also reporting vigorous earnings that
lift mid- and smallcap stocks.
Chip-assembly equipment maker Kulicke & Soffa Industries
Inc (KLIC.O) shares shot up 19.7 percent to $9.41 after it beat
revenue estimates and forecast third-quarter revenue above
expectations. For details see [ID:nSGE63C0K6]
Linear Technology Corp's (LLTC.O) third-quarter results
beat market estimates and the chipmaker said it expects strong
sales growth in the fourth quarter, helping the shares rise 5.3
percent to $31.23.
"Folks are stepping up and buying some of these smaller
stocks that have good earnings," said Gary Bradshaw, portfolio
manager at Hodges Capital Management in Dallas.
"We're seeing good earnings in the big stocks, and that's
translating into people feeling much more comfortable about
Networking and communications equipment provider Adtran Inc
(ADTN.O) rose 7.5 percent to $29.36 after it forecast a rise in
second-quarter revenue a day after posting better-than-expected
Shares of Hot Topic Inc HOTT.O rose 13 percent to $9.58
as the teen apparel retailer said sales at its core businesses
are picking up and it expected strong performance at its Torrid
division. For details see [ID:nSGE63D0D8].
Retailers also got a boost from data that showed U.S.
retail sales rose 1.6 percent in March, beating expectations
for a 1.2 percent increase. Consumer prices rose 0.1 percent,
matching expectations, according to a separate report.
Women's apparel retailer AnnTaylor Stores Corp ANN.N
jumped 8.3 percent to $22.94 and the S&P midcap specialty
retail industry index .4GSPSPR gained 3.2 percent.
The S&P MidCap 400 index .MID rose 1.5 percent while the
S&P SmallCap 600 index .SML advanced 2.1 percent. In
comparison, the benchmark S&P 500 .SPX gained 1.1 percent.
(Editing by Andrew Hay)