Standard Microsystems Corp. (SMSC) reported fourth quarter adjusted net income of $0.05 per share after the bell Tuesday, down from $0.26 per share last year. The consensus estimate was for a loss of $0.17. First quarter EPS is expected to be between $0.29 and $0.38, compared to the consensus estimate of $0.27.
Standard Microsystems gapped up sharply Wednesday and climbed during the first hour of trade. Profit taking set in as the session progressed, but the stock closed higher by 2.11 at $26.34, with volume at a 9-month high. The stock set a month and a half high and re-crossed its 50-day moving average.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.