Varian Semiconductor Equipment Associates (VSEA) reported a third quarter net loss of $0.20 per share after the close Thursday, compared to a profit of $0.25 per share in the prior year period. The consensus estimate was for a loss of $0.25. The company expects to report fourth quarter earnings between $0.01 and $0.06 per share, compared to the consensus estimate of a loss of $0.09.
Varian Semiconductor Equipment Associates gapped up Friday and climbed throughout the first half of the afternoon. The stock finished up by $2.22 at $32.04 on the highest volume of the year. Shares have been rising for the last 3 weeks and finished at an 11-month high.
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