Micron Technology (MU) – Get Report was climbing Tuesday after the maker of memory chips raised its first-quarter guidance.
Shares of the Boise, Idaho-based company were rising 5.12% to $67.38 at last check.
Micron raised its guidance range for adjusted earnings per share for the quarter to 69 cents to 73 cents from 40 cents to 54 cents, for revenue to $5.7 billion to $5.75 billion from $5 billion to $5.4 billion, and for reported gross margin to 28.5% to 29.5% from 25.5% to 27.5%.
Analysts surveyed by FactSet called for first-quarter earnings of 51 cents a share and revenue of $5.3 billion.