Stocks: Nasdaq flat, S&P 500 and Dow higher following Fed rate hike announcement
Posted On May 4, 2022
[view original post
Shares Skyworks Solutions (NASDAQ: SWKS), which makes semiconductors for wireless devices, crashed Wednesday morning, down 10.1% as of 10:20 a.m. ET, despite hitting analyst targets for its fiscal second-quarter sales and earnings last night. Heading into earnings day, analysts had predicted Skyworks would earn $2.63 per share (pro forma) on sales of $1.33 billion. Skyworks nailed the earnings goal, and reported sales of $1.34 billion.