NEW YORK (AP) -- Semiconductor stocks inched up in Thursday's trading, despite disappointing earnings results from the likes of Spansion Inc. and Novellus Systems Inc.
The Philadelphia Semiconductor Sector Index climbed 2.69 points, or .6 percent, to 486.14. Of the 19 index components, 16 were trading up.
Advanced Micro Devices Inc., which is scheduled to report first-quarter results after the closing bell, was one of the biggest gainers in the space. The stock spiked in midday trading, climbing 50 cents, or 3.6 percent, to $14.41 on the New York Stock Exchange.
Analysts are expecting AMD to post an average loss of 48 cents per share on $1.26 billion in revenue, according to a Thomson Financial survey.
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http://biz.yahoo.com/ap/070419/sector_snap_semiconductors.html?.v=1
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