CYMI had a big day on Wednesday, trading up over 13% to finish the session at $55.89 after announcing Q1 results that pleased the market. CYMI also set a new 52 week high in the process of $56.01, before pulling back slightly and closing the session at $55.89. Volume was extremely heavy, with over 5.7 million shares of the stock changing hands, compared to a normal daily average of 975k shares traded. The company traded up after reporting Q1 earnings of 52 cents per share on revenues of $127.1 million dollars. Analysts were only expecting earnings of 42 cents per share on revenues of $120.4 million dollars. This led to a couple of analyst upgrades, including one by Needham + Co., who upgraded the stock to Buy from Hold. As of Wednesday’s close, CYMI had a market cap of just over $2 billion dollars.
Sorry, the comment form is closed at this time.