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Lam Research Corporation stock price
Lam Research Corporation latest news:
ADP CEO slams Ackman's research and 'spoiled brat' antics
NEW YORK (Reuters) - The CEO of Automatic Data Processing Inc slammed investor William Ackman on Thursday, likening the hedge fund manager to a "spoiled brat" and skewering the billionaire's research efforts into the payroll processor.
SAP quarterly profit shy of forecast on higher cloud costs
SAP, Europe's most valuable technology firm, posted rapid growth in internet-delivered cloud services, dampening near-term operating profit, which was slightly below forecasts the company blamed on higher cloud research and marketing costs.
AMD's stock surges to lead S&P 500 gainers in active trade
Shares of Advanced Micro Devices Inc. surged 3.9% in active midday trade Friday, enough to pace the S&P 500's gainers, amid a broad rally in semiconductor stock. Volume topped 49 million shares within two hours after the open, which is already more than half the full-day average, and enough to make the stock the most actively traded on major U.S. exchanges. The PHLX Semiconductor Index hiked up 1.6%, as the stocks of three other chip companies were among the top S&P 500's gainers: Lam Research Corp.'s ran up 3.1%, Applied Materials Inc.'s climbed 3.0% and Nvidia Corp.'s rallied 2.1%. Morgan Stanley analyst Joseph Moore raised his stock price target for Applied Materials to $52 from $47, and for Lam Research to $168 from $135. Moore said he believes capital spending in chips and display is continuing to improve, and that memory strength is driving an "unprecedented" memory cash flow. AMD's stock has now rallied 19% year to date, while the SOX has rallied 16% and the S&P 500 has gained 8.2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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