US stock market fluctuations | Microchip Technology (MCHP.US) rises nearly 9% with strong booking performance, raises third quarter earnings guidance.

According to the financial news app Caijing, on Wednesday, Microchip Technology (MCHP.US) rose nearly 9%, reaching $61.72. On the news front, Microchip Technology raised its expectations for net sales and earnings per share for the third quarter, mainly due to strong performance in orders during the period. The company is currently expecting adjusted earnings per share of 40 cents for the third quarter, at the upper end of the previously estimated range of 34 to 40 cents per share; and the expected net sales will also reach the upper end of the previously forecasted range of $1.11 billion to $1.15 billion.