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Earnings Results: Micron stock surges on earnings beat, improved forecast for memory-chip market

Micron Technology Inc. shares rose in the extended session Tuesday after the memory-chip maker’s results topped lowered expectations for the quarter and executives forecast improvement in the fourth quarter even though actual numbers were shy of Wall Street expectations.

Micron MU, -1.54% shares, which had been up 5% when the call started, were last up 10% after hours following the company’s outlook. Shares declined 1.5% to close the regular session at $32.68. In comparison, the S&P 500 index SPX, -0.95% finished down 1%, while the Nasdaq Composite Index COMP, -1.51% and the PHLX Semiconductor Index SOX, -1.48% both declined 1.5%.

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