ON Semiconductor Stock Is Falling. Earnings and Guidance Were Strong.
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ON Semiconductor stock fell in early trading Monday, even after first-quarter earnings surpassed expectations. The Scottsdale, Ariz.-based semiconductor manufacturer posted adjusted earnings per share of 55 cents, beating analysts’ calls for 50 cents, according to FactSet. Excluding adjustments for certain one-time items, ON Semiconductor posted a loss of $486.1 million.
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