United Microelectronics Corporation earnings update

Posted on April 26, 2006 , Filed Under Stocks

The United Microelectronics Corporation (UMC) earnings presentation started this morning at 8:00 am. You can listen to an audio stream of the presentation here. UMC reported 1st quarter earnings of .10 per share, double the analyst consensus of .05. I expect to see shares of UMC reach $3.90 or higher this week. I also expect to see shares of rival Taiwan Semiconductor Manufacturing Company Limited (TSM) up on the positive UMC earnings report. TSM is set to announce 1st quarter earnings tomorrow. The TSM earnings conference call is set to happen tomorrow at 8:00 am.