AXT Posts Upbeat Q2 Earnings, Joins Newell Brands, SPX Technologies, Amazon And Other Big Stocks Moving H

U.S. stocks were mixed, with the Nasdaq Composite gaining around 50 points on Friday.

Shares of AXT Inc (NASDAQ:AXTI) rose sharply after the company reported better-than-expected second-quarter financial results and issued strong third-quarter guidance.

Semiconductor wafer manufacturer AXT reported adjusted EPS of 19 cents, which beat the analyst consensus estimate of seven cents, according to Benzinga Pro data.

Revenue rose 164.80% year over year (Y/Y) to $47.59 million, blowing past the Street estimate of $34.09 million.

AXT shares jumped 25.3% to $58.80 on Friday.