Photronics stock falls again as PLAB slumps after earnings, chips tumble
Photronics Inc. shares fell nearly 7% to $29.33 Friday, extending losses after missing second-quarter revenue and profit targets. The stock hit a session low of $28.87 as chip stocks slid and the Philadelphia Semiconductor Index dropped 8.1%. Photronics reported $209.9 million in revenue, below Wall Street expectations, and gave a weak third-quarter outlook. Investors are watching delayed chip-design launches and new law firm investigations.