Aixtron jumps on strong order intake despite FY outlook cut
** Shares in Aixtron AIXGn.DE jump around 18% after strong Q2 order intake, even as the German supplier of semiconductor manufacturers cut its FY guidance
** The company posted Q2 intake of 176 million euros ($190.43 million) for the quarter, compared to 177.9 million euros a year earlier, as its revenue came in at 132 million euros vs 173.5 million last year
** "Considering the strong order intake and its solid momentum in silicon carbide (SiC) and gallium nitride (GaN), as well as sales in the upper half of AIXA guidance of the prelim results should not be received too negative," a local trader says, flagging the stock's weak performance since June
** Aixtron now expects FY revenue in the range of 620 million and 660 million euros ($670.84 million-$714.12 million), down from its previous forecast of 630 million to 720 million
** The stock, which has lost 51.2% YTD, is at the top of Germany's mid-cap index .MDAXI and Europe-wide STOXX 600 .STOXX index
** If gains hold, it will see its best day since June 2021
($1 = 0.9242 euros)
Reporting by Ozan Ergenay
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