QLogic Shares Rise on Rosy Earnings News
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<i> Bloomberg News</i>
QLogic Corp.’s stock rose for the second day Monday, topping $100 a share, in the wake of a bullish quarterly earnings report by the Costa Mesa maker of chips that connect disk drives and accessories.
The company’s shares moved up 11%, or $10.19, on Monday to $100.25 in trading on the Nasdaq market. On Friday, the stock rose 19%, a day after the company reported that fourth-quarter profits more than doubled, largely from sales of new products.
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