United Microelectronics (UMC) Surges 9.2%: Is This an Indication of Further Gains?

United Microelectronics is part of the Zacks Electronics - Semiconductors industry. Qualcomm (QCOM) , another stock in the same industry, closed the last trading session 0.6% higher at $153.61. QCOM has returned -2.8% in the past month. Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements. For United Microelectronics, the c ...