Here's Why ON Semiconductor Surged Higher Today

Shares in ON Semiconductor (ON 7.74%) were up as much as 10% on the opening of trading today. The move comes after a satisfactory set of fourth-quarter earnings and first-quarter guidance. I've used the word "satisfactory" because the figures weren't anything outstanding. The company's revenue came in slightly above the midpoint of management's guidance, and the earnings per share of $1.25 in the fourth quarter were at the high end of the guidance range of $1.13 to $1.27.That's good enough, however the firs ...