Chip Stock Soars to Record Highs After Earnings

Wall Street newcomer Arm Holdings PLC (NASDAQ:ARM) is trading at record highs today following its fiscal-third quarter earnings report. Up 38.8% to trade at $106.87  -- earlier rising as high as $107.58 -- the chipmaker beat expectations with adjusted earnings of 29 cents per share on revenue of $824 million, and forecasted better-than-expected earnings and revenue guidance for the fourth quarter.Unsurprisingly, options traders are targeting the stock at a much faster-than-usual clip. Already today, 92,000 ...