United Microelectronics (UMC) shares plummeted 7.73% during pre-market trading on Thursday, extending losses from the previous session.
The semiconductor foundry's stock faced selling pressure after reporting fourth-quarter earnings that slightly missed analyst estimates, despite revenue exceeding expectations. The earnings miss prompted two major analyst downgrades, with BNP Paribas lowering its rating to Underperform and JPMorgan downgrading the stock to Underweight, contributing to negative investor sentiment.
Additionally, the company provided cautious forward guidance for 2026, indicating flat wafer shipments and average selling prices expected for the first quarter, which further weighed on the stock price.
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