KLA stock rises as weak outlook overlooked on forecast of second-half recovery

KLA Corp.’s quarterly results topped Wall Street estimates late Wednesday, but its outlook didn’t, and while that depressed shares at first, the stock swung to a gain after hours as the chip making-equipment supplier pointed to a growing stability in its end markets.

KLA KLAC shares ticked up 2% after hours, following a 0.1% decline in the regular session to close at $357.36. While the PHLX Semiconductor Index SOX rose 0.6%, the S&P 500 index declined 0.4% SPX, and the tech-heavy Nasdaq Composite Index COMP rose 0.5%.

KLA…