NXP shares climb 15 percent on strong quarterly outlook

NXP SEMICONDUCTORS NV shares rose 15% after forecasting second-quarter revenue between $3.35 billion and $3.55 billion. The outlook exceeds LSEG estimates of $3.27 billion as automotive and industrial chip demand recovers from a post-pandemic inventory glut. Investors view NXP's guidance as a signal that the semiconductor sector's prolonged slump in core end-markets is ending.

Inventory Clearing Drives Demand Recovery