Chipmaker GlobalFoundries rises on upbeat Q1 forecast

Generac Holdings

11/02/2026 13:17

** Shares of chipmaker GlobalFoundries GFS.O rise 5.6% to $44.25 premarket after Q1 revenue and profit forecasts above estimates

** GFS expects Q1 adj. EPS of 35 cents vs analysts' average estimate of 34 cents - LSEG-compiled data

** Forecasts Q1 revenue of $1.62 bin vs expectation of $1.61 bln

** Co attributes strong execution and disciplined cost management for stronger growth

** Agreed to acquire Synopsys' Processor IP Solutions business last month

** GFS says recent acquisitions are expanding its capabilities into diversified, holistic technology solutions provider

** Co also approves a share buyback worth $500 mln

** GFS stock fell nearly 19% in 2025, up 20% this year

 (Reporting by Utkarsh Tushar Hathi)

 ((utkarshtushar.hathi@thomsonreuters.com))