US Stock Market Move | Memory concept stocks broadly rise; SK Hynix (SKHY.US) surges nearly 10% after earnings.

On Wednesday, US-listed memory concept stocks rose broadly. SK Hynix (SKHY.US) surged nearly 10% after earnings, as the company's Q3 revenue and operating profit beat expectations, and it plans a total shareholder return scale of KRW100 trillion for the full year; SanDisk (SNDK.US) and Micron Technology, Inc. (MU.US) both rose nearly 5%. On the news front, SK Hynix delivered a record third-quarter report and simultaneously unveiled a shareholder return plan far exceeding market expectations. The earnings report showed that third-quarter revenue was KRW104.62 trillion and operating profit was KRW83.33 trillion, both the highest for a single quarter in history, up 32% and 38% quarter-on-quarter, respectively, and up 328% and 632% year-on-year. The operating margin was 79.7%. The extent of the beat is one highlight of this earnings report: revenue was 11% above JPMorgan's forecast and 7% above the market consensus excluding Goldman Sachs Group, Inc.; operating profit was 16% above JPMorgan's forecast and 9% above consensus. In its report, JPMorgan gave a consensus basis of KRW97,870 billion (i.e., KRW97.87 trillion) in revenue and KRW76.74 trillion in operating profit.