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Fairchild Semiconductor (FCS +9%) stages a stunning reversal after opening down over 7% this...

Fairchild Semiconductor (FCS +9%) stages a stunning reversal after opening down over 7% this morning on disappointing Q3 results and dismal FY11 follow-on guidance. Earnings were flat on an overall decline in revenue, and margins took a hit on lower factory loadings and start-up costs. Despite it all, the stock rallied out of the gate on heavy buying as investors appear to be playing into a continuation off a bounce near its 52-week low hit last Tuesday.
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