STMicro’s Profit Turnaround Eclipsed by More Optimistic Rivals

STMicroelectronics NV’s first profit in 11 quarters, showing Europe’s largest semiconductor maker rebounding from its phone-chip troubles, was eclipsed by rivals’ more optimistic predictions for rising demand.

The chipmaker’s shares fell as much as 4.5 percent after its forecast for the current quarter lined up with analysts’ projections. In contrast, forecasts from Intel Corp. and Texas Instruments Inc. topped estimates, fueling expectations that the smartphone and personal-computer markets are picking up.