Piper Jaffray analyst Ruben Roy recommends using the recent weakness in shares of Applied Materials (AMAT) as a buying opportunity ahead of the company's earnings release next week. Concerns around the push-out of 10nm spending from Intel (INTC) and expectations for flattish memory spending in the second half of 2015 have pushed shares lower, Roy tells investors in a research note. The analyst sees limited share downside from current levels and points out Applied Materials order levels have remained strong and have shifted in strength to memory. He thinks now is the rime to buy the stock and reiterates an Overweight rating on the chip maker with a $25 price target. Applied Materials closed yesterday up 20c to $17.03 but are down 13% over the past month.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSSnap (SNAP) up... To see the rest of the story go to thefly.com. See Story Here

Pre-earnings options volume in Intel is normal with calls leading puts 2:1. Implied volatility suggests the market is anticipating a move near 5.6%, or $1.96, after results are released. Median move over the past eight quarters is 7.8%.

Intel (INTC) is scheduled to report results of its fiscal first quarter after the market close on April 25, with a conference call scheduled for 5:00 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here