Photronics (PLAB), a photomask manufacturer, saw its stock price surge by as much as 27.1% during Wednesday's trading session, only to pull back to a 4% gain within 20 minutes. This followed the company's announcement of better-than-expected fiscal third-quarter 2026 results, with revenue reaching $216 million, surpassing analysts' estimates of $208.8 million, and adjusted earnings per share of $0.50, exceeding the consensus estimate of $0.40. However, investors pared back the gains after considering a slight year-over-year decline in earnings and a modest fourth-quarter guidance.