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Microchip Technology Forecasts Weak Q2 Sales, Shares Drop 5%

Microchip Technology MCHP.O, a chipmaker, predicted secondquarter net sales to be lower than Wall Street projections, citing sluggish demand from the

Microchip Technology MCHP.O, a chipmaker, predicted secondquarter net sales to be lower than Wall Street projections, citing sluggish demand from the pandemics surplus inventory and slower sales of electric cars. In extended trade, shares dropped more than 5%. For the quarter ending in September, the business projects net sales of $1.12 billion to $1.18 billion, which is less than the average forecast of $1.31 billion made by analysts. CEO Ganesh Moorthy mentioned weakerthanexpected circumstances in the automotive and industrial segments as significant causes. Microchips firstquarter revenue of $1.24 billion was 46% less than a year ago, but its adjusted earnings per share of 53 cents was somewhat higher than anticipated. Read More..

B2B Tech News | 1 years ago        

Lam Research Projects Q3 Revenue Between $4.05B and $4.35B, Driven by AI Boom

Amidst the AI boom, Lam Research predicted sales for the September quarter to range from $4.05 billion to $4.35 billion, above Wall Streets $4.02 bill

Amidst the AI boom, Lam Research predicted sales for the September quarter to range from $4.05 billion to $4.35 billion, above Wall Streets $4.02 billion projection. The business projects an adjusted net income per share of $8, which aligns with projections. Lam Research announced sales of $3.87 billion and adjusted earnings per share of $8.14 for the quarter ended June 30, both of which were higher than expected. With 39% of revenue coming from China, down from 42% earlier, the companys revenue increased by 22% to nearly $39 billion. Suppliers such as Lam Research profit from the ongoing increase in demand for wafer manufacturing equipment due to the growing need for memory and highperformance computing semiconductors. Read More..

B2B Tech News | 1 years ago        

Cognizant’s Q2 Profit Rises to $566 Million Revenue Guidance Increased to $19.5 Billion

A 22% rise in Q2 net profit to $566 million was revealed by Cognizant, which also updated its FY24 sales projection from $19.3 billion to $19.5 billio

A 22% rise in Q2 net profit to $566 million was revealed by Cognizant, which also updated its FY24 sales projection from $19.3 billion to $19.5 billion. The businesss Q2 sales of $4.85 billion were up 1.9% sequentially but down 0.7% annually. While Cognizants health sciences division gained 3% sequentially, the banking and finance segment witnessed a 5% sequential increase. Meanwhile, the goods and resources category saw a 4.3% annual drop. After signing two $90 million and five $100 million transactions, the firms overall contract value reached $26.2 billion. Cognizant reported better sales momentum and operational efficiency despite an 8,100 staff reduction from Q1 2024. Read More..

B2B Tech News | 1 years ago        

Mitsubishi Reports 12% Increase in Q1 Net Profit, Surpassing Expectations

On Thursday, the Japanese trading company Mitsubishi 8058.T reported a 12% rise in firstquarter net profit yearly, at 354.4 billion yen $2.37 billion.

On Thursday, the Japanese trading company Mitsubishi 8058.T reported a 12% rise in firstquarter net profit yearly, at 354.4 billion yen $2.37 billion. The outcome surpassed the 290.8 billion yen prediction made by experts. The main drivers of the profit spike were the selling of two metallurgical coal mines and the declining value of the yen, which increased the companys profitability. The impressive result, which exceeded projections and demonstrated Mitsubishis solid financial stability in the face of market volatility, emphasises the companys effective asset management and advantageous currency circumstances. Read More..

B2B Tech News | 1 years ago        

Elon Musk’s xAI Denies Acquisition Plans for Chatbot Startup Character.AI

Elon Musk announced on Wednesday that he is not considering buying chatbot firm Character.AI through his AI startup, xAI, even if past The Information

Elon Musk announced on Wednesday that he is not considering buying chatbot firm Character.AI through his AI startup, xAI, even if past The Information publications hinted at such a change. The conjecture surfaced as xAI looks to increase the scope of its Grok AI model testing. Musks explanation, posted on social networking site X, disproved the rumours of a potential acquisition. xAI is not pursuing Character.AI the firm stays focused on its current development goals and strategy. Currently, Character.AI is a part of their growth plan. Read More..

B2B Tech News | 1 years ago        

London High Court Rules in Favor of Intel, Invalidates R2 Semiconductors Patent

In a landmark court case in London, Intel defeated R2 Semiconductor, which was requesting an injunction to prevent the sale of Intel processors due to

In a landmark court case in London, Intel defeated R2 Semiconductor, which was requesting an injunction to prevent the sale of Intel processors due to suspected patent infringement. R2 argued that Intels completely integrated voltage regulators infringed its patent, but the High Court invalidated the claim due to a lack of creativity. The ruling by the court opens the door for Intels products, including the "Ice Lake" server CPUs, even though Intel would have violated the patent if it had been legitimate. This result contrasts one from a German court in February that found Intel to have violated the law however, that decision is presently being appealed. Read More..

B2B Tech News | 1 years ago        

India’s Economic Report Advocates Attracting Chinese Investment Over Supply Chain Integration

In contrast to joining Chinas supply chains, Indias most recent economic report suggests luring Chinese investment. Chinese businesses should build fa

In contrast to joining Chinas supply chains, Indias most recent economic report suggests luring Chinese investment. Chinese businesses should build facilities in India and export to Western markets, says Chief Economic Adviser V. Anantha Nageswaran, rather than import Chinese components for assembly. This strategy attempts to lessen the possibility of export limitations from Beijing while addressing Indias $85 billion trade deficit with China. In light of a 2020 border dispute, Indias Finance Minister Nirmala Sitharaman has shifted her position to favour Chinese investments, changing her cautious approach. Many investment bids are still awaiting clearance, even though some Chinese companies have already invested in India. The continued tensions in the U.S.China trade will also affect the effectiveness of this plan. Read More..

B2B Tech News | 1 years ago        

RBI’s Draft Guidelines to Boost Government Bond Demand Amid Increased Digital Banking Use

Aiming to improve banks liquidity resilience in response to the growing usage of digital infrastructure, the Reserve Bank of India has released new dr

Aiming to improve banks liquidity resilience in response to the growing usage of digital infrastructure, the Reserve Bank of India has released new draft recommendations. The guidelines suggest that starting on April 1, 2025, there will be an extra 5% decrease in the stability of retail deposits accessed through online and mobile banking. To achieve liquidity coverage ratio LCR standards, banks will probably need more highquality liquid assets HQLA, including government bonds. Because private banks would need to increase their holdings, there will likely be a spike in demand for government bonds. The demand for shorterduration bonds may rise as banks prepare for the new laws, even if the immediate impact on government bond rates may be insignificant. Read More..

B2B Tech News | 1 years ago        



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