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☆ TSMC Expects to Outsmart the Chip Downturn
▼ + stars: | 2023-01-12 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

The world’s largest contract chip maker finished 2022 on a high note. But with a recession—or at the very least slower growth—lurking around the corner in the U.S., 2023 will probably be a much more challenging year. Taiwan Semiconductor Manufacturing Co., which counts most of the biggest chip designers including Apple Inc. and Nvidia Corp. as its customers, is a bellwether for the chip industry. And the signal it is sending is worrying—at least for the first half of 2023.

☆ Cramer's lighting round: Energy Transfer is a very good stock
▼ + stars: | 2023-01-10 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

... We have pulled back a little bit [for the Charitable Trust]." Loading chart...Algonquin Power & Utilities Corp : "Let us do more work and come back." Loading chart...Energy Transfer LP : "ET is actually a very good stock. ... Times change and it's become a better, better stock." Disclaimer: Cramer's Charitable Trust owns shares of Nvidia.

☆ Higher Rates and Tech Selloff Fuel Options Boom
▼ + stars: | 2023-01-09 | by ( Eric Wallerstein | ) www.wsj.com time to read: 1 min

While Nvidia shares closed at $148.59 Friday, investors could exercise put option contracts set to expire in coming weeks at $170 or above. Investors trying to capitalize on higher interest rates and the deep selloff in big technology stocks are stoking a flurry of activity in the options market. Popular stocks such as Amazon.com Inc. and Nvidia Corp. lost about half of their value in the past year, raising the worth of some options tied to those shares. Their share declines have been much steeper than many investors wagered, creating a mountain of deep in-the-money put option contracts—or those that allow investors to sell the shares at a price that is now far above current levels.

☆ Higher Rates, Tech Selloff Fuel Options Boom
▼ + stars: | 2023-01-09 | by ( Eric Wallerstein | ) www.wsj.com time to read: 1 min

Automakers from Sony Honda to Hyundai are introducing ways at the CES 2023 technology trade show this week to reshape the in-car entertainment experience, including offering video games during the rides. "This is a field which can be deployed very quickly," Dirk Hilgenberg, head of Volkswagen AG's (VOWG_p.DE) CARIAD software unit, told Reuters at CES. In December, Tesla issued a "holiday update" to its software to add access to 1,000 PC games through the Steam platform. Still, these are features that consumers are demanding, so VW is at CES seeking partnerships. "We will see the content ... which is provided by software enabled functionality will be a decisive factor for buying."

☆ Nvidia, Foxconn Partner on Electric Vehicles
▼ + stars: | 2023-01-03 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Nvidia Corp. is now increasingly betting on software and chips that underpin sophisticated driver-assistance systems. Graphics chip maker Nvidia Corp. is partnering with electronics-component maker Foxconn Technology Group on electric vehicles, as both tech companies continue to push into the booming market. The two companies on Tuesday announced the partnership, where Foxconn, a contract manufacturer best known for its work on Apple Inc. products, would produce electronic control units based on Nvidia’s Drive Orin system-on-a-chip, the central computer for intelligent vehicles.

☆ Nvidia, Foxconn to build autonomous vehicle platforms
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] A woman walks past the logo of Foxconn outside a company's building, in New Taipe City, Taiwan December 22, 2022. REUTERS/Annabelle Chih/File PhotoJan 3 (Reuters) - Chipmaker Nvidia Corp (NVDA.O) and electronics manufacturer Foxconn (2317.TW) announced a partnership on Tuesday to develop autonomous vehicle platforms. Taiwanese contract manufacturer Foxconn said it will manufacture electronic control units (ECUs) for cars based on Nvidia's DRIVE Orin chip made specifically for computing in connected and autonomous vehicles. The ECUs will serve the global automotive market, Foxconn said. Foxconn, which operates a vehicle manufacturing facility in Ohio, said its vehicles will contain ECUs based on DRIVE Orin and Nvidia's DRIVE Hyperion sensors for autonomous driving.

☆ Wall St ends 2022 with biggest annual drop since 2008
▼ + stars: | 2022-12-30 | by ( Echo Wang | ) www.reuters.com time to read: +4 min

The benchmark S&P 500 (.SPX) has shed 19.4% this year, marking a roughly $8 trillion decline in market cap. The tech-heavy Nasdaq (.IXIC) is down 33.1%, while the Dow Jones Industrial Average (.DJI) has fallen 8.9%. The S&P 500 growth index has fallen about 30.1% this year, while the value index (.IVX) is down 7.4%, with investors preferring high dividend-yielding sectors with steady earnings such as energy. Ten of the 11 S&P (.SPX) sector indexes dropped on Friday, led by real estate and utilities. The S&P 500 posted no new 52-week highs and no new lows; the Nasdaq Composite recorded 85 new highs and 134 new lows.

☆ Wall St set to end challenging year with steep drop
▼ + stars: | 2022-12-30 | by ( Echo Wang | ) www.reuters.com time to read: +3 min

Growth stocks have been under pressure from rising yields for much of 2022 and have underperformed their economically linked value peers, reversing a trend that had lasted for much of the past decade. Apple Inc (AAPL.O), Alphabet Inc (GOOGL.O), Microsoft Corp (MSFT.O), Nvidia Corp (NVDA.O), Amazon.com Inc (AMZN.O), Tesla Inc (TSLA.O) are among the worst drags on the S&P 500 growth index (.IGX), down between 28% and 66% in 2022. The S&P 500 growth index has fallen about 30.5% this year, while the value index (.IVX) is down 7.7%, with investors preferring high dividend-yielding sectors with steady earnings such as energy. Ten of the 11 S&P (.SPX) sector indexes dropped on Friday, led by real estate and utilities. The S&P 500 posted no new 52-week highs and no new lows; the Nasdaq Composite recorded 56 new highs and 116 new lows.

☆ TSMC starts volume production of most advanced chips in Taiwan
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +2 min

TAINAN, Taiwan, Dec 29 (Reuters) - Chipmaker Taiwan Semiconductor Manufacturing Company Ltd (TSMC)(2330.TW), began mass production of its most advanced chips in southern Taiwan on Thursday and the company's chairman said it would continue to expand capacity on the island. The long-awaited mass production of chips with 3-nanometre technology comes as attention focuses on the world's largest contract chipmaker's investment plans at home and abroad. TSMC has a dominant position as a maker of advanced chips used in technology from cellphones to fighter jets. Taiwan's government has dismissed concerns about a "goodbye to Taiwan" trend for the chip industry, saying the island's position as a major semiconductor producer and maker of the most advanced chips is secure. TSMC said it was working to build factories for the next generation 2-nanometre chips, which were planned to be manufactured in northern and central Taiwan.

The final estimate of third-quarter U.S. GDP revealed gross domestic product increased at a 3.2% annualized rate, above the previous estimate of 2.9%. Micron Technology Inc (MU.O) slipped 3.2% after the chipmaker forecast a bigger-than-expected second-quarter loss, sparking declines in peers. Declining issues outnumbered advancers for a 5.83-to-1 ratio on the NYSE and a 3.28-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week highs and nine new lows, while the Nasdaq recorded 27 new highs and 180 new lows. Reporting by Shubham Batra, Amruta Khandekar, Ankika Biswas and Johann M Cherian in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Intel splits graphic chips unit into two
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

Dec 21 (Reuters) - Intel Corp (INTC.O) is splitting its graphic chips unit into two, the company said on Wednesday, as it realigns the business to better compete with Nvidia Corp (NVDA.O) and Advanced Micro Devices (AMD.O). The consumer graphics unit will be combined with Intel's client computing group, which makes chips for personal computers, while accelerated computing teams will join its data center and artificial intelligence (AI) business, the company said. The move comes as Intel doubles down on accelerated computing, a growing segment dominated by Nvidia as AI use surges. Raja Koduri, who led the graphic chips unit, will return to his role as chief architect and oversee the company's long-term technology and chip design strategy. Koduri, who has led graphics technology ventures at iPhone maker Apple (AAPL.O) and AMD, joined Intel in 2017.

☆ Wall Street tumbles as Fed sparks recession fears
▼ + stars: | 2022-12-15 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The Fed projected continued rate hikes to above 5% in 2023, a level not seen since a steep economic downturn in 2007. "What the market is saying is if you continue this way, a recession is basically a done deal." Money market participants expect at least two 25 bps rate hikes next year and borrowing costs to peak at about 4.9% by midyear, before falling to around 4.4% by year-end. All the 11 major S&P 500 sectors were in the red, with communication services (.SPLRCL) and technology stocks (.SPLRCT) falling about 4% as the worst performing on the session. The S&P 500 posted one new 52-week high and seven new lows; the Nasdaq Composite recorded 51 new highs and 289 new lows.

The U.S. central bank hiked rates by 50 basis points (bps) on Wednesday, slowing down from four back-to-back 75 bps hikes, although Fed Chair Jerome Powell said recent signs of slowing inflation have not brought any confidence yet that the fight had been won. The Fed's policy-setting committee projected it would continue raising rates to above 5% in 2023, a level not seen since a steep economic downturn in 2007. Money market participants currently expect at least two 25 bps rate hikes next year and borrowing costs to peak at 4.9% by May next year, before falling to around 4.4% by year-end. Wall Street's main indexes have staged a strong recovery since hitting 2022 lows in October on hopes of a less aggressive Fed, but the rally stalled in December due to mixed economic data and worrying corporate forecasts. Tesla Inc (TSLA.O) fell 2.9% after CEO Elon Musk disclosed another $3.6 billion in stock sales, taking his total near $40 billion this year and frustrating investors as the company's shares wallow at two-year lows.

☆ Futures slide as hawkish Fed quashes policy pivot hopes
▼ + stars: | 2022-12-15 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

Investors currently expect at least two 25 bps rate hikes next year and borrowing costs to peak at 4.9% by May next year, before falling to around 4.4% by year-end. Both central banks are expected to hike borrowing costs by 50 bps. Shares of megacap companies, including Apple (AAPL.O), Amazon.com Inc (AMZN.O), Microsoft Corp (MSFT.O) and Nvidia Corp , fell between 1.1% and 2.1% in premarket trading. Trade Desk Inc (TTD.O) slipped 4.1% after Jefferies downgraded its rating for the adtech firm to "hold" from "buy". Reporting by Sruthi Shankar and Ankika Biswas in Bengaluru; Editing by Savio D'Souza and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

The Fed's policy-setting committee projected it would continue raising rates to above 5% in 2023, a level not seen since a steep economic downturn in 2007. Money market participants currently expect at least two 25 bps rate hikes next year and borrowing costs to peak at 4.9% in the first half, before falling to around 4.4% by the year end. Wall Street's main indexes have staged a strong recovery since hitting 2022 lows in October on hopes of a less aggressive Fed, but the rally stalled in December on the back of mixed economic data and worrying corporate forecasts. Investors also digested economic data on Thursday that showed a steeper-than-expected decline in retail sales in November and the number of Americans filing for unemployment benefits falling last week, indicating a tight labor market. The S&P index recorded no new 52-week highs and four new lows, while the Nasdaq recorded 24 new highs and 120 new lows.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. Wall Street's main indexes have slumped this year on fears of aggressive rate hikes triggering a U.S. recession. The Nasdaq and the S&P 500 (.SPX) have fallen 29.5% and 17.2%, respectively, so far in 2022 and are on track for their worst yearly performance since 2008. Seven out of the 11 major S&P 500 sector indexes were in the green, led by energy (.SPNY) and technology stocks (.SPLRCT). The S&P index recorded no new 52-week highs and two new lows, while the Nasdaq recorded 29 new highs and 136 new lows.

Producer prices climbed 7.4% last month on an annual basis, the Labor Department's report showed, compared with economists' expectations of a 7.2% increase. Core producer prices, which exclude volatile food and energy components, jumped 6.2% compared with estimates of a 5.9% rise. Consumer prices data for November, due Tuesday, will provide fresh clues on the central bank's monetary tightening plans. U.S. stocks had snapped a recent run of losses on Thursday after data showed initial jobless claims modestly rose last week, suggesting the labor market was deteriorating. The S&P index recorded five new 52-week highs and one new lows, while the Nasdaq recorded 24 new highs and 96 new lows.

☆ S&P 500, Nasdaq snap losing streaks after jobless claims rise
▼ + stars: | 2022-12-08 | by ( David French | ) www.reuters.com time to read: +4 min

Wall Street's main indexes had come under pressure in recent days, with the S&P 500 shedding 3.6% since the beginning of December on expectations of a longer rate-hike cycle and downbeat economic views from some top company executives. Such thinking had also weighed on the Nasdaq Composite (.IXIC), which had posted four straight losing sessions prior to Thursday's advance on the tech-heavy index. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. REUTERS/Brendan McDermidNine of the 11 major S&P 500 sectors rose, led by a 1.6% gain in technology stocks (.SPLRCT). The S&P 500 posted 15 new 52-week highs and three new lows; the Nasdaq Composite recorded 82 new highs and 232 new lows.

SummarySummary Companies Weekly jobless claims rise in line with estimatesSalesforce slips on downgradeIndexes up: Dow 0.72%, S&P 0.82%, Nasdaq 1.19%Dec 8 (Reuters) - The S&P 500 gained ground on Thursday, lifted by technology and energy shares, while a rise in weekly jobless claims suggested the labor market was slowing down. "More people are filing jobless claims, which shows labor forces are weakening a little bit," said Thomas Hayes, chairman at Great Hill Capital LLC in New York. Ten of the 11 major S&P 500 sector indexes rose, led by 1.5% gain in technology stocks (.SPLRCT). Most mega-cap technology and growth stocks such as Apple Inc (AAPL.O), Nvidia Corp (NVDA.O) and Amazon.com (AMZN.O) rose between 1.4% and 4.2%. The S&P index recorded 11 new 52-week highs and two new lows, while the Nasdaq recorded 53 new highs and 132 new lows.

☆ Futures fall on growing fears of recession
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures down: Dow 0.11%, S&P 0.21%, Nasdaq 0.30%Dec 7 (Reuters) - U.S. stock index futures edged lower on Wednesday after warnings of a looming recession from major Wall Street bankers offset optimism around the easing of China's strict zero-COVID rules. Fears of a recession due to the U.S. Federal Reserve's aggressive rate hikes to curb inflation pulled the S&P 500 (.SPX) lower for a fourth straight session on Tuesday, with all major Wall Street indexes closing down 1-2%. ET, Dow e-minis were down 36 points, or 0.11%, S&P 500 e-minis were down 8.25 points, or 0.21%, and Nasdaq 100 e-minis were down 34.75 points, or 0.3%. Among other stocks, GameStop Corp (GME.N) jumped 1.1% ahead of its third-quarter results where it is expected to report a 4.5% rise in revenue. Reporting by Shubham Batra and Ankika Biswas in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ TSMC expects $10 billion in annual revenue from Arizona fabs
▼ + stars: | 2022-12-06 | by ( Jane Lanhee Lee | ) www.reuters.com time to read: +2 min

PHOENIX, Dec 6 (Reuters) - Taiwanese chipmaker TSMC (2330.TW) on Tuesday estimated annual revenue of $10 billion when its two planned chips fabrication plants open in Arizona. TSMC said Tuesday it was more than tripling its planned investment in the factories to $40 billion. U.S. President Joe Biden and others, including the CEOs of major TSMC customers, are attending a "tool-in" ceremony for the symbolic moving of the first equipment onto the shop floor of the new $12 billion facility. "When completed with both fabs, we will manufacture over 600,000 wafers a year, representing $10 billion in yearly revenue and with our customers product sales over $40 billion a year," said TSMC Chief Executive Mark Liu. Apple Inc (AAPL.O), Nvidia Corp (NVDA.O), and Advanced Micro Devices Inc (AMD.O), all major TSMC customers, said they expected their chips to be made in the new Arizona plants.

☆ Department of Homeland Security to probe cyber attacks linked to Lapsus$
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

Dec 2 (Reuters) - The U.S. Department of Homeland Security (DHS) said on Friday the Cyber Safety Review Board will investigate recent cyber-attacks linked to Lapsus$. "Lapsus$ has reportedly employed techniques to bypass a range of commonly-used security controls and has successfully infiltrated a number of companies across industries and geographic areas," the DHS said. It is also known to have infiltrated systems at Nvidia Corp (NVDA.O), Microsoft Corp (MSFT.O) and Okta Inc (OKTA.O), an authentication service. The Cyber Safety Review Board is a public-private body that takes up fact-finding initiatives. It serves to review major cyber events and make concrete recommendations.

☆ Cramer's lightning round: Let Extreme Networks cool off a little before buying
▼ + stars: | 2022-12-02 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Loading chart...Paramount Group Inc : "It is very inexpensive, but at the same time, I don't like office real estate. Extreme Networks Inc : "I think it's a very good networking company. ... Let it cool off a little, and then you can do some buying." Loading chart...Super Micro Computer Inc : "It seems too good to be true, which means we have to ... figure out exactly what that company does." Loading chart...Barrick Gold Corp : "It's got a good yield, but the problem is, is that the dollar's got to get weaker.

"Adding to the Fed's problems, monetary conditions have loosened in recent weeks as the dollar and longer-dated Treasury yields have fallen and credit spreads have narrowed. This is undoing the tightening effects of the Fed's recent rate rises." Investors now see an 87% chance that the Fed will increase interest rates by 50 basis points in December, down from 91% before the jobs data was published on Friday. Declining issues outnumbered advancers for a 5.14-to-1 ratio on the NYSE and a 3.09-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and no new low, while the Nasdaq recorded 15 new highs and 40 new lows.

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