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☆ David Tepper's Appaloosa cut exposure to several semiconductor stocks, but bought into one well-known ETF
  + stars: | 2024-02-14 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
David Tepper's Appaloosa Management trimmed positions in multiple semiconductor stocks during the fourth quarter, while buying into a closely-watched technology exchange-traded fund. Tepper cut back exposure to Advanced Micro Devices , Intel , Lam Research , Micron , Nvidia and Taiwan Semiconductor in the latest quarter, regulatory fillings show. Taiwan Semiconductor saw the largest sale on a percentage basis, with the Carolina Panthers football team owner approximately halving his stake. Elsewhere in technology, Tepper built an initial stake in Oracle , while adding to Microsoft and Amazon . Microsoft and Amazon are now the second and third largest positions.
Persons: David Tepper's, Tepper, ARKK, Cathy Wood's Organizations: Devices, Intel, Lam Research, Micron, Nvidia, Taiwan Semiconductor, VanEck Semiconductor, Carolina Panthers football, Qualcomm, AMD, Pittsburgh, Innovation, Oracle, Microsoft, Amazon . Holdings, Meta, United Parcel Service, HCA Healthcare, General Motors, FMC, Pitt, Carnegie Mellon, Arista Networks, PDD Holdings, Uber Locations: Lam, Caesars, Alibaba
☆ Red states are big winners of Biden’s landmark laws
  + stars: | 2024-02-14 | by ( Matt Egan | ) edition.cnn.com   time to read: +7 min
Fitch defined red states as those that voted for former President Donald Trump in 2020 by more than three percentage points. “The reality is manufacturing was migrating to those states even before the CHIPS Act and the IRA. Relative to the size of their state economies, Arizona, Idaho and West Virginia are the biggest winners from the IRA and CHIPS Act investments, according to Fitch. New York leads blue state winnersNone of this is to say blue states aren’t benefiting from the IRA and the CHIPS Act. Micron cited the tax credits in the CHIPS Act as well as incentives provided by New York state aimed at luring semiconductor companies.
Persons: Joe Biden, Biden, Fitch, Donald Trump, Olu Sonola, Sonola, ‘, ” Natalie Quillian, “, ”, Lauren Boebert, Quillian Organizations: New, New York CNN, Redwood Materials, Redwood, America’s, IRA, Republican, CNN, Fitch, Trump, Micron, White House, White, Lonestar, Samsung, Intel, IBM, Central, “, CS, Colorado Republican Locations: New York, South Carolina, Arizona, Georgia, Nevada , North Carolina , Michigan, Pennsylvania, Wisconsin, Idaho, Boise, America, Texas, Taylor , Texas, Austin, Russia, Canada, Arizona , Idaho, West Virginia, Chandler , Arizona, “ Arizona, . New York, Hudson Valley, Central New York, “ New York, Colorado, Pueblo , Colorado
☆ India is the new Asia growth story. Here’s why investors are bullish on the outlook
  + stars: | 2024-02-08 | by ( Hakyung Kim | ) www.cnbc.com   time to read: +7 min
As China's property market and deflation woes continue to rattle investors, India's growth outlook appears all the more impressive. Last year's annual report attributed strong revenue growth partially to expansion in the Middle East, India, and Asia, Krishna wrote. "More than revenue, India is an important area for sourcing talent" as well, Krishna wrote. Growth potential For investors looking to gain exposure to the domestic stock market, Indian equities themselves aren't especially cheap though. "You're paying for the growth potential in India, certainly.
Persons: Morgan Stanley, Chetan Ahya, Ahya, Bernstein, —, Narendra Modi, Bill Fitzpatrick, Fitzpatrick, Quincy Krosby, Venu Krishna, Aecom, Krishna, Tim Long, Long, Simon Coles, Krosby, Jeffrey Gundlach, Gundlach, CNBC's, — CNBC's Michael Bloom Organizations: Investment, Logan Capital Management, Modi, Infrastructure Pipeline, Aecom, Barclays, Cisco Systems, Juniper Networks, India —, Semiconductor, Micron Technology, Qualcomm, Logan Capital Locations: India, China, Asia, Philadelphia, South Carolina . U.S, Dallas, East, Asia Pacific, Japan, Coles , U.S, U.S, IShares
☆ Booming semiconductor companies just earned one more market leadership honor
  + stars: | 2024-02-08 | by ( Ian Thomas | ) www.cnbc.com   time to read: +2 min
Chip stocks have been on a stock market tear for the last year, outpacing FAANG and other tech sector leaders in a rapid rise boosted by market enthusiasm for advanced AI chips. That success has now migrated over to another corporate performance measure. Semiconductor companies overtook FAANG stocks in Just Capital's annual ranking of public companies on issues of importance to the American public, with Intel , Advanced Micro Devices , and Micron Technology all finishing within the top 10. Semiconductor firms ranked highly on this year's JUST 100 list, Whittaker said, not only due to the number of jobs that they created relative to other industries, "but the adoption and expansion of policies that support workers and communities." AMD also disclosed its minimum yearly salary for the first time as well as providing more information around career development and benefits, leading to a higher worker score.
Persons: outpacing FAANG, Martin Whittaker, Paul Tudor Jones, Whittaker, Russell Organizations: Semiconductor, Intel, Devices, Micron Technology, Apple, Microsoft, Nvidia, Qualcomm, Lam Research, Materials, Cirrus, Just, " Semiconductor, AMD, Capital
☆ Hewlett Packard Enterprise tops the 2024 JUST 100 list with market-leading worker benefits
  + stars: | 2024-02-05 | by ( Eric Rosenbaum | ) www.cnbc.com   time to read: +5 min
Antonio Neri, CEO, Hewlett Packard Enterprise, at the NYSE, Oct. 19, 2023 Source: NYSETechnology stocks have taken back the No. 1 spot in the JUST 100, an annual ranking of large public companies on issues of key importance to the American public, with Hewlett Packard Enterprise topping last year's No. Career advancement opportunities, worker training and development, benefits and retention are other issues which helped push HPE and other companies higher in the 2024 JUST 100 rankings. All of these issues, Whittaker said, "cluster all around the questions of 'How good am I as an employer?'" Whittaker said that's also the case with the key worker issues that are the most heavily weighted in the rankings.
Persons: Antonio Neri, HPE, Martin Whittaker, Paul Tudor Jones, It's, it's, Whittaker, Kristin Major, we've, Russell, Major, that's Organizations: Hewlett Packard Enterprise, NYSE, NYSE Technology, of America, Capital, Just, Just Capital, Apple, Microsoft, Citigroup, Elevance, Devices, Micron Technology
☆ India set to clock up to 8% GDP growth as it boosts manufacturing capacity, minister says
  + stars: | 2024-02-02 | by ( Charmaine Jacob | ) www.cnbc.com   time to read: +4 min
Workers assemble mobile phones at a Dixon Technologies factory in Noida, India, on Jan. 28, 2021. Bloomberg | Bloomberg | Getty ImagesIndia could clock up to 8% annual GDP growth for several years as it focuses on boosting its manufacturing capabilities, a key government minister told CNBC on Thursday. watch nowHe spoke extensively about the country's mobile manufacturing ecosystem, claiming that 99% of the phones used in India were made within the country. The country exported $11 billion mobile phones last year, and they are likely to rise to between $13 billion and $15 billion in 2024, Vaishnaw said. Apple 's presence in India has grown exponentially since it first started manufacturing in the country in 2017.
Persons: Vaishnaw, Narendra Modi's, Nirmala Sitharaman, CNBC's, Apple, OnePoll, Joe Biden, India's Modi, Narendra Modi, Modi, Mandel Ngan Organizations: Dixon Technologies, Bloomberg, Getty, CNBC, Union, Railways, Communications, Electronics, Technology, CNBC's Sri, Deloitte, India, Apple, Samsung, Micron, U.S, India's, White, Afp Locations: Noida, India, Delhi, Mumbai, Chennai, China, Washington ,
☆ ‘Substantial upside’: Morgan Stanley portfolio manager loves this memory stock — and it's among analysts' top picks for 2024
  + stars: | 2024-01-31 | by ( Amala Balakrishner | ) www.cnbc.com   time to read: +2 min
One investor, however, has set his sights on another company offering a "value angle" on both semiconductors and artificial intelligence. Micron makes dynamic random access memory chips and NAND flash memory chips. DRAM, or dynamic random access memory, is a type of semiconductor memory needed for data processing. Micron is the third-largest player in the memory sector, coming after just South Korea's SK Hynix and Samsung , he added. Wolfe Research said Micron will likely benefit from a strong recovery in 2025 in both the DRAM and NAND space.
Persons: Aaron Dunn, CNBC's, Dunn, Morgan Stanley, you've, Goldman Sachs, Wolfe Organizations: Nvidia, Google, Micron Technology, Micron, Morgan, Value, South Korea's SK Hynix, Samsung, MU, UBS, Bank of America, Wolfe Research Locations: Morgan Stanley's
☆ China's economy is facing a nightmarish Year of the Dragon
  + stars: | 2024-01-30 | by ( George Glover | ) www.businessinsider.com   time to read: +4 min
With the Year of the Dragon less than two weeks away, China's economy wobbled again on Monday. Fragile growthIn late 2022, China's Communist Party finally called time on its harsh zero-COVID measures — but the economy hasn't enjoyed the post-lockdown rebound many forecasters had predicted. DeflationFalling prices are another source of China's economic woes. AdvertisementNone of that speaks to a dedication to the free market — so China will likely keep struggling to attract more foreign investment in 2024. The sell-off reflects investor concern about the economy's overall health, as well as Chinese tech companies falling behind their US rivals in the development of AI.
Persons: wobbled, Linda Chan, Evergrande, Liquidators, hasn't, they'll, Li Qiang, John Kerry, Janet Yellen, Elon Musk, Xi Organizations: Hong, Business, China's Communist Party, World Bank, Tesla, Communist Party, Bain, Co, Big Tech, CSI Locations: Hong Kong, Evergrande, Beijing, China, Japan, Shanghai
☆ Here are Monday's biggest analyst calls: Nvidia, Netflix, Apple, Micron, Hershey, Dollar Tree, Qualcomm & more
  + stars: | 2024-01-29 | by ( Michael Bloom | ) www.cnbc.com   time to read: +8 min
JPMorgan upgrades Dollar Tree to overweight from neutral JPMorgan said in its upgrade of the stock that it's a "self-help" story. Bernstein upgrades Hershey to outperform from market perform Bernstein said in its upgrade of the chocolate maker that market share trends are improving. " Goldman Sachs reiterates Nvidia & Micron as buys Goldman said it's standing by shares of Nvidia and Micron. Bank of America upgrades ZoomInfo to buy from neutral Bank of America said the software company is a "self-help" story. Bernstein reiterates Qualcomm as outperform Bernstein said it's bullish heading into Qualcomm earnings later this week.
Persons: Wells, Jefferies, it's, Evercore, Bernstein, Hershey, Goldman Sachs, Goldman, Raymond James, Sherwin, Williams, Morgan Stanley, William Blair, Morgan Stanley downgrades Brown, Forman Organizations: UBS, Amazon, Amazon Web Services, Citi, Air, Deutsche Bank, TFI, Deutsche, JPMorgan, Warner Brothers Discovery, Microsoft, Meta, YouTube, Nvidia, Micron, MU, Netflix, Barclays, Apple, Colgate, Palmolive, " Bank of America, of America, Beam Therapeutics, Bank of America, Builders, Devices, AMD, Qualcomm Locations: Norfolk Southern, Atlanta
☆ This chip stock turnaround story should beat the market from here, according to the charts
  + stars: | 2024-01-22 | by ( Katie Stockton | ) www.cnbc.com   time to read: +7 min
—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.
Persons: Katie Stockton Organizations: Micron Technology, Inc, MU, Fairlead, CNBC Pro, Securities
☆ India goes big at Davos as world's most populous country tries to woo investors
  + stars: | 2024-01-18 | by ( Mackenzie Sigalos Ryan Browne | Mackenzie Sigalos | Ryan Browne | ) www.cnbc.com   time to read: +6 min
The hefty Davos promotions come after India surpassed China last year as the world's biggest country by population. Now India is touting its growing strength as a nation of innovation and as a global business hub in front of some of the world's richest and most powerful people. "As China's economy slows down, India's relatively rapid growth stands out as a clear opportunity for investors in Davos looking for bright spots." "We had an all-time revenue record in India," Apple CEO Tim Cook said on the company's latest earnings call in November, in response to an analyst's question about the company's momentum there. Hidary said Indian billionaire Mukesh Ambani's smartphone company Jio will serve about 600 million people in India through a $12 device.
Persons: There's, Ravi Agrawal, Agrawal, Narendra Modi, that's, Tim Cook, Apple Tim Cook, Punit Paranjpe, Jack Hidary, Hidary, Mukesh, Ambani Organizations: India Engagement, Wipro, Infosys, Tata, Foreign Policy, CNN, CNBC, World Bank, International Trade Administration, Visual, Bank of India, Dell, HP, Lenovo, Apple, AFP, Getty, India, AMD, Nvidia, Micron, WEF Locations: DAVOS, Switzerland, Davos, India, China, CNN India, Maharashtra, Tamil Nadu, Telangana, Karnataka, U.S, Mumbai, Bangalore, Gujarat
☆ Cramer's Lightning Round: Micron is a buy
  + stars: | 2024-01-18 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Marathon Digital's year-to-date stock performance. Stock Chart Icon Stock chart icon Barrick Gold's year-to-date stock performance. Stock Chart Icon Stock chart icon Caterpillar's year-to-date stock performance. Stock Chart Icon Stock chart icon U-Haul's year-to-date stock performance. Stock Chart Icon Stock chart icon Micron's year-to-date stock performance.
Persons: Electric's, Larry Culp, Genie Energy's Organizations: Barrick, Caterpillar, General, Genie Energy Locations: MARA, bitcoin, China
☆ This could be the next big investing trend in AI. How UBS says to play it
  + stars: | 2024-01-17 | by ( Samantha Subin | ) www.cnbc.com   time to read: +3 min
Edge AI, or AI at the edge, refers to the utilization of AI in edge computing, and its growth should have an immense effect on the technology world over the next few years. Given this outlook, Abrams named some of the top companies across technology sectors situated to benefit from AI at the edge. UBS projects more upside ahead, viewing both stocks among the top semiconductors as best situated to benefit from Edge AI. Memory chipmakers also look poised to benefit from Edge AI as devices on the edge require more computing power. But the company has been on the uptrend as demand rebounds, AI server demand booms and commercial customers begin deploying AI PCs later this year and into 2025.
Persons: Randy Abrams, Abrams, chipmakers, bode, Alibaba Organizations: UBS, Devices, Nvidia, AMD, Edge, Micron Technology, Micron, Dell, Microsoft, Arista Networks Locations: chipmakers
☆ Semiconductor stocks surged in 2023. Why investors may want to brace for volatility in the new year
  + stars: | 2024-01-16 | by ( Samantha Subin | ) www.cnbc.com   time to read: +6 min
Prepare for volatility in the semiconductor industry after an exuberant 2023 that saw prices surge and left many companies with lofty valuations. "Higher valuations in my experience lead to higher investor expectations and those higher investor expectations typically lead to higher volatility," said Michael Brenner of FBB Capital Partners . Computer chip stocks surged in 2023, largely due to enthusiasm surrounding the use of artificial intelligence and the need for advanced semiconductors. Bracing for volatility Semiconductor companies have a lot to prove in 2024 after wowing investors last year. KeyBanc Capital Markets' John Vinh said in a recent note to clients that auto industry semiconductor demand in the new year will benefit Analog Devices , NXP Semiconductors and On Semiconductor .
Persons: Michael Brenner, Capital's Paul Schatz, Sylvia Jablonski, Robert Pavlik, Brenner, FBB, Jensen Huang, Nvidia aren't, Schatz, Jablonski, Intel's, Ross Seymore, Seymore, Brenner isn't, John Vinh, bode, Vinh, Mizuho's Vijay Rakesh, — CNBC's Michael Bloom Organizations: FBB Capital Partners, iShares Semiconductor, Dakota Wealth, Nvidia, Broadcom, Micron Technology, Devices, Deutsche, Marvell Technology, Taiwan Semiconductor, Infineon, EV, KeyBanc, NXP Semiconductors, Semiconductor, Qualcomm, Lam Research
☆ 4 scientists said they're cutting back on bottled water after measuring the number of microplastics inside
  + stars: | 2024-01-08 | by ( Associated Press | ) www.businessinsider.com   time to read: +8 min
About 10 to 100 times more nanoplastics than microplastics were discovered in bottled water, the study found. AdvertisementScientists said they're cutting back on bottled waterThe inside of an optical box reveals the components that organize the light from laser beams to identify nanoplastics, microscopic plastic pieces. Related storiesAll four co-authors interviewed said they were cutting back on their bottled water use after they conduced the study. Wei Min, the Columbia physical chemist who pioneered the dual laser microscope technology, said he has reduced his bottled water use by half. Previous studies looking for microplastics and some early tests indicate there may be less nanoplastic in tap water than bottled.
Persons: Naixin Qian, Mary Conlon, —, Qian, Phoebe Stapleton, microplastics, Wei Min, Stapleton, Beizhan Yan, there's, Jason Somarelli, Somarelli, Zoie Diana, Diana, Min, Yan, Kara Lavender, Denise Hardesty, Louis Organizations: Service, Business, Columbia, Rutgers, National Academy of Sciences, micron, WalMart, Water Association, American Chemistry Council, United Nations Environment, Duke University, University of Toronto, Kara Lavender Law, Sea Education Association Locations: Columbia, New Jersey, Australian, Boston, St, Los Angeles
☆ Tech stocks dominated 2023 investing. Here's where the sector finds growth in 2024
  + stars: | 2023-12-31 | by ( Samantha Subin | ) www.cnbc.com   time to read: +11 min
After 2023's blowout run, it's hard to recall the once gloomy investing setup for technology stocks last December. As the calendar year turns, don't expect technology stocks to match 2023's blowout gains, but the year's performance is no fluke. AI stocks may dominate tech-focused investing, but don't sleep on the other emerging themes. GOOGL YTD mountain Alphabet shares in 2023 Both companies have rolled out new initiatives in the months since. Arm Holdings made headlines this year as one of the first major companies to go public , reviving the IPO market after a roughly two-year drought.
Persons: behemoths, Jay Woods, Mark Zuckerberg, didn't, chipmakers, David Waddell, Everybody's, Copilot, Paul Meeks, Gene Munster, Alphabet's, Meeks, Morgan Stanley, Andrew Slimmon, They're, Slimmon, CNBC's, Wall, Nvidia's, He's, Mahoney, Ken Mahoney, it's, Brent Fredberg, Munster's, Management's Albert Tsuei, Tsuei, William Blair's Jonathan Vo, Keith Weiss Organizations: Federal Reserve, Treasury, Freedom, Microsoft, Waddell & Associates, Oracle, Arista Networks, Morgan, Morgan Stanley Investment, Meta, Nvidia, Devices, Dell, Hewlett Packard Enterprises, Broadcom, Holdings, Micron Technology, Brandes Investment Partners, Micron, Samsung, Taiwan Semiconductor Manufacturing, MGM Resorts, Johnson, Okta, UBS, Management's, Palo Alto Networks, Palo Alto Locations: British, Clorox
☆ The Magnificent Seven stocks led 2023's market. Here's what the pros expect for 2024
  + stars: | 2023-12-24 | by ( Samantha Subin | ) www.cnbc.com   time to read: +5 min
Megacap technology stocks reascended the throne in 2023 after a debilitating 2022 left some investors sour on the outlook for the industry. The stocks are really going to have to show what the next big thing is." Even as it outperformed the market, the e-commerce giant's gains were overshadowed by other large megacaps flaunting their latest AI innovations, with some worrying Amazon may be falling behind on AI technology . Semiconductor companies Intel , Broadcom and Lam Research also look attractive even if Mag 7 stocks maintain their leadership position as AI proliferates, Woods said. "It's a story that is just starting to play out and we're just going to build on it going forward," he said.
Persons: Tesla, Jay Woods, hasn't, Capital's, Woods, aren't, DoorDash, Uber, Neuberger, Dan Flax, Bard, missteps, Gene Munster, Ken Mahoney, Richard Bernstein, wouldn't, Brent Fredberg, we're Organizations: Federal, Nvidia, Amazon, Apple, Microsoft, Meta, Tesla, Freedom Capital, Asset Management, Richard Bernstein Advisors, Brandes Investment Partners, outperformance, Micron Technology, Semiconductor, Intel, Broadcom, Lam Research Locations: GOOGL
☆ Inside Apple’s chip lab, home to the most ‘profound change’ at the company in decades
  + stars: | 2023-12-01 | by ( Katie Tarasov | ) www.cnbc.com   time to read: +13 min
Its most advanced silicon is primarily manufactured by one vendor, Taiwan Semiconductor Manufacturing Company. "We built what we call the unified memory architecture that is scalable across products," Srouji said. Apple's silicon team has grown to thousands of engineers working across labs all over the world, including in Israel, Germany, Austria, the U.K. and Japan. The primary type of chip Apple is developing is known as a system on a chip, or SoC. Apple's senior director of hardware validation Godfrey D'Souza shows off an M3 SoC in an Apple chip lab in Cupertino, California, on November 14, 2023.
Persons: John Ternus, Srouji, we're, Katie Tarasov, Andrew Evers, Ben Bajarin, Bajarin, Apple, Apple there's, Pro Max, Kaiann Drance, That's, who's, Ternus, Nvidia —, Tesla, Stacy Rasgon, Apple's, Godfrey D'Souza, Sydney, they've, Rasgon, Apple's Srouji, It's Organizations: AMD, MU, Apple Watch, U.S, Apple, Intel, Taiwan Semiconductor Manufacturing Company, Microsoft, CNBC, Apple's, Amazon, Google, Tesla, Semiconductor, Creative, Pro, Triple, MacBook Air, Qualcomm, Nvidia, Bernstein Research, Sydney Boyo, Bluetooth, Broadcom, Samsung, Micron, Thursday Apple Locations: Cupertino , California, Israel, Germany, Austria, Japan, Silicon Valley, San Diego, Austin , Texas, AirPods, Taiwan, China, Arizona, Peoria , Arizona, Asia, Europe, U.S
☆ US and India’s strengthening bond is weak on trust
  + stars: | 2023-11-30 | by ( Una Galani | ) www.reuters.com   time to read: +4 min
REUTERS/Kevin Lamarque Acquire Licensing RightsMUMBAI, Nov 30 (Reuters Breakingviews) - Trust between the United States and India is eroding. It says it will investigate security concerns aired by the United States. Trying that on the United States would be more consequential: Apple (AAPL.O) and Tesla (TSLA.O) are looking to build supply chains in the country, and the U.S. is the largest market for India’s people-heavy IT services companies. The United States and India may draw a quick line under the murder-for-hire episode, but it will sow a lasting seed of doubt in the relationship. Prosecutors did not name the Indian official.
Persons: Kevin Lamarque, soberly, ”, Justin Trudeau, Joe Biden, Narendra Modi, Saudi Arabia’s Crown Prince Mohammed bin Salman, Jamal Khashoggi, Nikhil Gupta, “, Arindam Bagchi, Neil Unmack, Oliver Taslic Organizations: White, REUTERS, Rights, Reuters, U.S . Department of Justice, U.S, Companies, Micron, General Electric Aerospace, Ottawa, Global, Saudi Arabia’s Crown, Indian, U.S . Justice, New, New York City, Prosecutors, “ Security Management, Thomson Locations: India, Washington , U.S, Rights MUMBAI, United States, Delhi, American, China, Asia, Canada, U.S, Vietnam, Saudi, Istanbul, Manhattan, New York
☆ ASML boss Wennink to retire in April; veteran Fouquet to step up
  + stars: | 2023-11-30 | by ( ) www.cnbc.com   time to read: +1 min
ASML Chief Executive Peter Wennink will retire at the end of his term next April to be replaced by company veteran Christophe Fouquet, the Dutch semiconductor equipment manufacturer said on Thursday. Fouquet, who has been with ASML for 15 years, has previously overseen its extreme ultraviolet (EUV) product lines, which now account for about half of the company's sales. EUV technology, was developed and commercialised by ASML, and is used by only a handful of manufacturers to make advanced chips. "Christophe's career is a clear example of natural evolution throughout the company," Wennink said. The company also announced that Chief Technology Officer Martin van den Brink will retire on April 24.
Persons: Peter Wennink, Christophe Fouquet, Wennink, Fouquet, Taiwan's, Martin van den Brink, Jim Koonmen Organizations: Nikon, Canon, Samsung, Intel, Micron, SK Hynix, Technology
☆ Micron sees first-quarter operating expenses above forecast, shares fall
  + stars: | 2023-11-28 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 28 (Reuters) - Micron Technology (MU.O) expects first-quarter operating expenses to be higher than its prior estimates, sending the memory chipmaker's shares down 3%, even as the company projected revenue to trend towards the upper-limit of its forecast. The company on Tuesday estimated adjusted operating expenses of about $990 million in the quarter ending Nov. 30, higher that its prior expectation of $900 million, plus or minus $15 million. The higher expenses are driven by the timing of R&D costs as well as asset sales, CEO Sanjay Mehrotra said at the UBS Global Technology Conference on Tuesday. Micron said it now expects revenue to approach $4.7 billion, compared with its previous estimate of $4.4 billion, plus or minus $200 million. It previously forecast loss of $1.07 per share, plus or minus 7 cents.
Persons: Aly, Sanjay Mehrotra, Matthew Bryson, Chavi Mehta, Krishna Chandra Eluri Organizations: Micron, REUTERS, Micron Technology, UBS Global Technology Conference, Wedbush Securities, Samsung Electronics, Thomson Locations: Shanghai, China, Bengaluru
☆ Wall St subdued as traders watch for policy cues from Fed speakers
  + stars: | 2023-11-28 | by ( Shristi Achar A Amruta Khandekar | Shristi Achar A | Amruta Khandekar | ) www.reuters.com   time to read: +3 min
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 20, 2023. Multiple Fed policy voting members are scheduled to speak during the day, including Board Governors Christopher Waller and Michelle Bowman. Murphy & Sylvest's Nolte said investors were "digesting very, very strong gains for the month of November," referring to the declines. Declining issues outnumbered advancers for a 1.92-to-1 ratio on the NYSE and for a 1.63-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Paul Nolte, Sylvest, Governors Christopher Waller, Michelle Bowman, Murphy, Sylvest's Nolte, advancers, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, billings Boeing, RBC, Nasdaq, Federal Reserve, Murphy, Governors, Reuters, Dow Jones, Micron Technology, RBC Capital Markets, PDD Holdings, NYSE, Thomson Locations: New York City, U.S, billings, Bengaluru
☆ Stock Market Today: Dow Opens Slightly Higher; PPD Stock, Gold Price in Focus
  + stars: | 2023-11-28 | by ( ) www.wsj.com   time to read: +1 min
But the IPO market is heating up: Fast-fashion giant Shein filed Monday for what could be one of the biggest market debuts in years. The S&P 500 and the Nasdaq Composite were modestly higher, while the Dow industrials rose 0.3%. Benchmark Treasury yields slipped. Oil prices rose. U.S. home prices rose in September.
Persons: Shein, Carlyle Organizations: OPEC, Nasdaq, Dow, Micron, Treasury, Brent
☆ Stocks making the biggest moves midday: PDD Holdings, Micron, Boeing, Twilio and more
  + stars: | 2023-11-28 | by ( Michelle Fox | ) www.cnbc.com   time to read: +3 min
Check out the companies making the biggest moves midday: PDD Holdings — U.S.-listed shares of the international ecommerce company jumped more than 18% after PDD posted a big earnings and revenue beat . PDD, the parent of Pinduoduo and Temu, reported a whopping 94% year-over-year increase in revenue for its third quarter. Micron Technology — Micron Technology's stock fell nearly 3% even after the memory chipmaker boosted its revenue guidance for its fiscal first-quarter. Twilio — The enterprise software stock jumped nearly 4% after CNBC reported activist investor Anson Funds has built a stake in Twilio. U.S. Steel — Shares added 1.7% in midday trading.
Persons: PDD, Ken Herbert, Twilio, Anson, Crocs, Raymond James, it's, CNBC's David Faber, Ogsiveo, Dow, Carlyle, Jefferies, nLight, Alex Harring, Samantha Subin, Lisa Han, Spencer Kimball, Jesse Pound Organizations: PDD Holdings —, Micron Technology, Micron, Boeing —, RBC Capital Markets, CNBC, . Steel, Steel, U.S . Steel, SpringWorks Therapeutics, Food and Drug Administration, Therapeutics, Carlyle, Dow Jones Indices, underperform Locations: Ireland, China, Twilio, Cleveland, United States
☆ Monday's analyst calls: Big pharma upgrade, top 'clean tech' play
  + stars: | 2023-11-27 | by ( Lisa Kailai Han Fred Imbert | Lisa Kailai Han | Fred Imbert | ) www.cnbc.com   time to read: +11 min
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