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☆ AMD shares rise as chipmaker sees data center strength cushioning PC slowdown
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

"We expect AMD's share gains to continue, as the company's upcoming, next-generation server CPUs are expected to outperform Intel’s lineup across price/performance metrics," YipitData analyst Nathaniel Harmon said. Reuters GraphicsThe PC industry, reeling from a downturn after its pandemic boom, pressured AMD's earnings and the company also lost market share there to Intel. A recovery in the business seems distant, with Chief Executive Lisa Su saying that AMD expects the PC market will decline by another 10% in 2023. Some analysts, however, said the company was undershipping products even in a weak market and could see some upside next year. Reporting by Akash Sriram and Chavi Mehta in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Our guide to semiconductor companies and how their chips run our everyday lives
▼ + stars: | 2022-11-01 | by ( Zev Fima | ) www.cnbc.com time to read: +17 min

Semiconductor companies are also in the news a lot lately, whether it's the U.S. government cracking down on chip exports to China or innovations in connected cars and artificial intelligence. Since these companies don't need to invest in expensive fabrication facilities, they can run a more agile asset-light business model. Memory : The two main categories of memory chips are NAND and DRAM. Examples include those used for 5G, WiFi, Bluetooth, radiofrequency chips, near field communication chips (NFC), application-specific integrated circuit chips (ASICs), and so on. These chips are made by companies like Qualcomm, Marvell Technology, Broadcom (AVGO), ON Semiconductor, NXP Semiconductor (NXPI), and others.

☆ Intel's Mobileye unit valued at $22 bln as shares cruise higher
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +3 min

The debut comes after a turbulent period when Mobileye settled for merely a third of the $50 billion valuation it was targeting earlier in its IPO. But there was a lot of value in gaining that public company platform now,” said Dan Galves, chief communications officer at Mobileye. Galves added it is important for Mobileye to generate product visibility now as that filters back to customers. Before being acquired by chipmaker Intel in a $15.3 billion deal in 2017, Mobileye had been listed on the New York Stock Exchange since 2014. Mobileye develops autonomous driving technologies and competes with Alphabet Inc's (GOOGL.O) Waymo, General Motors Co's (GM.N) Cruise and other automakers who have moved to design in-house driving assistance technology.

Goldman Sachs Group Inc (GS.N) gained 2.5% after reporting a smaller-than-expected drop in quarterly profit due to a slowdown in investment banking, which was cushioned by a boost in net interest income. If I had to guess, this is more of a short-term bear market rally, and we'll see more volatility in the weeks ahead." Netflix (NFLX.O) slid 1.7% ahead of its earnings report after markets close, with all eyes on the video-streaming company's subscriber growth, which is seen falling in the third quarter. Advancing issues outnumbered decliners by a 2.70-to-1 ratio on the NYSE and by a 2.05-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and two new lows, while the Nasdaq recorded 58 new highs and 66 new lows.

☆ Oracle Cloud adding tens of thousands of Nvidia chips for AI
▼ + stars: | 2022-10-18 | by ( Jane Lanhee Lee | Juliette Portala | ) www.reuters.com time to read: +2 min

OAKLAND, Calif., Oct 18 (Reuters) - Oracle Corp (ORCL.N) and Nvidia Corp (NVDA.O) on Tuesday announced they are expanding their partnership and adding tens of thousands of Nvidia’s chips to boost artificial intelligence- related computational work in Oracle’s cloud. The expanded partnership comes as more companies use AI and the AI models become more complex, requiring a ramp-up in data center infrastructure investments. Chips that help accelerate computing speed include GPUs and are heavily used in AI work where Nvidia has the lion's share. While there are many AI chip startups challenging Nvidia, Clay Magouyrk, who is in charge of Oracle Cloud Infrastructure, said he does not see much of an opening for the newcomers. Manuvir Das, who is in charge of enterprise computing at Nvidia, said the Oracle partnership includes increased cooperation to make the AI software run more efficiently on Oracle Cloud and to provide more support to Oracle’s customers.

With this, Goldman Sachs wraps up earnings reports from big U.S. banks this quarter on a largely positive note. "A better-than-feared earnings season may well be the catalyst the market needs to see a break in the steady grind lower." Netflix (NFLX.O) added 2.4% ahead of reporting its earnings after markets close. The reversal of parts of a controversial UK fiscal plan that had roiled bond markets also aided sentiment. Toymaker Hasbro Inc (HAS.O) fell 1.3% upon posting a 28% fall in quarterly profit, highlighting that inflation-hit consumers were further discouraged by price hikes.

Johnson & Johnson (JNJ.N) rose 1.5% in premarket trading after the healthcare conglomerate beat Wall Street expectations for third-quarter sales, helped by strong demand for its cancer drug Darzalex and Crohn's disease drug Stelara. read moreGoldman Sachs Group Inc (GS.N) gained 0.9%, while Netflix (NFLX.O) added 1.6% ahead of earnings later in the day. read moreThe reversal of parts of a controversial UK fiscal plan that had roiled bond markets also aided sentiment. read more"Initial Q3 company reports have been positive, and you've had some stabilization in the United Kingdom with its government. ET, Dow e-minis were up 340 points, or 1.12%, S&P 500 e-minis were up 50.25 points, or 1.36%, and Nasdaq 100 e-minis were up 179.75 points, or 1.62%.

read moreAnalysts now expect profit for S&P 500 companies to have risen just 2.8% from a year ago, much lower than an 11.1% increase expected at the start of July, according to Refinitiv data. All the 11 major S&P 500 sector indexes rose, with cyclical financials (.SPSY) and materials (.SPLRCM) rising 2% each. The S&P 500 banks index (.SPXBK) was up 2.81%. Advancing issues outnumbered decliners by a 8.42-to-1 ratio on the NYSE and by a 5.40-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and one new low, while the Nasdaq recorded 45 new highs and 24 new lows.

The spin-out structure would make it easier and faster for Kroger and Albertsons to divest stores if they cannot easily sell them outright, people familiar with the arrangement said. The companies may struggle to find many buyers because Albertsons' stores are unionized, making them less attractive to potential bidders such as private equity firms. Kroger and Albertsons are likely to shed their least profitable stores and keep the best ones to themselves, analysts said. That region contains the most store-overlap between Kroger and Albertsons and is where divestitures are most likely, according to analysts. They intend for the spun-off company to not carry any debt, the sources added.

☆ Taiwan touts $900 mln in new business from Silicon Valley meetings
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +2 min

Taiwan Economy Minister Wang Mei-hua speaks during an interview with Reuters in Taipei, Taiwan, September 30, 2021. REUTERS/Ann WangTAIPEI, Oct 15 (Reuters) - Taiwan's economy minister has drummed up new business worth T$30 billion ($940 million) in meetings with top executives at four major tech firms in California's Silicon Valley, the ministry said on Saturday. Taiwan is a major semiconductor producer, home to the world's largest contract chip maker, Taiwan Semiconductor Manufacturing Corp (2330.TW), , and supplies most the world's major tech firms. "The visits are expected to bring back U.S. research and development investment and orders in Taiwan worth more than T$30 billion," it said, without elaborating. Wang said on Tuesday that if Taiwan remains safe, global supply chains of vital semiconductors would also be secure.

☆ Futures tick down ahead of big bank earnings, retail sales data
▼ + stars: | 2022-10-14 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The lenders are set to report their earnings later in the day. "The size of these provisions will be the clearest indication of the scope of the consumer crisis that's expected in the coming quarter." ET, Dow e-minis were down 49 points, or 0.16%, S&P 500 e-minis were down 7.25 points, or 0.2%, and Nasdaq 100 e-minis were down 39.5 points, or 0.36%. Apart from banks' earnings, U.S. retail sales data at 8:30 am ET is also on investors' radar to get clues on demand as the Federal Reserve aggressively raises rates to fight inflation. However, by close, Wall Street dramatically rebounded from the selloff, advancing over 2% helped by technical support and investors covering short bets.

The headline consumer price index gained at an annual pace of 8.2% in September, compared with an estimated 8.1% rise. read moreCore CPI, which eliminates volatile food and fuel prices, gained 6.6% last month, compared with the estimates of a 6.5% increase. "We would have hoped to see some moderation in inflation and we're not seeing that at this point. read moreDeclining issues outnumbered advancers for a 4.89-to-1 ratio on the NYSE and for a 3.39-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and 170 new lows, while the Nasdaq recorded 10 new highs and 514 new lows.

The headline consumer price index gained at an annual pace of 8.2% in September, compared with an estimated 8.1%. Core CPI, which eliminates volatile food and fuel prices, gained 6.6% last month, compared with the estimates of a 6.5% increase. Register now for FREE unlimited access to Reuters.com Register"It's saying that inflation is still not under control. The Fed will most likely continue its pace of rate increases," said Robert Pavlik, senior portfolio manager, Dakota Wealth in Fairfield, Connecticut. FEDWATCHThe report follows data on Wednesday that showed U.S. producer prices increased more than expected in September amid strong gains in the costs of services and goods, suggesting inflation could remain uncomfortably high for a while.

The Labor Department's consumer prices index (CPI) report, due at 8:30 am ET, will likely show headline CPI to have gained at an annual pace of 8.1% in September, lower than an 8.3% increase in August, according to a Reuters poll. However, the core CPI, which eliminates volatile food and fuel prices, is estimated to have risen 6.5% last month, up from a 6.3% rise in August. The report follows data on Wednesday that showed U.S. producer prices increased more than expected in September amid strong gains in the costs of services and goods, suggesting inflation could remain uncomfortably high for a while. ET, Dow e-minis were up 152 points, or 0.52%, S&P 500 e-minis were up 20.25 points, or 0.56%, and Nasdaq 100 e-minis were up 35.25 points, or 0.33%. Also on tap is a report that is expected to show 225,000 Americans filed for unemployment benefits last week, up from 219,000 in the week prior to that.

☆ Futures jittery ahead of U.S. CPI data
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

Consumer prices data due at 8:30 am ET will be closely watched for clues on how the central bank will proceed with its monetary policy tightening. The headline CPI is expected to have gained at an annual pace of 8.1% in September, decelerating from August's 8.3% rise, according to a Reuters poll. ET, Dow e-minis were up 86 points, or 0.29%, S&P 500 e-minis were up 9.25 points, or 0.26%, and Nasdaq 100 e-minis were up 12 points, or 0.11%. Investors also awaited quarterly earnings reports from BlackRock (BLK.N), Domino's Pizza (DPZ.N), Walgreens Boots Alliance and Delta Air Lines (DAL.N). read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

SummarySummary Companies U.S. producer prices rise more than expected in SeptemberFOMC September meet minutes due at 2 p.m. The Labor Department's producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. In the afternoon, investors will scrutinize the Fed's September meeting minutes for more clarity on the central bank's rate hike trajectory. Investors also await the highly-anticipated consumer prices report on Thursday, which is expected to have picked up in September. Declining issues outnumbered advancers for a 1.45-to-1 ratio on the NYSE and advancers for a 1.22-to-1 ratio on the Nasdaq.

The Labor Department's producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. Register now for FREE unlimited access to Reuters.com Register"It is not going to be that way. That's what the Fed has been looking at and that's why they're raising rates the way they are. Persistent inflation has sparked worries about the Fed's aggressive monetary action tipping the world's largest economy into a recession. ET, Dow e-minis were up 46 points, or 0.16%, S&P 500 e-minis were up 10.25 points, or 0.28%, and Nasdaq 100 e-minis were up 41.25 points, or 0.38%.

The bounce follows five straight days of declines in the Nasdaq (.IXIC) and the benchmark S&P 500 (.SPX) as recent economic data nearly sealed a case for a fourth consecutive 75-basis-point hike by the Fed. The Labor Department's producer prices index data due at 8:30 a.m. ET is expected to have risen 8.4% in the 12 months through September, after advancing 8.7% in August. Register now for FREE unlimited access to Reuters.com RegisterStubborn inflation has sparked worries about the Fed's aggressive monetary action tipping the world's largest economy into a recession. ET, Dow e-minis were up 118 points, or 0.4%, S&P 500 e-minis were up 20.5 points, or 0.57%, and Nasdaq 100 e-minis were up 85.25 points, or 0.79%.

The Labor Department's producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. read morePersistent inflation has increased concerns about the Fed's aggressive monetary action tipping the world's largest economy into a recession. That's what the Fed has been looking at and that's why they're raising rates the way they are. Declining issues outnumbered advancers for a 1.74-to-1 ratio on the NYSE and for a 1.47-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and 41 new lows, while the Nasdaq recorded 7 new highs and 201 new lows.

☆ Wall St futures rise with focus on inflation data, Fed minutes
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

The producer price index, an important inflation gauge, is expected to have risen 8.4% in the 12 months through September, after advancing 8.7% in August, according a Reuters poll. Register now for FREE unlimited access to Reuters.com RegisterMinutes from the Federal Open Market Committee meeting, which was held last month, will be released later in the day. Megacap companies Tesla Inc (TSLA.O) and Apple Inc (AAPL.O) added 0.8% each in premarket trading. ET, Dow e-minis were up 165 points, or 0.56%, S&P 500 e-minis were up 23.75 points, or 0.66%, and Nasdaq 100 e-minis were up 89.25 points, or 0.82%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Nasdaq registers lowest close since July 2020; chips stocks fall
▼ + stars: | 2022-10-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

People are worried about a possible recession," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. Analyst now expect year-over-year earnings for S&P 500 companies to have risen 4.1% in the quarter, compared with an increase of 11.1% expected at the beginning of July, according to IBES data from Refinitiv. S&P 500 technology (.SPLRCT) led sector declines along with energy (.SPNY). Declining issues outnumbered advancing ones on the NYSE by a 2.43-to-1 ratio; on Nasdaq, a 1.79-to-1 ratio favored decliners. The S&P 500 posted 1 new 52-week highs and 73 new lows; the Nasdaq Composite recorded 58 new highs and 461 new lows.

☆ Wall Street falls with tech shares, investors assess rate outlook
▼ + stars: | 2022-10-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

read moreRegister now for FREE unlimited access to Reuters.com Register"People are worried about the economy. People are worried about a possible recession," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. The U.S. third-quarter earnings season is set to kick off on Friday, with results from some of the major banks. The Dow Jones Industrial Average (.DJI) fell 41.55 points, or 0.14%, to 29,255.24, the S&P 500 (.SPX) lost 23.05 points, or 0.63%, to 3,616.61 and the Nasdaq Composite (.IXIC) dropped 95.65 points, or 0.9%, to 10,556.75. Investors also awaited inflation reports through the week, including consumer prices data, which is expected to have likely risen last month.

Register now for FREE unlimited access to Reuters.com RegisterMajor U.S. banks are set to kick off the third-quarter earnings season in earnest on Friday, amid anxiety about the impact of inflationary pressures, rising interest rates and geopolitical uncertainties on their profit. Chicago Fed President Charles Evans on Monday joined the chorus of other central bankers backing the Fed's attempt to lower inflation without a sharp rise in unemployment even as it continues raising interest rates. read more read moreAt 9:53 a.m. Tech behemoths Apple Inc (AAPL.O) and Microsoft Corp (MSFT.O) fell 0.9% and 1.5%, respectively, weighing down the S&P 500 technology sector index (.SPLRCT). The S&P index recorded one new 52-week high and 22 new lows, while the Nasdaq recorded 33 new highs and 200 new lows.

☆ China tech shares sink as U.S. export curbs raise chip sector hurdles
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

The most immediate impact is likely to be felt by Chinese chipmakers, they said. The new regulations will now pose major hurdles for the two Chinese memory chipmakers, analysts said. A steep decline in tech shares led China's market down on its first post-Golden Week holiday trading on Monday. An index measuring China's semiconductor firms (.CSIH30184) tumbled nearly 7%, and Shanghai's tech-focused board STAR Market (.STAR50) declined 4.5%. SMIC dropped 4%, chip equipment maker NAURA Technology Group Co (002371.SZ) sank 10% by the daily limit, and Hua Hong Semiconductor plunged 9.5%.

☆ U.S. aims to hobble China’s chip industry with sweeping new export rules
▼ + stars: | 2022-10-07 | by ( ) www.nbcnews.com time to read: +4 min

The raft of measures could amount to the biggest shift in U.S. policy toward shipping technology to China since the 1990s. If effective, they could set China’s chip manufacturing industry back years by forcing American and foreign companies that use U.S. technology to cut off support for some of China’s leading factories and chip designers. On Friday, the Biden administration applied the expanded restrictions to China’s IFLYTEK, Dahua Technology, and Megvii Technology, companies added to the entity list in 2019 over allegations they aided Beijing in the suppression of its Uigher minority group. The “unverified list” is a potential stepping stone to tougher economic blacklists, but companies that comply with U.S. inspection rules can come off the list. On Friday, U.S. officials removed nine such firms, including China’s Wuxi Biologics, which makes ingredients for AstraZeneca’s Covid-19 vaccine.

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