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☆ Morning Bid: Stumbling away
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] A general view shows the trading floor at the stock exchange reflected in a window of the visitors terrace in Frankfurt, Germany October 2, 2017. Reuters GraphicsIn contrast, European chipmaker STMicroelectronics cited strong demand from automotive and industrial customers on Thursday as it beat earnings and sales targets. Reuters GraphicsBefore next week's central bank meetings (that's Fed, ECB and BOE on the deck) take all of investors' attention, the focus on Friday will be on the Fed's preferred inflation gauge, the personal consumption expenditures (PCE) data. The core PCE price index is expected to rise 0.3% in December, according to Reuters poll of economists. Key developments that could influence markets on Friday:Economic events: Sweden unemployment rate for December, Spain Q4 GDP data and core U.S. PCE dataReporting by Ankur Banerjee; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ European shares gain on earnings optimism
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

Jan 26 (Reuters) - European shares gained on Thursday as upbeat quarterly results from STMicroelectronics, Sabadell and Nokia eased worries over the corporate earnings season amid signs of a recession. The pan-European STOXX 600 (.STOXX) rose 0.6% at 0835 GMT, with technology (.SX8P) and financial services (.SXFP) stocks leading gains. Spanish lender Sabadell (SABE.MC) gained 8.8% following the management's upbeat commentary on 2024 net interest income despite a fall in fourth-quarter net profit. Nokia (NOKIA.HE) rose 5.5% after the Finnish telecom equipment maker beat quarterly operating profit expectations and forecast higher 2023 sales. Reporting by Ankika Biswas in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ STMicroelectronics posts fourth-quarter sales rise
▼ + stars: | 2023-01-26 | by ( Martin Coulter | ) www.reuters.com time to read: +1 min

LONDON, Jan 26 (Reuters) - European chipmaker STMicroelectronics on Thursday beat fourth-quarter sales expectations, despite challenging economic conditions, benefiting from strong customer demand. Net revenue rose to $4.42 billon from $4.32 billion the previous quarter. Analysts had on average expected sales of $4.32 billion, IBES data from Refinitiv Eikon showed. Citing strong demand and increased manufacturing capacity, Chery said the company expects full-year revenue of $16.8 billion to $17.8 billion. The company has previously targeted full-year revenue of $20 billion by 2027.

☆ Morning Bid: Heading for a soft landing?
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

Things are not as bad as some had feared, with the region's prospects boosted by China's reopening, an unexpectedly mild winter and resilient activity data. These hopes have lifted the pan-European STOXX 600 index (.STOXX), which is up 6.4% for the month and is set for its best January performance since 2015. Investors' focus is on next week's set of central bank meetings as the U.S. Federal Reserve, European Central Bank and Bank of England decide on their rate-hike paths. Share price performance, earnings and sales for TeslaKey developments that could influence markets on Thursday:Economic events: Sweden's consumer confidence data for January, U.S. GDP data. Earnings: LVMH, Nokia, STMicroelectronics, Diageo and Volvo in Europe; Blackstone, Mastercard, Southwest Airlines, Intel, and Visa among others in United States.

☆ Morning bid: Parsing the peak, sidestepping a slump
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +4 min

"We are turning the corner on inflation," BoC Governor Tiff Macklem told reporters, while dismissing any thought of policy easing for now. Just how bad the underlying economy gets before the central banks are done is the other burning question. On the activity side, the prospect of reviving growth in China and the euro zone certainly changes the international picture. In Europe, STMicroelectronics jumped 8% after the chipmaker reported a sales beat and Finnish telecom equipment maker Nokia jumped 5% after its own beat. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Get ready for a deluge of data next week that will shape the Fed's next moves
▼ + stars: | 2023-01-21 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Within the portfolio, we'll get the latest earnings from Danaher (DHR), Halliburton (HAL), and Johnson & Johnson (JNJ) on Tuesday before the opening bell. While the results will be important as always, we are most interested in the earnings call with analysts and investors. Housing Starts fell 1.4% in December to a seasonally adjusted annual rate of 1.38 million, slightly above the 1.36 million expected. Building permits dropped 1.6% in December to a seasonally adjusted annual rate of 1.33 million, below expectations of 1.37 million. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Bank of America says 2 global chip stocks could rise by 75% on EV car sales
▼ + stars: | 2022-12-08 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The shortage of semiconductors during a boom in electric vehicle sales could help raise profits at a handful of chip makers, according to Bank of America. The investment bank said shares of U.S.-listed European chip maker STMicroelectronics and Japan's Renesas Electronics could rise by more than 75% over the next year on that trend. Although global automotive sales are expected to rise by just 3-4% over the next two years, the transition to EV cars means chip sales are set to grow by 7-9% year after year for the next two years, the Wall Street bank said. The company said auto revenues grew 44% in 2021 due to chip sales for in-car connectivity devices. Other chip stocks set to benefit from the trend to EV vehicles include U.S.-based companies Marvell , Microchip , Nvidia and Ambarella , Wolfspeed , and Onsemi , as well as European semiconductor manufacturers NXP and Soitec .

☆ Death of the internal combustion engine — Cowen's best stocks to play the trend
▼ + stars: | 2022-12-04 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

For more than 100 years, automobiles have been powered by internal combustion engines. Yet around the globe, consumers are slowly shifting to electric-powered vehicles and countries are putting bans of ICE-based engines into place. This disruption in the mobility space also includes automation, like driverless cars and advanced driver assistance systems (ADAS) applications. Cowen said the company is "well positioned in the growing electrical architecture space as well as with electronic and safety applications." "Deep experience designing purpose-built SoCs [system-on-chip applications] and a decade+ of real world driving data support its positioning," the report said.

☆ STMicro, Soitec deepen cooperation over fast-growing semiconductor material
▼ + stars: | 2022-12-01 | by ( Mathieu Rosemain | ) www.reuters.com time to read: +2 min

PARIS, Dec 1 (Reuters) - French semiconductor materials supplier Soitec (SOIT.PA) and chipmaker STMicroelectronics said on Thursday they were deepening their cooperation over the manufacturing of a key and fast-growing material used in the electric car industry. The material, silicon carbide (SiC), is used to make a growing number of chips that improve the power management of electric vehicles. Under the enhanced cooperation, STMicro, whose biggest clients include EV maker Tesla Inc (TSLA.O), agreed to use Soitec's SiC substrate technology, in the form of a bigger, 200 millimetre wafer which is upcoming, the two companies said in a statement. While not exclusive, the Soitec-STMicro cooperation gives STMicro a time advantage in the adoption of the technology. STMicro is aiming to sell $700 million worth of SiC chips this year and is targeting $1 billion in 2023, it has said.

☆ European stocks slip ahead of ECB decision, Credit Suisse drops on turnaround plans
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +1 min

Oct 27 (Reuters) - European shares opened lower on Thursday, as investors were cautious ahead of a widely expected interest rate hike from the European Central Bank, while Credit Suisse tumbled after the embattled Swiss bank unveiled restructuring plans. The pan-European STOXX 600 index (.STOXX) slipped 0.3%, after closing at a five-week high on Wednesday. read moreThe lender's stock, among the top decliners on the STOXX 600 index, hit a two-week low. read moreAmong other stocks, Neste (NESTE.HE) tumbled 7.2%, after the Finnish refiner posted weaker-than-expected third-quarter operating results. read more($1 = 0.9873 Swiss francs)Reporting by Sruthi Shankar in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Chipmaker STMicro sees sales growth slowdown in fourth quarter
▼ + stars: | 2022-10-27 | by ( Mathieu Rosemain | ) www.reuters.com time to read: +2 min

Bigger rival Texas Instruments Inc (TXN.O) earlier this week that it expected demand across most of its end markets to decline, while South Korea's SK Hynix Inc (000660.KS) warned of an "unprecedented deterioration" in memory chip demand. STMicro said it expected fourth-quarter sales to edge up by 1.8% from the previous quarter to about $4.4 billion. Co-controlled by the Italian and French governments, STMicro said demand rose across all its products in the third quarter, beating market expectations. Net revenue in the third quarter rose to $4.32 billion, above the company's own guidance and the $4.24 billion analyst consensus compiled by Visible Alpha. Reporting by Mathieu Rosemain; Editing by Muralikumar Anantharaman, Subhranshu Sahu and Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Oct 25 (Reuters) - Apple Inc (AAPL.O) said on Tuesday it would make fresh investments to set up solar and wind projects in Europe and called on its suppliers to decarbonize operations related to the production of iPhones and other products. Apple had previously asked suppliers to commit to 100% renewable energy for Apple's production. Apple has been carbon neutral for its global corporate operations since 2020. Apple said the European investments are part of a strategy to address about 22% of its carbon footprint coming from the electricity customers use to charge their devices. In total, the planned investments will add 3,000 gigawatt hours per year of new renewable energy on the grid, Apple said.

The iPhone 14, iPhone 14 Pro and iPhone 14 Pro Max are displayed at the Apple Fifth Avenue store, in Manhattan, New York City U.S. September 16, 2022. Analysts said iPhone 14's Pro and Pro Max versions were selling at a brisk pace, although demand for the base model, typically Apple's best seller, was underwhelming. Apart from satellite connectivity and crash detection features, the iPhone 14 model looks and feels similar to its previous iteration, although it sells for $100 more at $799 for the base version. Prospective iPhone 14 buyers may opt for iPhone 13, given the hefty discount on the older model, said Abhilash Kumar of data research firm Strategy Analytics. Shares of Apple suppliers Qualcomm (QCOM.O), Taiwan Semiconductor , STMicroelectronics , Infineon (IFXGn.DE) and ASML (ASML.AS) were also trading lower on the news.

☆ Apple worsens selloff in beleaguered growth stocks
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +2 min

Sept 28 (Reuters) - Apple Inc shares (AAPL.O) fell 4% in premarket trading on Wednesday and piled pressure on other growth stocks following a report that the tech giant was dropping its plans to boost production of the latest model of its flagship iPhone. Register now for FREE unlimited access to Reuters.com RegisterOther growth stocks including Microsoft Corp , Amazon.com , Google-parent Alphabet and Tesla Inc (TSLA.O) fell between 1.5% and 3% on the news. "Apple is not immune to that and it's probably symptomatic of what's happening across many different companies right now." The rate-sensitive growth stocks have taken a beating this year on the U.S. Federal Reserve's rapid pace of interest rate hikes. The S&P 500 growth index (.IGX) has shed 29% this year, compared with a 17% slide in its value (.IVX) counterpart.

The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. A spokesperson for Intel did not comment as negotiations are ongoing and confidential. Among other reasons, the site is well connected with Germany and in particular with the city of Magdeburg, where Intel will build two factories, one of the sources added. Intel and the government had also initially considered sites in the Lombardy, Apulia and Sicily regions. The sources declined to provide further details, but Reuters has previously reported that Rome is ready to fund as much as 40% of Intel's total investment in Italy.

The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. Intel's investment in Italy is part of a wider plan announced by the U.S. chipmaker last March to invest as much as 80 billion euros ($77.5 billion) over the next decade in building capacity across Europe. A spokesperson for Intel did not comment as negotiations are ongoing and confidential. Intel and the government had also initially considered sites in the Lombardy, Apulia and Sicily regions. The sources declined to provide further details, but Reuters has previously reported that Rome is ready to fund as much as 40% of Intel's total investment in Italy.

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