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☆ Teradyne beats results estimates as AI boom supports chip demand
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Chip-testing machines maker Teradyne (TER.O) on Wednesday surpassed estimates for sales and profit in the second quarter, helped by growing demand for semiconductors that power artificial intelligence (AI) technology. Higher shipments in Teradyne's core semiconductor-test segment more than offset weaker robotics demand, said Teradyne CEO Greg Smith. For the current quarter, strong demand is seen from data center and automotive end-markets while order rates in robotics may decline, the company said. The boom in demand for AI capabilities have benefited companies in the chip supply chain, softening the impact from a post-pandemic downturn in sales of personal computers and smartphones. The company earned 79 cents per share on an adjusted basis, higher than estimates of 66 cents.

Persons: Greg Smith, Zaheer Kachwala, Yuvraj Malik, Devika Organizations: chipmaker Taiwan Semiconductor Manufacturing, Qualcomm, Samsung, Revenue, Thomson Locations: bengaluru

☆ Taiwan TSMC: Plans to invest $2.9 billion in new plant as demand for AI chips soars
▼ + stars: | 2023-07-25 | by ( Juliana Liu | ) edition.cnn.com time to read: +1 min

Hong Kong CNN —TSMC, the world’s largest chipmaker, says it plans to invest nearly 90 billion New Taiwan dollars ($2.9 billion) to build an advanced chip plant in Taiwan, as it expands production to meet booming demand for artificial intelligence (AI) products. Wei told analysts the company plans to roughly double its capacity for advanced packaging capacity in 2024 compared to 2023, in order to meet “strong demand” for AI chips from its customers, which include Nvidia (NVDA) and AMD (DOX). Advanced packaging in the semiconductor industry involves using high-tech methods to aggregate components from various wafers in order to create a more powerful computer chip. That’s the kind of AI underlying ChatGPT, Google (GOOGL)’s Bard, Dall-E and many of the other new AI technologies. TSMC is considered a national treasure in Taiwan, supplying semiconductors to global tech giants including Apple (AAPL) and Qualcomm (QCOM).

Persons: Hong Kong CNN — TSMC, C.C, Wei, “, TSMC, Dall Organizations: Hong Kong CNN, Nvidia, AMD, CNN, TSMC, Google, Apple, Qualcomm Locations: Hong Kong, Taiwan, Miaoli County, Hsinchu, Taipei, TSMC

☆ Stellantis inks $11bln in contracts for vital semiconductors by 2030
▼ + stars: | 2023-07-18 | by ( Nick Carey | ) www.reuters.com time to read: +1 min

LONDON, July 18 (Reuters) - Stellantis (STLAM.MI) said on Tuesday that it has signed contracts worth 10 billion euros ($11.2 billion) through 2030 with semiconductor makers to guarantee the flow of vital chips for electric vehicles and high-performance computing functions. The global auto industry is only now recovering from a pandemic-fueled shortage of semiconductor chips that forced major automakers to shut down production on certain models and scramble to find new sources of chips. "We have hundreds of very different semiconductors in our cars," Maxime Picat, Stellantis' chief purchasing and supply chain officer said in a statement. Stellantis said it is also working with chipmakers Infineon (IFXGn.DE), NXP Semiconductors (NXPI.O), onsemi (ON.O), and Qualcomm (QCOM.O) to further improve its car platforms and technologies. 3 carmaker said that its new supply agreements through 2030 cover silicon carbide chips that extend the range of EVs, computing chips to operate EVs and high-performance computing chips that will provide infotainment and autonomous driving assist functions.

Persons: Maxime Picat, Stellantis, carmaker, Nick Carey, Sharon Singleton Organizations: chipmakers Infineon, NXP Semiconductors, Qualcomm, Thomson

WASHINGTON, July 17 (Reuters) - U.S. chip company executives met with top Biden administration officials on Monday to discuss China policy, the State Department and sources said, as the most powerful semiconductor lobby group urged a halt to more curbs under consideration. Secretary of State Antony Blinken talked with chip company chief executives about the industry and supply chains after his recent trip to China, a department spokesperson told reporters. The chip industry is keen to protect its profits in China as the Biden administration considers another round of restrictions on chip exports to China. Last year, China accounted for $180 billion in semiconductor purchases, more than a third the worldwide total of $555.9 billion and the largest single market, according to Semiconductor Industry Association (SIA). The Biden administration is considering updating a sweeping set of rules imposed in October to hobble China's chip industry and a new executive order restricting some outbound investment.

Persons: Antony Blinken, Gina Raimondo, Lael Brainard, Jake Sullivan, Biden, Blinken, Matthew Miller, Commerce's Raimondo, Washington, hobble, Pat Gelsinger, David Shepardson, Andrea Shalal, Simon Lewis, Stephen Nellis, Chris Sanders, Susan Heavey, Matthew Lewis, Nick Zieminski Organizations: Biden, State Department, National Economic, National Security, Intel, Qualcomm, Nvidia, Reuters, Semiconductor Industry Association, SIA, Department, White, Commerce Department, Huawei Technology Co, San, Thomson Locations: China, U.S, Washington, San Francisco

The chip industry is keen to protect its profits in China as the Biden administration considers another round of restrictions on chip exports to China. The Biden administration is considering updating a sweeping set of rules imposed in October to hobble China's chip industry and a new executive order restricting some outbound investment. Not every official is expected to meet with every company, the source who spoke on condition of anonymity added. Further rule-tightening by U.S. officials risks "disrupting supply chains, causing significant market uncertainty, and prompting continued escalatory retaliation by China," the industry group said. "The availability of Gaudi2 in China continues Intel’s nearly 40-year history of delivering innovative yet legally-compliant products to this key growth market," Intel said in a statement.

Persons: Antony Blinken, Gina Raimondo, Lael Brainard, Jake Sullivan, Biden, Matthew Miller, chafed, hobble, Blinken, Pat Gelsinger, Raimondo, David Shepardson, Andrea Shalal, Simon Lewis, Stephen Nellis, Susan Heavey, Matthew Lewis, Nick Zieminski Organizations: Biden, National Economic, National Security, Intel, Qualcomm, Nvidia, Semiconductor Industry Association, SIA, Department, Administration, White, Reuters, Commerce Department, U.S, Huawei Technology Co, San, Thomson Locations: China, U.S, Washington, Intel’s, San Francisco

☆ Biden administration holding meetings with chips companies, source says
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, July 17 (Reuters) - The chief executives of U.S. chip companies are holding meetings with Commerce Secretary Gina Raimondo and key White House officials Monday as they discuss China policy, a source told Reuters. On Friday, Reuters reported the chief executives of Intel Corp (INTC.O) and Qualcomm Inc (QCOM.O) were planning to visit Washington this week, according to two sources familiar with the matter. The source told Reuters Monday the companies are having separate meetings with Raimondo, National Economic Council director Lael Brainard, and National Security Council director Jake Sullivan. Reporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Gina Raimondo, Raimondo, Lael Brainard, Jake Sullivan, David Shepardson Organizations: White, Reuters, Intel Corp, Qualcomm Inc, National Economic, National Security, Thomson Locations: China, Washington

July 17 (Reuters) - The U.S.-based Semiconductor Industry Association trade group on Monday called on the Biden administration to "refrain from further restrictions" on chip sales to China as chief executives from the biggest U.S. semiconductor firms planned to visit Washington this week to press their views on China policy. The statement came as the Biden administration considers updating a sweeping set of rules imposed in October to hobble China's chip industry and a new executive order restricting some outbound investment. Reuters reported last week that the chief executives of Intel Corp (INTC.O) and Qualcomm Inc (QCOM.O) planned to meet with government officials to discuss their views on China policy. The statement also comes after China moved to restrict exports of raw materials such as gallium and germanium that are used in making chips. The industry group said that further rule-tightening by U.S. officials risks "disrupting supply chains, causing significant market uncertainty, and prompting continued escalatory retaliation by China."

Persons: Biden, hobble, Stephen Nellis, Karen Freifeld, Nick Zieminski Organizations: Semiconductor Industry Association, Reuters, Intel Corp, Qualcomm Inc, U.S, Thomson Locations: U.S, China, Washington, San Francisco, New York

The executives plan to hold meetings with U.S. officials to talk about market conditions, export controls and other matters affecting their businesses, one of the sources said. Intel and Qualcomm declined to comment, and officials at the White House did not immediately return a request for comment. The sources said other semiconductor CEOs may also be in Washington next week. The chip industry has been warmly received in Washington in recent years as lawmakers and the White House work to shift more production to the U.S. and its allies, and away from China. Many U.S. chip firms get more than one-fifth of their revenue from China, and industry executives have argued that reducing those sales would cut into profits that they reinvest into research and development.

Persons: Arnd, Biden, Pat Gelsinger, Cristiano Amon, Andrea Shalal, Stephen Nellis, Karen Freifeld, Chris Sanders, Edmund Klamann Organizations: Intel Corporation, REUTERS, Intel Corp, Qualcomm Inc, Intel, Qualcomm, White, Huawei Technologies Co, Reuters, Huawei, Nvidia, Nvidia Corp, Thomson Locations: Davos, Switzerland, Washington, China, U.S, Beijing, Many U.S, San Francisco, New York

REUTERS/Arnd Wiegmann/File PhotoJuly 14 (Reuters) - The chief executives of Intel Corp (INTC.O) and Qualcomm Inc (QCOM.O) are planning to visit Washington next week to discuss China policy, according to two sources familiar with the matter. The executives plan to hold meetings with U.S. officials to talk about market conditions, export controls and other matters affecting their businesses, one of the sources said. Intel and Qualcomm declined to comment, and officials at the White House did not immediately return a request for comment. The sources said other semiconductor CEOs may also be in Washington next week. U.S. officials are considering tightening export rules affecting high-performance computing chips and shipments to Huawei Technologies Co Ltd, sources told Reuters in June.

Persons: Arnd, Biden, Andrea Shalal, Stephen Nellis, Karen Freifeld, Edmund Klamann Organizations: Intel Corporation, REUTERS, Intel Corp, Qualcomm Inc, Intel, Qualcomm, White, Huawei Technologies Co, Reuters, Huawei, Nvidia, Thomson Locations: Davos, Switzerland, Washington, China, U.S, San Francisco, New York

☆ GlobalFoundries scraps plan to appoint former top Amazon executive as CFO
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

July 11 (Reuters) - Chipmaker GlobalFoundries (GFS.O) has shelved its plan to appoint former Amazon executive Tim Stone as chief financial officer, it said on Tuesday, two months after choosing him. It said current CFO David Reeder will remain in the role through the end of the year as it looks for a new candidate. GlobalFoundries had in May named Stone, who was at Amazon (AMZN.O) for more than 20 years and served as CFO for AWS and Devices businesses. The chipmaker counts companies including Advanced Micro Devices (AMD.O), STMicroelectronics (STMPA.PA), Qualcomm (QCOM.O) and Lockheed Martin (LMT.N) among its customers. Reporting by Chavi Mehta in Bengaluru; Editing by Nivedita Bhattacharjee and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Tim Stone, David Reeder, GlobalFoundries, Stone, Lockheed Martin, Chavi Mehta, Nivedita Bhattacharjee, Arun Koyyur Organizations: Amazon, AWS, Ford Motor, Devices, Qualcomm, Lockheed, Global, IDC, Thomson Locations: Bengaluru

☆ Wall St ends higher; consumer prices, earnings eyed this week
▼ + stars: | 2023-07-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

That could shed light on the interest rate outlook, with many traders expecting the Federal Reserve to raise interest rates by 25 basis points this month. S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. Analysts expect earnings to have fallen 6.4% in the second quarter from the year-ago period, IBES data from Refinitiv showed. Advancing issues outnumbered decliners on the NYSE by a 2.23-to-1 ratio; on Nasdaq, a 2.06-to-1 ratio favored advancers. The S&P 500 posted 28 new 52-week highs and four new lows; the Nasdaq Composite recorded 59 new highs and 47 new lows.

Persons: Carl Icahn, Quincy Krosby, Janet Yellen, decliners, Johann M Cherian, Saumyadeb Chakrabarty, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, Reserve, Financial, Intel, Qualcomm, U.S, Treasury, Dow Jones, Icahn Enterprises, Citigroup, NYSE, Thomson Locations: U.S, Charlotte , North Carolina, Refinitiv, Bengaluru

☆ Wall St ends up; consumer prices, earnings eyed this week
▼ + stars: | 2023-07-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

That could shed light on the interest rate outlook, with many traders expecting the Federal Reserve to raise interest rates by 25 basis points this month. "The market is obviously poised for the opening of earnings season," but investors are also hyper-focused on consumer prices and the outlook for interest rates, said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina. S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. Analysts expect earnings to have fallen 6.4% in the second quarter from the year-ago period, IBES data from Refinitiv showed. According to preliminary data, the S&P 500 (.SPX) gained 10.97 points, or 0.25%, to end at 4,409.92 points, while the Nasdaq Composite (.IXIC) gained 25.36 points, or 0.19%, to 13,686.08.

Persons: Carl Icahn, Quincy Krosby, Janet Yellen, Johann M Cherian, Saumyadeb Chakrabarty, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, Reserve, Financial, Intel, Qualcomm, U.S, Treasury, Dow Jones, Icahn Enterprises, Citigroup, Thomson Locations: U.S, Charlotte , North Carolina, Refinitiv, Bengaluru

All eyes will be on U.S. inflation data, expected on Wednesday, that will feed into the Fed's interest rate decision later in the month. The second-quarter earnings season kicks off this week and investors will assess the impact of tight monetary conditions and fears of an impending economic slowdown on businesses. Overall, earnings for the S&P 500 constituents are expected to fall 5.7% in the quarter, Refintiv data showed. Most megacap growth and technology stocks slid in mid-day trading, with the FANG index (.NYFANG) falling 1.3%. Big banks such as JPMorgan Chase (JPM.N) and Citigroup (C.N) edged up, ahead of reporting earnings on Friday.

Persons: Carl Icahn, Chris Larkin, Morgan Stanley, Michael Barr, Loretta Mester, Mary Daly, Jefferies, JPMorgan Chase, Janet Yellen, Johann M Cherian, Saumyadeb Chakrabarty Organizations: Citigroup, Dow, Nasdaq, Federal Reserve, PPI, Traders, Dow Jones, JPMorgan, Icahn Enterprises, Intel, Qualcomm, U.S, Treasury, NYSE, Thomson Locations: U.S, Bengaluru

Private payrolls increased more than expected in June, the ADP National Employment report showed, indicating the labor market remained strong despite growing risks of a recession from higher interest rates. Another survey showed the number of Americans filing new claims for unemployment benefits increased moderately last week. "The Fed has been hopeful to see a modest deterioration in the labor market," said Randy Frederick, managing director of trading and derivatives for Charles Schwab. "But since the ADP number was almost twice of what was expected, it generally implies there's potential for more rate hikes going forward." Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: payrolls, Randy Frederick, Charles Schwab, Lorie Logan, Janet Yellen, judge's, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: Exxon, Dow, ADP, Dallas, Twitter, Dow Jones, Nasdaq, Institute for Supply, Qualcomm, Intel, Treasury, Exxon Mobil, JetBlue Airways, American Airlines, Spirit Airlines, NYSE, Thomson Locations: ., Beijing, Washington, China, U.S, Bengaluru

Most tech and growth megacaps, whose valuations come under pressure when borrowing costs rise, fell in early premarket trading, with Alphabet (GOOGL.O) and Tesla (TSLA.O) down 0.7% each. Meta Platforms (META.O) rose 1.8% after attracting millions of users within hours of launching Threads on Wednesday. After a dismal 2022, big growth and technology stocks have seen outsized gains in 2023, with the Nasdaq Composite (.IXIC) clocking its best first-half in 40 years. ET, Dow e-minis were down 139 points, or 0.4%, S&P 500 e-minis were down 19 points, or 0.42%, and Nasdaq 100 e-minis were down 69.25 points, or 0.45%. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen's, judge's, Bansari Mayur Kamdar, Johann M, Vinay Dwivedi Organizations: Exxon, Dow, Nasdaq, Wall, Meta, Twitter, Victoria, Interactive Investor, Investors, Institute for Supply, Dow e, Qualcomm, Intel, Treasury, Exxon Mobil, JetBlue Airways, American Airlines, Spirit Airlines, Coty, Thomson Locations: Beijing, Washington, China, U.S, Bengaluru

☆ Humane, a startup founded by ex-Apple execs, will use Qualcomm chips
▼ + stars: | 2023-06-30 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

June 30 (Reuters) - Humane, the startup founded by ex-Apple Inc (AAPL.O) executives that raised $100 million earlier this year, said on Friday that it will use Qualcomm Inc's (QCOM.O) chips in its forthcoming wearable device. Humane has not given a release date or many other details for a gadget that it said on Friday will be called "Ai Pin." Because the Ai Pin does not have a traditional screen or keyboard, it relies heavily on artificial intelligence to interact with users in natural spoken language. Humane is partnering with OpenAI for AI technology and cloud computing services, respectively. Humane and Qualcomm did not give further details on which Qualcomm chips the Ai Pin will use, but Dev Singh, vice president of business development at Qualcomm, said the offerings would come from Qualcomm's Snapdragon family of chips, which can power devices from smartphones to mixed-reality headsets, depending on the configuration.

Persons: Imran Chaudhri, Sam Altman, OpenAI, Dev Singh, Stephen Nellis, Cynthia Osterman Organizations: Apple Inc, Qualcomm, Apple's Vision, Microsoft Corp, Humane, Thomson

☆ S&P 500, Nasdaq futures down as chip stocks fall, focus on Powell
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +3 min

Semiconductor stocks including Intel (INTC.O), Marvell Technology (MRVL.O) and Qualcomm (QCOM.O) fell more than 1% each. Investors are focused on a panel discussion of key central bank policymakers including Powell and European Central Bank President Christine Lagarde at the ECB annual forum in Sintra, Portugal. The S&P 500 and Nasdaq hit more than one-year highs last week while the Dow scaled a six-month peak before hawkish comments from Powell sparked a selloff. Investors will also keep an eye on bank stocks, with the Fed scheduled to release 2023 results of its annual stress test of large banks after markets close on Wednesday. ET, Dow e-minis were up 20 points, or 0.06%, S&P 500 e-minis were down 4 points, or 0.09%, and Nasdaq 100 e-minis were down 36 points, or 0.24%.

Persons: Powell, Jerome Powell, Christine Lagarde, Russ Mould, AJ Bell, Dow, General Mills, Sruthi Shankar, Johann M, Vinay Dwivedi Organizations: Nasdaq, Dow, Federal, Nvidia, Devices, Wall Street Journal, Commerce Department, Semiconductor, Intel, Marvell Technology, Qualcomm, European Central Bank, ECB, Traders, Dow e, Boeing, Thomson Locations: China, U.S, Sintra , Portugal, Bengaluru

☆ Biden administration taps Google chair for chips research effort
▼ + stars: | 2023-06-20 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

WASHINGTON, June 20 (Reuters) - The Biden administration says it has picked the chairman of Google parent Alphabet Inc (GOOGL.O), John Hennessy, and four other technology industry experts to help with research and development of next-generation computer chips. They will be responsible for picking a board of trustees to run the National Semiconductor Technology Center. That public-private partnership was authorized to lead research on next-generation chips as part of last year's bipartisan $52.7 billion semiconductor manufacturing and research law, which also subsidizes new chip plants. The nonprofit board is expected make politically sensitive decisions, including where in the United States to locate the center's research facilities. "This selection committee is the next step to helping us stand up the NSTC and ensure it succeeds for generations."

Persons: Biden, John Hennessy, Hennessy, Joe Biden, Gina Raimondo, Janet Foutty, Jason Matheny, Don Rosenberg, Brenda Wilkerson, Trevor Hunnicutt, Cynthia Osterman Organizations: Google, Inc, Commerce Department, Reuters, National Semiconductor Technology, Stanford University, Deloitte, RAND Corp, Anzu Partners, Qualcomm, Thomson Locations: United States, China, Taiwan

☆ Biden aides tap Google chair for chips research effort, officials say
▼ + stars: | 2023-06-20 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

WASHINGTON, June 20 (Reuters) - The Biden administration picked the chairman of Google parent Alphabet (GOOGL.O), John Hennessy, and four other technology industry experts to help with research-and-development of next generation computer chips, U.S. officials told Reuters. Hennessy and the selected individuals are set to be announced by the Commerce Department on Tuesday, according to the officials, who declined to be identified. They will be responsible for picking a board of trustees to run the National Semiconductor Technology Center. That public-private partnership was authorized to lead research on next-generation chips as part of last year's bipartisan $52.7 billion semiconductor manufacturing and research law, which also subsidizes new chip plants. The nonprofit board is expected make politically sensitive decisions, including where in the United States to locate the center's research facilities.

Persons: Biden, John Hennessy, Hennessy, Joe Biden, Janet Foutty, Jason Matheny, Don Rosenberg, Brenda Wilkerson, Trevor Hunnicutt, Cynthia Osterman Organizations: Google, Reuters, Commerce Department, National Semiconductor Technology, Stanford University, Deloitte, RAND Corp, Anzu Partners, Qualcomm, Thomson Locations: United States, China, Taiwan

☆ Intel in talks to be anchor investor in Arm IPO - source
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

June 12 (Reuters) - Intel (INTC.O) is in talks with SoftBank Group Corp's (9984.T) Arm to be an anchor investor in the chip designer's initial public offering (IPO), a source familiar with the matter told Reuters on Monday. Arm plans to sell its shares on Nasdaq later this year, seeking to raise $8-$10 billion, Reuters reported earlier in April. Arm's designs are used to manufacture chips made by most of the world's major semiconductor companies, including Intel, AMD (AMD.O), Nvidia (NVDA.O) and Qualcomm (QCOM.O). The chip designer had filed with regulators confidentially for a U.S. stock market listing in April, setting the stage for this year's largest IPO. Arm and Intel declined a Reuters request for comment.

Persons: Anirban Sen, Yana Gaur, Rashmi Aich, Dhanya Ann Thoppil Organizations: Intel, Reuters, Nasdaq, AMD, Nvidia, Qualcomm, Thomson Locations: U.S, New York, Bengaluru

☆ How Samsung became the world’s No. 2 advanced chipmaker and set the stage for a U.S. manufacturing boom
▼ + stars: | 2023-06-09 | by ( Katie Tarasov | ) www.cnbc.com time to read: +5 min

In this article NVDAQCOM6758.T-JPAMATAMD2330-TW.FKRX300MUAAPL Follow your favorite stocks CREATE FREE ACCOUNTSamsung's $17 billion new chip fab is under construction in Taylor, Texas, on April 19, 2023. CNBC recently went inside Samsung's Austin chip fab, for the first in-depth tour given on camera to a U.S. journalist. Samsung got its start in 1938 as the Samsung Sanghoe Trading Company, founded by Lee Byung-chull in Korea. Just a decade after making its first memory chip, Samsung was coming to market with a version that had 1,000 times the capacity. As consumers rein in their spending in the face of rising inflation, demand for memory chips has weakened sharply.

Persons: Katie Brigham, Jon Taylor, Patel, Jinman Han, Han, Lee Byung, Lee Kun, Geoffrey Cain, weren't, Apple, Cain, Jay Y, Lee, Yoon Suk, Joe Biden, Jonathan Ernst Organizations: AMD, Samsung, Taiwan Semiconductor Manufacturing Company, Intel, they'll, CNBC, Austin, Samsung Sanghoe Trading Company, Samsung Samsung, Samsung Electronics, Samsung TV, Hankook Semiconductor, Apple, Republic of Samsung, Samsung Electronics Pyeongtaek, Reuters Locations: Taylor , Texas, TSMC, U.S, Korea, New Jersey, Silicon Valley, South Korea, Republic of, Austin , Texas, Texas, Austin, Pyeongtaek

☆ CNBC Daily Open: How quickly prospects change
▼ + stars: | 2023-06-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

Kevin Mazur | Getty Images Entertainment | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. Treasury Secretary Janet Yellen told CNBC she wouldn't be surprised if more banks start to consolidate, given the increased pressures on the banking system. The bottom lineProspects — for both firms and markets — changed as quickly and suddenly as the haze engulfed New York. Smaller companies are more sensitive to economic conditions because they tend not to have the financial heft to defy a downturn.

Persons: Chris Licht, Kevin Mazur, Janet Yellen, wouldn't, Yellen, Elon Musk, Licht's, Donald Trump, Matthew Furlong, Ryan Cohen, Cohen, GameStop's, Russell, That's, LPL, Quincy Krosby Organizations: CNN Worldwide, Warner Bros, Madison, Garden, Getty, CNBC, Dow Jones, Treasury, Millionaires, CNBC Millionaire Survey, Warner Bros Discovery, CNN, GameStop, Big Tech, Microsoft, Google, Nvidia, Qualcomm, Nasdaq Locations: New York City, U.S, Mongolia, New York

☆ US stocks are in the firing line if China’s economy stalls further
▼ + stars: | 2023-06-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Recent data shows that China is also contending with worse-than-expected consumer spending, slowing manufacturing and weak home sales. What it means for markets: US-based companies doing business in China stand to lose if the economy continues on a downward trajectory. Qualcomm (QCOM), with a 67% exposure rate to China, issued disappointing forward guidance during earnings last month, citing China’s slow recovery. JD.com (JD), one of the largest Chinese companies trading in the United States, has fallen by nearly 36% this year. The air purifier market is poised to grow as climate change increases air pollution and exacerbates breathing difficulties.

Persons: That’s, China —, Capvision, China Nicholas Burns, ”, Goldman Sachs, Dow, JD.com, Morgan Stanley, Goldman, Ayaz Ebrahim, CARR, Johnson, Ivan Menezes, Diageo, Menezes ’, Menezes, King Charles III, Debra Crew, Johnnie Walker, Ivan, Javier Ferrán, “ Ivan Organizations: CNN Business, Bell, New York CNN, International Monetary Fund, Factories, Bain, Group, Micron Technology, Nasdaq, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, China . Companies, Dragon, Goldman Sachs Group, Nomura, Barclays, JPMorgan, Asia Pacific, Bloomberg, Google, Carrier Global, Johnson Controls, Economic Co, Diageo, India, Business, ”, Whisky Association, Northwestern University’s Kellogg School of Management Locations: New York, China, Washington, Beijing, United States, Hong Kong, Dragon China, Canada, Pune, India

☆ Intel to sell $1.5 bln stake in Mobileye
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

June 5 (Reuters) - Intel Corp (INTC.O) is offering 35 million shares of Class A common stock, or about a $1.5 billion stake, in Mobileye Global Inc (MBLY.O), according to a regulatory filing on Monday. After the offering, Intel's voting share in the self-driving technology company will come down to about 98.7% from the 99.3% it currently holds. Shares of the Jerusalem, Israel-based Mobileye fell over 4% to $40.55 in extended trading. Mobileye, which counts BMW (BMWG.DE), Nissan (7201.T) and Volkswagen (VOWG_p.DE), among others as its customers, listed on the Nasdaq last year after raising $861 million in an initial public offering. Goldman Sachs & Co and Morgan Stanley are acting as joint book-running managers for the share sale, the company said.

Persons: Mobileye, Goldman Sachs, Morgan Stanley, Bhanvi, Pooja Desai Organizations: Intel Corp, Mobileye Global Inc, Nvidia Corp, Qualcomm Inc, BMW, Nissan, Volkswagen, Nasdaq, Goldman Sachs & Co, Thomson Locations: Jerusalem, Israel, Bengaluru

☆ Parts of the market are getting pricey. But analysts like these 4 cheap stocks
▼ + stars: | 2023-05-30 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

But only a few stocks — namely mega-cap tech — are responsible for most of the gains , according to analysts. Some analysts, however, believe some parts of the markets are still worth buying. Stock picks In fact, some analysts and portfolio managers recently named stocks that are still cheap, including some in the tech sector. "What's not cheap — our growth stocks and tech stocks and they've had a massive rally here … And those stocks are trading at multiples of in excess of 30 times earnings," he told CNBC's "Street Signs Asia" last week. Look at what's out of favor — value stocks, and particularly cyclical stocks."

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