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Shares of Target Corp (TGT.N) tumbled 12% after the big-box retailer forecast a surprise drop in holiday-quarter sales. Micron Technology (MU.O) shares dropped over 7% after the company said it would reduce memory chip supply and make more cuts to its capital spending plan. The S&P 500 information technology sector (.SPLRCT) dropped 1.3%, while the Philadelphia SE Semiconductor index (.SOX) sank over 4%. Elsewhere in retail, shares of Lowe's (LOW.N) rose over 3% after the home improvement company raised its annual profit forecast. The S&P 500 posted 3 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 54 new highs and 110 new lows.

☆ Micron to supply fewer memory chips in 2023, plans fresh capex cuts
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

Micron was the first major chipmaker to sound an alarm about falling demand for personal computers and smartphones earlier this year in the face of decades-high inflation. "In order to significantly improve total inventory ... DRAM bit supply will need to shrink and NAND bit supply growth will need to be significantly lower than previous estimates," the company said. Widespread supply and capex cuts typically denote a bottom for the memory industry and is a good sign, Wedbush Securities analyst Matt Bryson wrote in a note on Wednesday. But he said there is potential for a longer demand trough that would likely weigh on the broader technology space. For 2023, the company expects its year-on-year bit supply growth to be negative for DRAM and in the single-digit percentage range for NAND.

REUTERS/Brendan McDermid/File PhotoSummarySummary Companies October retail sales rise more than expectedTarget's dull outlook weighs on retailersMicron's supply cut triggers chip selloffIndexes: Dow up 0.05%, S&P down 0.51%, Nasdaq down 1.10%Nov 16 (Reuters) - The S&P 500 and Nasdaq fell on Wednesday as a grim outlook from Target spurred fresh concerns for retailers heading into the crucial holiday season, while Micron's supply cut triggered a selloff in the chip sector. Target Corp (TGT.N) tumbled as much as 17% in early trading as a pullback in consumer spending despite heavy discounting cut its third-quarter profit by half. Despite the sales warning from Target, data showed U.S. retail sales increased more than expected in October, boosted by purchases of motor vehicles and suggesting that consumer spending remained stable. Declining issues outnumbered advancers for a 1.73-to-1 ratio on the NYSE and for a 2.23-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and two new lows, while the Nasdaq recorded 50 new highs and 104 new lows.

☆ Micron launches mass output of advanced chip in Japan
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 16 (Reuters) - Memory chip maker Micron Technology (MU.O) on Wednesday kicked off mass production of its new high-capacity low-power 1-beta dynamic random access memory (DRAM) chips at its plant in Hiroshima, Japan. The production of Micron's most advanced chip, which can store a third more data than older chips, comes as Japan tries to revive and modernise its once-mighty chip industry. The Japanese government in September offered Micron a 46.5 billion yen ($332 million) to boost production capacity at its plant. In July it gave a 93 billion yen subsidy to rival memory chip makers Kioxia Corp and Western Digital Corp (WDC.O) to help it expand output at their joint factory Japan. ($1 = 140.2700 yen)Reporting by Tim Kelly; Editing by David Dolan and Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

☆ Nvidia's quarter fails to excite but offers enough hope that October's bottom can hold
▼ + stars: | 2022-11-16 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

That said, encouragingly, the team expects Gaming inventory levels to approach normal levels as we enter calendar year 2023. Fourth quarter guidance was underwhelming, but it was encouraging to hear management say they expect to see sequential growth in Data Center, Gaming, and Automotive. Segment Q3 sales Data Center revenue grew 31% to $3.83 billion, a tad short versus the $3.84 billion consensus. Gaming revenue fell 51% to $1.57 billion, but it was better than expectations of $1.33 billion. Capital Allocation In its fiscal third quarter, Nvidia returned a total of $3.75 billion to shareholders via dividends and buybacks.

☆ Surplus semiconductor inventory grows as global demand tapers
▼ + stars: | 2022-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSurplus semiconductor inventory grows as global demand tapersRajvindra Gill, Needhman semiconductor analyst, joins 'Closing Bell' to discuss Micron's warning about production cuts over economic weakness, locating the bottom for smart phone sales and data center demand weakness.

☆ COVID variants BQ.1/BQ.1.1 make up 44% of U.S. cases - CDC
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

[1/2] The word "COVID-19" is reflected in a drop on a syringe needle in this illustration taken November 9, 2020. BQ.1.1 accounted for nearly 24.1% of circulating variants and BQ.1 was estimated to make up 20.1% of circulating cases for the week ending Nov. 12, the U.S. CDC said. While there is no evidence linked to the increased severity of the new variants compared to BA.4 and BA.5, they have shown an increasing presence in Europe, Singapore, Canada, among other places. The BA.5 subvariant is estimated to make up about 29.7% of cases in the United Sates, compared with nearly 41.1% in the week ended Nov. 5, according to the CDC. Reporting by Khushi Mandowara; Editing by Vinay Dwivedi and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

The recently authorized booster vaccine protects against the original SARS-CoV-2 virus and the more recent omicron variants, BA.4 and BA.5. But there's a new batch of so-called "Scrabble" variants circulating globally. But experts still expect the shots to ramp up your immunity against all Covid variants, to some degree. The Scrabble variants are descendants of omicronThe new variants are descendants of omicron, which is a promising initial sign for the boosters. That can "restore a level of immunity and patch up the holes that some of these new Scrabble variants have found," she explains.

☆ COVID variants BQ.1/BQ.1.1 make up 35% of U.S. cases
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

The subvariants made up nearly 9% of total cases in the week of Oct. 15 and their proportion has been rising steadily among circulating cases since then. New variants are monitored closely by regulators and vaccine manufacturers in case they start to evade protection offered by current shots. BQ.1.1 made up nearly 19% of circulating variants and BQ.1 was estimated to make up 16.5% of circulating cases in the week of Nov. 5, the U.S. CDC said on Friday. The BA.5 subvariant, which drove up cases earlier this year, is estimated to make up about 39% of cases, compared with nearly 51% in the week ended Oct. 29. Coronavirus cases saw a small uptick for the week ended Nov. 2, data from CDC showed.

REUTERS/Dado Ruvic/Illustration/File PhotoOct 21 (Reuters) - U.S. health regulators on Friday estimated that BQ.1 and closely related BQ.1.1 accounted for 16.6% of coronavirus variants in the country, nearly doubling from last week, while Europe expects them to become the dominant variants in a month. The two variants are descendants of Omicron's BA.5 subvariant, which is the dominant form of the coronavirus in the United States. New variants are monitored closely by regulators and vaccine manufacturers in case they start to evade protection offered by current shots. The World Health Organization this week said BQ.1.1 is circulating in at least 29 countries. The U.S. CDC said on Friday BQ.1 and BQ.1.1 last week were estimated to make up 9.4% of circulating variants.

☆ COVID variants BQ.1, BQ 1.1 make up 16.6% of U.S. cases - CDC
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

The variants have spread quickly in the country in the last few weeks, particularly in New York. The CDC said on Friday that BQ.1 last week was estimated to make up 5.8% of circulating variants, while BQ.1.1 had made up 3.6% of all variants. New variants are monitored closely by regulators and vaccine manufacturers in case they start to evade protection offered by current shots. The World Health Organization this week said BQ.1.1 is circulating in at least 29 countries. The BA.5 variant is estimated to made up 62.2% of cases for the week of Oct 22, down from 70.2% in the week of Oct 15.

☆ Dr. Fauci: These 2 new fast-spreading omicron Covid subvariants are ‘pretty troublesome'
▼ + stars: | 2022-10-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

As winter inches closer, Dr. Fauci is sounding the alarm about a pair of "pretty troublesome" Covid variants. There's no guarantee that the two strains will eventually overtake BA.5 as the dominant variant in the country. But if they do spread rapidly, they could threaten to reverse a nationwide decline in Covid cases, hospitalizations and deaths, leading Fauci to urge Americans against letting their guard down. Scientists from Peking University in China published a study earlier this month that found BQ.1.1's ability to evade antibodies was "far exceeding" that of BA.5. The CDC recommends masking indoors if you're in a county with a substantial or high-level spread of Covid.

☆ Omicron-specific Covid boosters appear to work well, new data says—regardless of the side effects you experience
▼ + stars: | 2022-10-15 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

If you already got your omicron-specific Covid booster, you might have experienced some side effects. But there's no need to worry: Experts and new data say the new shots appear to work — regardless of whether you experience moderate, mild or no side effects at all. The new boosters gained approval from the U.S. Food and Drug Administration and the CDC before they finished clinical trials. Like previous Covid vaccines, the new boosters are designed to help you fight the virus by triggering an immune response in your body. Covid vaccines typically take two to three weeks to fully ramp up your immunity, which can help your body stop an infection from happening or keep it from progressing to severe disease.

☆ Loop Capital says buy Micron Technology as the semiconductor downcycle nears a bottom
▼ + stars: | 2022-10-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Despite a tough few quarters for the memory industry, signs that the rout is nearing a bottom makes now an opportune time to buy shares of Micron Technology , according to Loop Capital. "We expect DRAM fundamentals to bottom in 1H23, with the share price typically bottoming a couple of quarters ahead," he wrote. Despite slumping about 41% this year as the semiconductor industry and growth stocks come under pressure, shares are due for a rebound and offer an attractive risk/reward at these levels, Park said. "While bit shipments remain weak, price declines so far have been relatively resilient compared to the past downcycles," Park wrote. "Long-term outlook for the memory industry remains positive, as memory has become strategically more important within semis."

☆ Pfizer or Moderna: Which new omicron-specific Covid booster should you get?
▼ + stars: | 2022-09-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Americans have two options for a new omicron-specific Covid booster shot: Pfizer or Moderna. Pfizer's booster is cleared for anyone 12 and older, while Moderna's booster is for people 18 and older. "People ages 18 years and older may get a different product for a booster than they got for their primary series, as long as it is [Pfizer or Moderna,]" the CDC's website reads. "It's OK to mix and match Moderna and Pfizer," Dr. Ralph Gonzales, associate dean for clinical innovation at UC San Francisco, said at a campus town hall earlier this month. I definitely felt a stronger response with the Moderna — having had Pfizer before — but either combinations are fine."

☆ Omicron-specific Covid boosters for children ages 5 to 11 are 'only a matter of weeks away,' says FDA vaccine chief
▼ + stars: | 2022-09-22 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

New omicron-specific Covid boosters for children ages 5 to 11 are "only a matter of weeks away," according to the U.S. Food and Drug Administration's vaccine chief. Marks added that an authorization for the youngest age group — kids under 5 — is still "a few months away." The CDC expects Pfizer's redesigned booster to be for children ages 5 to 11, and Moderna's to be for children ages 6 to 17. Currently, children ages 5 to 11 are only eligible to receive Covid vaccines for their primary series, and a single monovalent booster dose from Pfizer. If the new bivalent boosters receive approval from the FDA and CDC, the monovalent boosters may no longer be authorized for the age group, according to the CDC's planning guide.

☆ Mizuho downgrades Micron, says increasing competition and macro headwinds will pressure the stock
▼ + stars: | 2022-09-21 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

The coming months will be more challenging for the companies that make memory chips, Mizuho Securities said. Analyst Vijay Rakesh downgraded Micron Technology to neutral from buy under the expectation of slowing demand and increased competition. He also slashed his price target on the stock by 25% to $56 per share from $75 per share. Micron, in line with the industry, reported higher supply levels as demand for chips slides, Rakesh said. On top of that, the field of memory chip makers has become more crowded with the entrance of Yangtze Memory Technologies, which was founded in 2016.

☆ 1 in 3 workers fear they'll catch Covid by returning to the office—here's how to keep yourself healthy
▼ + stars: | 2022-09-19 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

A recent Gallup poll found that one in three U.S. workers are "very" or "moderately" concerned about Covid exposure at work. Stay up-to-date on your Covid vaccinesStaying up-to-date on your vaccines is the best way to protect yourself from Covid. That means completing your primary series and receiving the booster shots you're eligible for. You'll need to be at least two months out from your last dose of any Covid shot, the CDC says. Have completed your primary series, but are immunocompromisedHave completed your primary series and are in an area with a substantial or high level spread of Covid.

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