© Reuters. NXP Earnings Miss, Revenue Beats In Q3
Investing.com – NXP (NASDAQ:) reported on Monday third quarter that missed analysts’ forecasts and revenue that topped expectations.
NXP announced earnings per share of $1.91 on revenue of $2.86B. Analysts polled by Investing.com anticipated EPS of $2.75 on revenue of $2.85B.
NXP shares are up 29.21% from the beginning of the year, still down 10.17% from its 52 week high of $228.72 set on August 30. They are outperforming the which is up 23.41% from the start of the year.
NXP shares lost 0.22% in after-hours trade following the report.
NXP follows other major Technology sector earnings this month
NXP’s report follows an earnings beat by Alphabet C on October 26, who reported EPS of $27.99 on revenue of $65.12B, compared to forecasts EPS of $23.83 on revenue of $63.53B.
Taiwan Semiconductor had beat expectations on October 14 with third quarter EPS of $1.07 on revenue of $14.75B, compared to forecast for EPS of $1.04 on revenue of $14.81B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Morgan Stanley: bear market rally to continue
One of Wall Street’s best-known bears, Michael Wilson, thinks the S&P 500 will rise another 7% before turning down, so the bear market rally will continue for now, writes Market Watch.
After the Dow Jones, S&P 500 and Nasdaq Composite joined their strongest weekly gains since at least May last Friday, Wilson, who is chief strategist and head of U.S. equity markets at Morgan Stanley (NYSE:MS), told clients that there could be another 5% to 7% before the downward trajectory of U.S. stocks resumes during the latest bear market recovery.
Wilson has held a bearish view of the stock market for about 2 years and correctly predicted a sell-off this year.
Wilson explained in a research note sent out to clients on Monday that a pullback in the 38-50% drop in the stock market this year “would not seem like something unnatural, not consistent with the previous bear market rally.”
While growth concerns have triggered a sell-off in commodities and lowered inflation expectations, the fact that the U.S. economy is already slowing and heading toward recession means that any market rally is likely to be short-lived, and U.S. stocks are likely to eventually fall.
Wilson mentioned in the note that the bear market is not over yet, although it may appear otherwise in the next few weeks as the market takes the rate cut as a sign that the Fed can still manage a “soft landing” and prevent a meaningful revision to earnings forecasts.
U.S. stocks rose last week as investors now hope the slowing economy and falling commodity prices may inspire the Fed to raise interest rates less sharply. Federal funds futures, a derivative used by investors to bet on the pace of the Fed’s monetary policy changes, estimate with a high probability that the Fed will be forced to start cutting interest rates again as soon as next summer.
They also consider the lower peak in the federal funds rate: it will peak around 3.5% at the end of 2022 instead of 3.75% just a couple of weeks ago. Wilson also pointed out the drop in Treasury yields: the 10-year Treasury bond yield went from 3.230% to a low of 3.07% on Friday before rebonding again on Monday.
Wilson expects the S&P 500 index to fall to around 3,400 points if the U.S. Federal Reserve manages to get a “soft landing” for the economy — which Fed Chairman Jerome Powell said last week would be “a very difficult thing to do.”
Wilson expects that if the U.S. economy plunges into recession, the S&P 500 index will fall to around 3,000 points. In any case, Wilson believes that U.S. stocks are still highly valued because the risk premium — that is, the measure of compensation that investors receive for the extra risk of owning stocks instead of bonds — remains about 300 basis points higher than the 10-year Treasury bond yield, which is considered a “risk-free rate.”
Easing chip shortages to help Volkswagen in H2 – CEO
© Reuters. FILE PHOTO: Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermid/File Photo
BERLIN (Reuters) – Volkswagen (ETR:VOWG_p) sees a strong second half of 2022 and expects progress in catching up with rival Tesla (NASDAQ:TSLA) as easing chip shortages start to offset supply chain bottlenecks and rising costs, the carmaker’s CEO said on Tuesday.
“We are earning more than ever,” Chief Executive Herbert Diess said at a works meeting, adding Volkswagen is ramping up electric vehicle volumes in its biggest markets in Germany and China thanks to easing semiconductor shortages.
This should allow the carmaker to narrow the Volkswagen-Tesla gap this year and meet its goal of becoming market leader by 2025 if it seizes the moment while the U.S. electric car maker burns cash on large investments, the CEO said.
“Elon (Musk) has to ramp up two highly complex factories in Austin and Gruenheide at the same time – as well as expand production in Shanghai. That’s going to take strength out of him,” Diess said.
Reliance Chairman Mukesh Ambani steps down as director of telecom arm
© Reuters. FILE PHOTO: Mukesh Ambani, Chairman and Managing Director of Reliance Industries, arrives to address the company’s annual general meeting in Mumbai, India July 5, 2018. REUTERS/Francis Mascarenhas
BENGALURU (Reuters) – Reliance Industries Chairman Mukesh Ambani has stepped down as director of Reliance Jio Infocomm Ltd, the conglomerate’s telecom arm said on Tuesday.
Reliance Jio said https://refini.tv/3Nrs773 it has appointed Mukesh’s son and non-executive director Akash Ambani as the chairman of its board. Akash has been involved with the telecom unit since its launch in late 2016, where he started as a director.
India’s telecoms sector had been upended after the entry of Jio, which triggered a price war that forced some rivals out of the market and turned profits into losses.
Jio, which started out offering mobile teleservices, has been aggressively investing in services like internet broadband and forging ties with handset makers to launch low-cost smartphones and providing 5G services.
The US dollar rate today is stable against the euro, rising against the yen
The US dollar rate today is stable against the euro, rising against the yen and weakly rising against the pound....
Is the EU economy growing? Quarterly GDP growth estimate for the eurozone worsened to 0.6%
Is the EU economy growing? Quarterly estimate of eurozone GDP growth worsened to 0.6%Eurozone GDP growth quarterly estimate worsened to...
Rough gas storage facility UK to be mothballed
Rough gas storage facility UK, which was mothballed in 2017 due to safety concerns, will resume operations due to the...
Will the decline in the US economy begin to slow? The economy is falling for the second quarter in a row. What does it mean?
Will the decline in the US economy begin to slow? Compared to the first quarter of 2022, U.S. GDP has...
Experts named the main reasons for increase in gas prices in the European Union
Problems with the restoration of full operation of the Nord Stream pipeline continue to put pressure on gas futures prices...
Natural gas prices in Europe exceed $2,600
Natural gas prices on the London Stock Exchange ICE record rose to more than $2,600 per thousand cubic meters for...
Oil is getting cheaper — What’s going on in the commodities market?
Oil is getting cheaper. Oil quotes are falling Tuesday night due to concerns about slowing global economic growth and weakening...
Sanctions against Tornado Cash boosted TORN token trading volumes
Tornado cash (TORN) token trading volumes jumped sixfold amid the announcement of sanctions against the mixer. This was pointed out...
Eqonex news: High competition buried public crypto exchange Eqonex
Eqonex news: public U.S. crypto exchange Eqonex (EQOS) will close its services to customers on August 22 due to high...
Bitcoin plummets as miners sell inventory? Miners continue to sell bitcoin, albeit in smaller volumes
Despite lower market volatility, miners are still dumping bitcoin. Because of this, bitcoin also plummets as miners sell inventory. This...
Crude oil price forecast 2022: WTI in free fall amid global turmoil
Crude oil prices are in free-fall at the beginning of the week, with a barrel of West Texas Intermediate currently...
Is Europe in a recession now: the consequences are listed
Is Europe in a recession now? The depth of the recession in the eurozone will depend on the pace as...
Saudi Aramco based oil company sees no strong impact on its position in Asia
Saudi Aramco-based oil company does not see any impact on its position in Asia, including India, from the redistribution of...
Oil prices have stepped up their fall. Will crude oil prices fall even more?
During the day oil quotes turned to fall on fears of slowing growth of the Chinese economy and increasing oil...
Investors Ask Asian Crypto Exchange’s CEO To Step Down, Bankrupt Exchange In Potential Fundraising Talks
Is the Bitcoin rally over? Institutional investors didn’t cause a new bitcoin rally. That’s what Bloomberg writes, citing members of...
S&P Global downgraded Coinbase to speculative: What will happen to the Coinbase stock chart?
Rating agency S&P Global downgraded Coinbase cryptocurrency from BB+ to BB. How will this affect the Coinbase stock chart? Coinbase...
Galaxy digital to buy BitGo? The company declined to buy the cryptocurrency depository
Galaxy Digital to buy BitGo? Galaxy Digital, a company owned by bitcoin investor Mike Novogratz, has changed its mind about...
Current dollar rate as of today: The dollar is rising against the euro and the pound, slightly falling against the yen
Current dollar rate as of today: The dollar is moderately strengthening against the euro and pound sterling. but slightly declining...
US war with China and Russia: Kissinger says the U.S. is “on the brink” of war with Russia and China
US war with China and Russia: Former Secretary of State Henry Kissinger believes that the U.S. is “on the brink...
A threat to the US economy biggest: experts name unexpected factor
The conflict between China and Taiwan is a threat to the U.S. economy largest and can deal a blow to...
How does the FED rate cut affect the stock market? Fed spokesperson calls for continued rate hikes
The history of FED rate hikes and cuts has yet to face what is happening today. Thomas Barkin, president of...
Inflation reduction act of 2022: U.S. Congress agrees to allocate $430 billion for climate and inflation
Both houses of Congress have approved the Inflation Reduction Act of 2022, which also entails an allocation of nearly $370...
Oil prices fall again at the start of Monday’s trading
Global oil prices fall again Monday morning by more than 1%. Investors are evaluating a lot of factors – both...
Copper price per pound declines on doubts about demand in China
Copper prices per pound are declining on Monday due to negative demand prospects in China, according to trading data. The...
Gold price today at 1810 dollars per troy ounce
The gold price today stabilized. On Friday evening, it was at 1810 dollars per troy ounce, which might show the...
Imports of gold in India fell 30% in January-July
Imports of gold in India in January-July declined by 30%. India imported $2.37 billion worth of gold in July 2022,...
What will happen to Brent crude oil prices in the new week
The global oil market will be guided by fresh forecasts on the demand for the raw materials. Brent crude oil...
U.S. Treasury Department to discuss with Brazilian counterparts restrictions on international oil prices from Russia
Deputy Treasury Secretary Brian Nelson will discuss with the Brazilian Ministry of Finance during his visit to Brazil the limitation...
Stablecoin AUSD collapse? Collapse to $0.05 after hacker attack
Stablecoin AUSD collapse? Unknown individuals attacked the Polkadot-based Acala Network protocol and released over 1.2 billion AUSD. As a result,...
Cryptocurrency trading volume analysis: Trading volume decreased by 1.7% in July
According to cryptocurrency trading volume analysis from Chinese journalist Colin Wu, July was not a very good month for the...
- Coronavirus9 months ago
Biden administration still seeking agreement from Mexico on return of asylum seekers
- Cryptocurrency9 months ago
NFT World Records: CryptoDragons Sold Out 500 Eggs in Its Primary Pre-Sale in Тhe Тwinkling of аn Еye!
- Economy9 months ago
Analysis-Europe’s big payday remains elusive even as inflation surges
- Stock Markets5 months ago
WeLion Cooperates with Nio to Produce Semi-Solid Battery
- Cryptocurrency8 months ago
Arvalex Token Launches It’s PreSale to Shake Up The Metaverse
- Cryptocurrency8 months ago
In the Wilder World, Staking and Liquidity Mining Have Arrived
- Cryptocurrency10 months ago
Crypto.com is the #1 app in the Google Play Store in the US
- Cryptocurrency9 months ago
The Next Web 3.0 Social Media Will Be Built on Solana