Year: 2020

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Trading Ideas

U.S. strikes at a Huawei prize: chip juggernaut HiSilicon

May 22, 2020 admin Comments Off on U.S. strikes at a Huawei prize: chip juggernaut HiSilicon

The latest U.S. government action against China’s Huawei takes direct aim the company’s HiSilicon chip division–a business that in a few short years has become central to China’s ambitions in semiconductor technology but will now lose access to tools that are central to its success. Huawei Technologies Co Ltd for its part denounced the U.S. allegations and called the new measures “arbitrary and pernicious.” Established in 2004, HiSilicon develops chips mostly for Huawei, and for most of its existence has been an afterthought in a global chip business dominated by U.S., Korean and Japanese companies. …read more […]

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Business News

Trump visits Ford plant in politically crucial Michigan, leaves mask off for cameras

May 22, 2020 admin Comments Off on Trump visits Ford plant in politically crucial Michigan, leaves mask off for cameras

President Donald Trump traveled on Thursday to the crucial U.S. election battleground state of Michigan to visit a Ford Motor Co plant amid tensions with its Democratic governor during the coronavirus pandemic, opting not to wear a protective face mask for the cameras.

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HPE Reports Declining Sales; Issues Cost-Cutting Plan

May 21, 2020 admin Comments Off on HPE Reports Declining Sales; Issues Cost-Cutting Plan

(Bloomberg) — Hewlett Packard Enterprise Co. reported declining sales, and said it would “realign the workforce” and cut costs over the next three years, signaling that the stumbling global economy has dented demand for servers.Revenue fell 16% to $6 billion in the period ended April 30, the San Jose, California-based company said Thursday in a statement. Analysts, on average, expected $6.19 billion, according to data compiled by Bloomberg. Profit, excluding some items, was 22 cents a share, compared with an average estimate of 28 cents.The company said it was putting in place a plan to cut costs, with a goal …read more […]

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Trading Ideas

HPE Reports Declining Sales; Issues Cost-Cutting Plan

May 21, 2020 admin Comments Off on HPE Reports Declining Sales; Issues Cost-Cutting Plan

(Bloomberg) — Hewlett Packard Enterprise Co. reported declining sales, and said it would “realign the workforce” and cut costs over the next three years, signaling that the stumbling global economy has dented demand for servers.Revenue fell 16% to $6 billion in the period ended April 30, the San Jose, California-based company said Thursday in a statement. Analysts, on average, expected $6.19 billion, according to data compiled by Bloomberg. Profit, excluding some items, was 22 cents a share, compared with an average estimate of 28 cents.The company said it was putting in place a plan to cut costs, with a goal …read more […]