Tag: slumps
Oil slumps to weekly loss as supply cuts fail to counter demand worries
Biomerica stock slumps ~18% after hours on proposed public stock offering
Lenovo Posts Worst Revenue Fall In 14 Years As PC Demand Slumps
Lenovo Chief Executive Officer Yang Yuanqing told an analyst call after its earnings that the entire PC and mobile market experienced a “severe downturn” in the last quarter, and the company was looking to reduce expenses and improve efficiency. Lenovo is aiming to reduce its run rate operational expenses by approximately $150 million to achieve a medium-term goal of doubling net margin, its chief financial officer, Wong Wai Ming, added. “This includes overall reduction in operational spending as well as workforce adjustments where necessary and appropriate.” he said.
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Hot Stocks: CTSH rises on guidance; LOGI slumps; CAT hits 52-week high; ORMP plunges 76%
S&P 500 slumps nearly 20% in 2022, its worst performance in 14 years
Micron To Cut 10% of Workforce As Demand For Computer Chips Slumps
Micron, which had already announced factory output reductions, is cutting its budget for new plants and equipment, and now expects to spend from $7 billion to $7.5 billion for the fiscal year, a decline from an earlier target of as much as $12 billion. The company is slowing the introduction of more advanced manufacturing techniques and predicts that spending on new production will fall throughout the industry. […] In addition to its planned workforce reductions, the company has suspended share repurchases, is cutting executive salaries and will skip companywide bonus payments, executives said on a conference call after its results were released. Micron said sales will be about $3.8 billion in the fiscal second quarter. That compares with analysts’ average estimate of $3.88 billion, according to data compiled by Bloomberg. In the three months ended Dec. 1, Micron’s revenue declined 47% to $4.09 billion.
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Hot Stocks: NKE soars on earnings; CVGW drops; CAT hits 52-week high; RRGB slumps on downgrade
As Tesla slumps, should I buy NIO shares?
Dr James Fox explores whether he should buy NIO shares as industry leader and peer Tesla trades at its lowest multiples since listing.
The post As Tesla slumps, should I buy NIO shares? appeared first on The Motley Fool UK.