Page 3 - Efinitiv News Today

Semiconductor equipment maker Applied Materials on Thursday forecast fourth-quarter results above market estimates on strong demand from chipmakers setting up new plants.

In late July came the news that the once mighty GARS fund was to close, and with it another checkered episode in the history of UK fund management.

"We are incurring significant factory start-up costs relating to facilities that we are constructing or expanding that have not yet started revenue-generating production," Wolfspeed said.

Sqm: "The positive impact of significantly higher sales volumes during the second quarter of 2023 was partially offset by lower average selling prices compared to the same period last year," the company said

Target: The retailer, which largely sells non-essential items like electronics and home decor, has taken a hit from a shift in the spending pattern of consumers, who prefer services and experiences over such products while focusing more on groceries.

The April-June period was Rakutens 12th straight quarter of losses as its mobile offering has failed to bring in the customers to cover the immense costs of building out the network.

Foxconn: The Taiwanese company, the worlds largest contract electronics maker, said net profit for the April-June quarter slipped to T$33 billion from a revised T$33.29 billion in the same period the previous year.

Canoo: Electric vehicle startup initiates hiring and investment in state facilities, anticipates market reaction to Q2 financial results.

Ralph Lauren: After a robust spending spree last year, affluent shoppers in the U.S. have now cut back on luxury goods purchases as sticky inflation and high interest rates have spooked even the wealthy.

Under Armour, like many other clothing brands, has offered steeper discounts to clear its bloated inventories by attracting budget-conscious customers that have otherwise cut back on non-essential purchases in the face of higher prices, rents and interest rates.