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STMicroelectronics Cuts Sales Outlook as Demand Slows

STMicroelectronics lowered its full-year sales guidance after posting first-quarter revenue below forecast, as the demand for chips in the automotive sector… ....

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EMEA Morning Briefing : Shares Seen Lower; Earnings, U.S. GDP Data in Focus

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European Stocks Slip as Mixed Earnings Offset M&A Cheer

European Stocks Slip as Mixed Earnings Offset M&A Cheer
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STMicro cuts FY revenue outlook as slowing car market bites

(Reuters) -European chipmaker STMicroelectronics on Thursday lowered its full-year sales guidance, the latest semiconductor company to struggle with weakening demand from carmakers and a further decline in orders from laptop and phone companies. Analysts polled by LSEG were expecting revenue of $16.1 billion for the year. "During the quarter, automotive semiconductor demand slowed down compared to our expectations, entering a deceleration phase, while the ongoing industrial correction accelerated," said CEO Jean-Marc Chery in a statement. ....

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STMicroelectronics Cuts Sales Guidance Amid Automotive Market Slowdown

By Mauro Orru

STMicroelectronics lowered its sales forecasts for the year after posting revenue below analysts expectations for the first quarter amid a slowdown in demand for chips in the. ....

Mauro Orru , Dow Jones ,