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Micron sales, profit miss estimates as chip glut hurts prices

2 hours ago DieselGasoil Comments Off on Micron sales, profit miss estimates as chip glut hurts prices
(Reuters) – U.S. chipmaker Micron Technology Inc (MU.O) gave on Tuesday quarterly sales and profit forecasts well below Wall Street estimates, citing a market glut of memory chips as consumer and business demand for phones and computers is weakening. Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their fair booth at Read More

Asian business confidence wallows near three-year low on trade worries: Thomson Reuters/INSEAD

2 hours ago DieselGasoil Comments Off on Asian business confidence wallows near three-year low on trade worries: Thomson Reuters/INSEAD
SINGAPORE (Reuters) – A very cautious optimism remains among Asian companies in the fourth quarter as they wait to see whether there will be any breakthrough in a trade dispute between the United States and China, a Thomson Reuters/INSEAD survey showed. FILE PHOTO: A cat sleeps in a box in a mango shop in Bangkok, Read More

FedEx cuts 2019 earnings forecast on economic slowdown

5 hours ago DieselGasoil Comments Off on FedEx cuts 2019 earnings forecast on economic slowdown
(Reuters) – U.S. package delivery company FedEx Corp (FDX.N) on Tuesday cut its 2019 forecast after Europe’s economy weakened and the U.S. trade skirmish exacerbated a slowdown in China, sending its shares tumbling as much as 6 percent in after-hours trade. FILE PHOTO: A federal Express freight truck is pictured in Irvine, California, U.S., January Read More

Micron sales miss target as chip glut hurts prices

5 hours ago DieselGasoil Comments Off on Micron sales miss target as chip glut hurts prices
(Reuters) – U.S. chipmaker Micron Technology Inc (MU.O) on Tuesday gave quarterly sales and profit forecasts well below Wall Street estimates, citing a market glut of memory chips as consumer and business demand for phones and computers is weakening. Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their fair booth at Read More

Parex Concludes Strategic Repositioning Process and Announces Operational Update and Go-Forward Business Plan

6 hours ago DieselGasoil Comments Off on Parex Concludes Strategic Repositioning Process and Announces Operational Update and Go-Forward Business Plan
CALGARY, Alberta, Dec. 18, 2018 (GLOBE NEWSWIRE) — Highlights (all dollar amounts US dollars, unless otherwise noted): Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT) announces today that its strategic repositioning review process has been completed and did not result in an acceptable proposal; Parex believes that the market price of its common shares does Read More

FedEx cuts 2019 view on European softness, global trade concerns

6 hours ago DieselGasoil Comments Off on FedEx cuts 2019 view on European softness, global trade concerns
(Reuters) – U.S. package delivery company FedEx Corp (FDX.N) on Tuesday lowered its 2019 forecast, citing weakness in Europe and signs that global trade is faltering, sending its shares tumbling 6 percent in after-hours trade. An all-electric FedEx delivery truck is seen in San Diego, California September 24, 2013. REUTERS/Mike Blake “Global trade has slowed Read More

Saudi Arabia makes rare, bullish call on oil in its 2019 budget

6 hours ago DieselGasoil Comments Off on Saudi Arabia makes rare, bullish call on oil in its 2019 budget
By Mohammed Aly Sergie on 12/18/2018 DUBAI (Bloomberg) — Saudi Arabia’s government expects to earn more from oil next year, an optimism that defies most price forecasts for crude and contrasts with the kingdom’s history of making conservative financial assumptions. The world’s biggest crude exporter is estimating that oil will average about $80/bbl in 2019 Read More

Micron misses sales estimates as chip supply glut hurts prices

7 hours ago DieselGasoil Comments Off on Micron misses sales estimates as chip supply glut hurts prices
Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their fair booth at an industrial fair in Frankfurt, Germany, July 14, 2015. REUTERS/Kai Pfaffenbach/File Photo (Reuters) – U.S. chipmaker Micron Technology Inc (MU.O) on Tuesday missed Wall Street estimates for quarterly revenue, hurt by falling prices for its memory chips due to Read More

Micron quarterly revenue rises 16 percent

8 hours ago DieselGasoil Comments Off on Micron quarterly revenue rises 16 percent
Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their fair booth at an industrial fair in Frankfurt, Germany, July 14, 2015. REUTERS/Kai Pfaffenbach/File Photo (Reuters) – Chipmaker Micron Technology Inc (MU.O) reported a 16 percent rise in first-quarter revenue on Tuesday, helped by higher demand for its memory chips from data Read More

FedEx quarterly revenue rises 9.2 percent

8 hours ago DieselGasoil Comments Off on FedEx quarterly revenue rises 9.2 percent
An all-electric FedEx delivery truck is seen in San Diego, California September 24, 2013. REUTERS/Mike Blake (Reuters) – U.S. package delivery company FedEx Corp (FDX.N) reported a 9.2 percent rise in quarterly revenue on Tuesday, driven by higher shipment volumes. The Memphis-based company’s net profit rose to $935 million, or $3.51 per share, for the Read More