Top News & Analysis California

  • Dec 18- U.S. chipmaker Micron Technology Inc 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. Samsung had already warned of a slowdown in demand and drop in chip prices, flagging an end to a two-year boom in memory chips...

  • Dec 18- U.S. chipmaker Micron Technology Inc 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. But the glut will hammer Micron in the short term, with the company estimating revenue of $5.7 billion to $6.3 billion for...

  • Executives pointed to flashing signs around the world, including a sharp UK slowdown due to Brexit uncertainty, Germany's recent gross domestic product contraction, "yellow vests" unrest in France that threatens to spread to nearby nations and a cool down in Asia. FedEx is a bellwether for the global economy and the results fueled concern that the United States...

  • Executives pointed to flashing signs around the world, calling out a sharp UK slowdown due to Brexit uncertainty, Germany's recent gross domestic product contraction and "yellow vests" unrest in France that threatens to spread to nearby nations. FedEx is a bellwether for the global economy and the results fueled concern that the United States may catch the "...

  • Dec 18- U.S. chipmaker Micron Technology Inc on Tuesday missed Wall Street estimates for quarterly revenue, hurt by falling prices for its memory chips due to a supply glut just as both business and consumer demand has become wobbly. Net sales rose 16 percent to $7.91 billion, but missed analyst expectations of $8.02 billion. Net income attributable to the...

  • Dec 18- U.S. package delivery company FedEx Corp on Tuesday lowered its 2019 forecast, citing weakness in Europe and signs that global trade is faltering, sending its shares down 5.1 percent in after-hours trade. Memphis- based FedEx cut its fiscal 2019 earnings forecast to $15.50 to $16.60 per share, before year-end mark-to-market retirement plan accounting...

  • Dec 18- U.S. package delivery company FedEx Corp lowered its 2019 forecast, citing weakness in Europe, sending shares down 4.6 percent in after-market trading. Memphis- based FedEx cut its fiscal 2019 earnings forecast to $15.50 to $16.60 per share, before year-end mark-to-market retirement plan accounting adjustments and excluding TNT express integration...

  • Dec 18- Chipmaker Micron Technology Inc on Tuesday missed Wall Street estimates for quarterly revenue, hurt by falling prices for its memory chips due to a supply glut. Net income attributable to the chipmaker rose to $3.29 billion, or $2.81 per share, in the quarter ended Nov. 29, from $2.68 billion, or $2.19 per share, a year earlier. Excluding items, Micron earned...

  • Dec 18- Chipmaker Micron Technology Inc reported a 16 percent rise in first-quarter revenue on Tuesday, helped by higher demand for its memory chips from data centers. Net income attributable to the chipmaker rose to $3.29 billion, or $2.81 per share, in the quarter ended Nov. 29, from $2.68 billion, or $2.19 per share, a year earlier. Net sales rose to $7.91 billion...

  • ROME, Dec 18- Air Italy will start flying to Chicago next year, a move likely to revive a dispute between its minority shareholder Qatar Airways and U.S rivals trying to squeeze Gulf operators out of their domestic market. Formerly known as Meridiana, Air Italy is the country's second-largest airline, behind ailing Alitalia, and state-owned Qatar Airways holds a...

  • Dec 18- Elon Musk's rocket company SpaceX Corp is set to raise $500 million at a $30.5 billion valuation, the Wall Street Journal reported on Tuesday, citing people familiar with the fundraising plan. SpaceX investors are paying $186 per share for new stock in the latest funding round, WSJ reported, adding that it is up about 10 percent from the $169- per-share paid...

  • DOHA/ GENEVA, Dec 18- The World Trade Organization said on Tuesday it would investigate Qatar's allegations of intellectual property breaches against Saudi Arabia, despite the kingdom's objection that the WTO had no standing to hear the case. Qatar launched the dispute in October, saying Saudi Arabia was blocking Qatari-owned broadcaster beIN and refusing...

  • ORLANDO, Fla., Dec 18- Elon Musk's SpaceX halted Tuesday's launch of a long-delayed navigation satellite for the U.S. military, postponing for at least a day the space transportation company's first designated national security mission for the United States. SpaceX dropped the lawsuit in 2015 after the Air Force agreed to open up competition, according to...

  • ORLANDO, Fla., Dec 18- Elon Musk's SpaceX halted Tuesday's launch of a long-delayed navigation satellite for the U.S. military, postponing for at least a day the space transportation company's first designated national security mission for the United States. SpaceX dropped the lawsuit in 2015 after the Air Force agreed to open up competition, according to...

  • SpaceX's Falcon 9 rocket, carrying a roughly $500 million global positioning system satellite built by Lockheed Martin Corp, was scheduled to lift off from Florida's Cape Canaveral shortly after 9 a.m. local time, the U.S. Air Force said. SpaceX dropped the lawsuit in 2015 after the Air Force agreed to open up competition, according to SpaceX's website.

  • Apple staff members celebrate as customers coming the Wangfujing store on October 20, 2012 in Beijing, China.

    Qualcomm said it believes Apple remains in violation of a Chinese court's orders to stop selling iPhones despite a software update that Apple pushed on Monday.

  • Qualcomm on Dec. 10 said it had won a preliminary court order in China banning Apple from selling some older iPhone models that the court found violated two Qualcomm software patents. The same day, Apple said that all of its phones remained on sale in China. Apple never publicly commented last week on why or how it believed its current iPhones for sale in China...

  • NEW YORK, Dec 17- Johnson& Johnson on Monday scrambled to contain fallout from a Reuters report that the healthcare conglomerate knew for decades that cancer-causing asbestos lurked in its Baby Powder, taking out full-page newspaper ads defending its product and practices, and readying its chief executive for his first television interview since investors...

  • J&J shares fell nearly 3 percent Monday, closing at $129.14 in New York Stock Exchange trading. Senator Edward Markey, a Massachusetts Democrat on the Environment and Public Works Committee, on Friday sent a letter to the head of the U.S. Food and Drug Administration calling on the agency to investigate the findings in the Reuters report to determine whether J&J...

  • *Hyundai exits local car-sharing firm amid protests. But about six months later, Hyundai sold its stake after thousands of angry taxi drivers, worried about their jobs, threatened to boycott Hyundai cars, Choi told Reuters. Hyundai officials say they were also wary of laws limiting car sharing in South Korea.