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...SK Hynix and Samsung Electronics control 90 per cent of the global market in “high bandwidth memory” chips, which are crucial components in the systems needed to train AI systems such as OpenAI’s ChatGPT...
...US aerospace and defence group Northrop Grumman has raised its 2023 sales guidance by $400mn as global demand for its weapons grows....
...US aerospace and defence group Northrop Grumman has raised its full-year sales outlook on increased worldwide weapons demand....
...Other companies: Telecommunications company Comcast, renewable energy group NextEra Energy, and defence contractor Northrop Grumman report earnings before the bell....
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...Northrop Grumman shares fell more than 5 per cent in pre-market trading after the US aerospace and defence company missed estimates for third-quarter earnings because of supply chain problems....
...Northrop Grumman said its full-year sales would be at the lower end of its guidance this year. Lockheed cut its 2022 guidance in July....
...Gjovik pointed to a potential conflict of interest regarding Apple board member Ronald Sugar, chair of the audit committee, as he was previously chief executive of Northrop Grumman, the defence company responsible...
...This has shrunk to five highly diversified companies: Lockheed, Raytheon Technologies, Boeing, General Dynamics and Northrop Grumman....
...Like many manufacturers, Northrop Grumman is wrestling with supply chain challenges, in particular shortages of electronic parts such as cables, connectors and power supplies....
...The unusually weak hiring stems from a combination of slumping electronics demand — both globally and in China — and an ongoing shift of supply chains away from the country....
...demand for electronics....
...Investors will be looking for comments from Lockheed Martin (reporting on Tuesday) and Northrop Grumman (whose numbers are out on Thursday) to see if these promises will actually generate future revenues...
...Leaders at Lockheed, Raytheon, Boeing, Northrop Grumman and General Dynamics all spoke of the difficulty of securing parts and labour during recent earnings calls....
...The company’s guidance that this was the month when operations were worst affected by the plant disruption was therefore “not all that meaningful”, said the person close to the company....
...Stock prices for Lockheed, Northrop Grumman and General Dynamics are up 12 to 15 per cent since the start of the war....
...It provided no further detail, justification or guidance....
...The “Big Five” consists of Raytheon, Lockheed Martin, Boeing, Northrop Grumman and General Dynamics, which have a combined market capitalisation of $470bn....
...Roblox’s chief executive David Baszucki refuted the impact of a gaming downturn on the company’s results however, asserting that it is more of a “future human experience platform” than a gaming company and...
...The Japanese electronics and gaming group began outsourcing the production of its PlayStation consoles and consumer electronics products in the past few decades....
...Rainey said Walmart had cleared most of its summer seasonal inventory but was still holding excess stock in electronics, home and sporting goods....
...Q1, Comcast Q1, Eli Lilly and Co Q1, Hershey Q1, Intel Q1, McDonald’s Q1, Merck & Co Q1, Nokia Q1, Northrop Grumman Q1, Sainsbury’s H1, Samsung Electronics Q1, Swedbank Q1, Total Q1, VeriSign Q1 Friday...
...“It wasn’t really earth-shattering guidance,” Schapiro told Moral Money....
...Delays in gaming releases have lowered shares in both companies over the past 12 months. Neither offered positive guidance in the last set of earnings....
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