STMicroelectronics (STM) Lowers Q4 Guidance
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STMicroelectronics (NYSE: STM) lowers fourth quarter guidance. The company said based on current visibility, they now expects fourth quarter revenues to be between approximately $2.2 billion and $2.35 billion, versus the consensus of $2.62 billion.
The company cited recent slowdown in the billings, recent and substantial changes in customers' demand and order push-outs for the month of December, for the lower guidance.
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