Nomura Hopeful Cypress (CY) Decline Has Stabilized
- Wall Street closes higher as investors digest earnings, megacap outlook
- Tesla touts acceleration of new models, but Q1 results fall short of estimates
- JPMorgan is worried about further S&P 500 sell-off potential
- Oil rises as dollar slips, focus shifts to economic data
- China acquired top-end Nvidia AI chips despite recent US ban- Reuters
- Fisker (FSR) Appoints Michael Healy as Chief Restructuring Officer
- Seagate Technology (STX) Enters $600M Asset Purchase Agreement with Avago
- China acquired top-end Nvidia AI chips despite recent US ban- Reuters
- Wolfe Research Downgrades Warner Brothers Discovery (WBD) to Underperform, 'out of concern that an incipient advertising downturn put guidance at risk'
- Forward Air (FWRD) Appoints Shawn Stewart as CEO
- After-hours movers: Tesla, Texas Instruments, Seagate, Visa and more
- Midday movers: PepsiCo, JetBlue fall; GM, Danaher and UPS rise
- After-hours movers: Cadence Design Systems, Cleveland-Cliffs, Riot Platforms, and more
- Midday movers: Tesla, Li Auto and CNH Industrial fall; Salesforce rises
- Midday movers: Netflix, Super Micro fall; Paramount Global gains
March Quarter Could be Bottom for Cypress Semi (CY) - RBC
January 8, 2013 12:33 PM ESTRBC Capital's Doug Freedman cut his price target on Cypress Semi (NASDAQ: CY) from $15 to $13 but kept an Outperform rating following today's negative Q4 pre-announcement.
The analyst notes sales were particularly soft during the final 2-weeks of December where sales waned at distributors across all... More
Cypress Semiconductor Corp. (CY) Issues Q4 Warning
January 8, 2013 8:04 AM ESTCypress Semiconductor Corp. (NASDAQ: CY) today provided preliminary, unaudited fourth quarter financial results.
The anemic macro environment impacting the semiconductor industry continued in Q4, and in the last two weeks of December we saw further weakness, mainly within our distribution channels, as customers across all geographies and end markets purchased less product than previously was forecasted by our distribution partners, said Brad Buss, Executive Vice President and Chief Financial Officer. This resulted in a negative impact to Q4 revenue that was greater than we expected.
All divisions will decline sequentially from Q3... More