SemiLEDs Corp. reported fourth-quarter FY21 revenue of $1.4 million, flat quarter-on-quarter. Margins The gross margin contracted 3,500 basis points to 11 percent Q/Q as costs surged 57.5 percent Q/Q. The operating margin was negative (135) percent versus negative (41) percent previous quarter. It held $4.8 million in cash and equivalents. EPS loss was $(0.42). SemiLEDs…
China’s Kaisa Seeks to Extend Maturity on $400 Million Offshore Bond, Shares Surge
HONG KONG—China’s Kaisa Group Holdings Ltd. said on Thursday it wants to extend the maturity of a HK$3.118 billion ($400 million) bond by a year and a half—part of the property developer’s efforts to avoid a messy default and resolve a liquidity crisis. In a filing, Kaisa said it would exchange its 6.5 percent offshore…
Shares Shrivel After Powell’s Renomination; Turkish Lira Crashes
November 23, 2021
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LONDON—Stock markets fell sharply and the dollar held on to recent gains on Tuesday as investors positioned for interest rate hikes in 2022 after Federal Reserve Chairman Jerome Powell was nominated for a second term. After Wall Street turned lower on Monday, Asian shares dropped and European stocks opened in the red. Futures on Wall…
GlobalFoundries Shares Pop as Analysts Initiate Coverage; See up to 61 Percent Upside
Multiple analysts initiated coverage on GlobalFoundries Inc. Credit Suisse analyst John Pitzer initiated coverage with an Outperform and $75 price target, implying a 20.8 percent upside. The analyst says the benefits of the company’s 2018 strategic pivot from “bleeding edge” to “pervasive” are just now inflecting and sees semi-cyclical and foundry secular tailwinds for GlobalFoundries….
Shares of China Evergrande’s EV Unit Rise After $347 Million Share Sale Plan
November 22, 2021
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HONG KONG—Shares of China Evergrande New Energy Vehicle Group Ltd. rose 11.1 percent to $0.50 on Monday, after the company said it planned to raise around $347 million in a share placement. Embattled property developer China Evergrande’s electric vehicle (EV) unit said on Friday it would issue about 900 million shares, or 8.3 percent of…
China’s Alibaba Warns of Slowest Revenue Growth Since Debut
China’s Alibaba Group Holding Ltd. forecast annual revenue to grow at its slowest pace since its 2014 stock market debut as second-quarter results missed expectations due to slowing consumption, increasing competition, and a regulatory clampdown. U.S.-listed shares of Alibaba, which expects its fiscal year 2022 revenue to grow by 20 percent to 23 percent, were…
Global Shares Mixed After US Stocks Fall Back
November 18, 2021
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TOKYO—Global shares were mixed Thursday after stock indexes shuffled lower on Wall Street. France’s CAC 40 edged up nearly 0.2 percent in early trading to 7,167.47. Germany’s DAX gained 0.2 percent to 16,275.17. Britain’s FTSE 100 fell 0.2 percent to 7,277.41. The future for the Dow industrials was trading 0.2 percent higher, while the future…
Asian Shares Slip After Biden-Xi Talks, Global Shares Mixed
Global shares were tangled on Nov. 17 yet Asian shares failed to see market-boosting news following virtual talks between U.S. President Joe Biden and Chinese leader Xi Jinping. At a three-hour meeting on Nov. 15, the two leaders dialed down some of the heat in Sino-U.S. tensions, though both sides held to entrenched positions on…
Alibaba, Tencent, and JD Lead Hang Seng Higher as Investors Focus on China-US Summit
Shares of Alibaba Group Holding Limited, Baidu Inc., Tencent Holdings Inc., JD.Com Inc., and Li Auto Inc. rose in Hong Kong on Tuesday, while Xpeng Inc. traded lower. What’s Moving Chinese e-commerce giant Alibaba’s shares traded 1.8 percent higher at about $21.11 in Hong Kong, while technology company Baidu’s shares have risen 0.6 percent to…
Vodafone Registers 5% Revenue Growth in 1H
Vodafone Group PLC reported the first half FY22 revenue growth of 5.0 percent year-on-year to €22.5 billion, mainly driven by service revenue growth in Europe and Africa. The service revenue grew 2.8 percent Y/Y to €19 billion. Adjusted EBITDAaL grew 6.5 percent to €7.6 billion. The margin expanded 70 bps to 33.6 percent. The adjusted…
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