Qualcomm stock rallies after earnings beat

first_imgQualcomm said it will benefit from the rise of 5G networks and handsets. One of its 5G modem chips is included in Apple‘s iPhone 12, the first iPhone to include 5G capabilities. Qualcomm added Wednesday that it expects about 200 million smartphones with 5G to be shipped in 2020, and about 500 million 5G smartphones to be shipped in 2021. The company also provided guidance for its fiscal first-quarter ending in December. It said it expects revenue between $7.8 billion and $8.6 billion, and adjusted EPS between $1.95 and $2.15.“With global smartphone volumes steadily recovering, Qualcomm is well-positioned to benefit from the long-term 5G investment cycle and we anticipate strong earnings through F2022 and beyond,” Canaccord Genuity analysts wrote in a note Wednesday. The firm raised its price target to $175 from $150.- Advertisement – Shares of Qualcomm extended their double-digit gain into Thursday morning after the company posted strong fourth quarter finances that exceeded Wall Street’s expectations.The company’s stock was up more than 14%.“We believe the stars are aligning for Qualcomm, with a multi-year global 5G cycle starting to ramp, the full benefit of royalties from all major OEMs increases in semiconductor content and pricing, and technology leadership,” Bank of America analysts wrote in a note Thursday. OEMs are original equipment manufacturers. The analysts raised their price target to $180 from $165.- Advertisement – A Qualcomm sign is seen at the second China International Import Expo (CIIE) in Shanghai, China November 6, 2019. REUTERS/Aly SongAly Song | Reuters – Advertisement –center_img Qualcomm reported $1.45 adjusted earnings per share on adjusted revenue of $6.5 billion, compared to Wall Street’s estimated $1.17 earnings per share on revenue of $5.93 billion.— CNBC’s Michael Bloom contributed to this report.Subscribe to CNBC PRO for access to the livestream of CNBC’s continuous election and business news coverage. – Advertisement –last_img read more

Astra Agro Lestari pays $6.76m in dividends despite declining revenue

first_img“The drop in CPO [crude palm oil] price throughout 2019 has affected the company’s performance,” said Astra Agro president director Santosa in a statement on Wednesday after holding an annual shareholders meeting.The company, which manages 286,877 hectares of palm oil plantation in three provinces, reported it had faced difficulties last year as the CPO price had fallen to a record low of $497 per ton at the start of the second half of the year.Last year’s prolonged dry season and the El Nino climate phenomenon had also affected the company’s output.However, the recent spike in the CPO price and the government’s mandatory B30 blended biodiesel program has restored the company’s optimism. Read also: Coronavirus drags down commodity prices as demand from China dropsAstra Agro booked Rp 371.06 billion in revenue in the January to March period, a dramatic 892 percent increase year-on-year.“The positive performance in the first quarter of 2020 is evidence of our operational excellence and cost efficiency,” Santosa said.In the first quarter of the year, the company’s production of fresh fruit brunches dropped 8.5 percent to 1.1 million tons, while its CPO production decreased 14.6 percent to 354 tons due to unfavorable weather conditions. It, however, managed to raise its olein output by around 21 percent to 101,100 tons.“The weather affected the production of fresh fruit brunches in the first quarter of the year,” said Santosa.While many non-essential businesses were temporarily shut down, Astra Agro Lestari continued its plantation and factory operations according to COVID-19 protocols. Only its office employees have worked from home since March in compliance with stay-at-home orders.“We have developed a digitization program over the past three years so it is not difficult to  operate the plantation amid this pandemic,” said Santosa.Read also: Indonesia’s palm oil exports drop 19% in first two monthsDuring the shareholders meeting, the company also made a change in leadership. Johannes Loman, who currently serves as a director at conglomerate PT Astra International, replaced Djony Bunarto Tjondro as a commissioner at Astra Agro. Ari Dono Sukmanto, a former acting National Police chief between late October and early November, joined the board as an independent commissioner.Shares of Astra Agro, traded on the Indonesia Stock Exchange (IDX) with the code AALI, dropped 3.37 percent on Wednesday while the main gauge, the Jakarta Composite Index (JCI) fell 2.27 percent. The stocks have lost more than 17 percent of their value in the last year, Bloomberg data show.Topics : Publicly listed palm oil company PT Astra Agro Lestari announced Wednesday that it would spend 45 percent of last year’s profit, around Rp 94.95 billion (US$6.76 million) in dividends, rewarding its shareholders despite declining productivity.The company, which is a subsidiary of diversified conglomerate PT Astra International, will pay a lower dividend per share of Rp 49 compared to Rp 336 in 2019 as its revenue fell 8.5 percent to Rp 17.45 trillion last year.Read also: Astra steps on the brakes as car demand crasheslast_img read more

Academics call for government inquiry into USS governance

first_imgThey referred to concerns raised in 2017 by Jane Hutton, a professor of statistics at Warwick University and member of USS’ trustee board. According to a report earlier this month in the Financial Times, Hutton claimed she was frustrated in her attempts to analyse and address concerns over the 2017 valuation, and has raised a whistle-blower complaint with the Pensions Regulator (TPR).“The trustees have a fiduciary duty to act in the interests of scheme members,” the letter stated. “A board member, with expertise in statistics, raised serious concerns about the quality of the evidence and analysis being presented to the board.“How were these concerns addressed and investigated by the board of trustees? Did the rest of the trustees investigate these claims adequately and act in the interests of scheme members?“If the trustees or the USS executive are unable to act in the interests of scheme members, then they should resign. If the employer- and union-appointed trustees are failing to act in the interests of scheme members, then it is the responsibility of UUK and of the UCU to replace the trustees.”The academics said an inquiry was “urgently needed” in order to assess the pension fund’s statements and conduct regarding the valuation, as well as that of the trustees and TPR. “It would be appropriate for a select committee of parliament to investigate,” the letter stated.The Work and Pensions Committee, a cross-party group of MPs from the UK parliament’s lower house, have previously taken an interest in USS. Frank Field, the committee’s chair, wrote to USS chief executive Bill Galvin in 2017 demanding answers regarding the scheme’s reported £12.6bn deficit. More than 1,000 UK-based academics have demanded that the government launch an inquiry into governance arrangements at the Universities Superannuation Scheme (USS).In an open letter published in the Financial Times today, signed by 1,012 academic staff from 68 universities, the signatories claimed the behaviour of USS’ trustee board and executive regarding its 2017 valuation had “brought the scheme into disrepute”.The valuation led to a decision to close the defined benefit (DB) section, prompting nationwide strikes and resulting in an as yet unresolved stand off between the University and College Union (UCU) and the employers’ representative body, Universities UK (UUK).In the letter, the academics raised “issues of concern over the governance” of USS, which at more than £64bn (€72bn) is the UK’s largest funded DB scheme.last_img read more

Zamil, UTEC enter offshore survey pact in Saudi Arabia

first_imgZamil Offshore Services and UTEC, an Acteon company, have formed a strategic partnership to execute offshore survey projects in Saudi Arabia.UTEC said on Tuesday that the partnership brings together its offshore survey experience and Zamil Offshore’s marine and offshore operations experience as well as local knowledge.UTEC established its presence in the region 18 months ago and now employs 20 onshore and offshore personnel in its office in Abu Dhabi. As for work in Saudi Arabia, the company worked on providing positioning equipment and construction support for pipelay and jacket installation operations since March 2017.On the other hand, Zamil Offshore owns and operates one of the largest support vessel fleets in the Middle East and is active in the offshore construction industry.Stuart Cameron, UTEC CEO, said: “We’ve experienced rapid growth since moving into the region last year and with our new office in Abu Dhabi we are set up to increase support to our clients’ survey requirements.“We have seen an increase in potential work opportunities in the Kingdom of Saudi Arabia, and we expect this to continue going forward. The partnership is the first step in our strategy to increase our presence and contribution in the Kingdom of Saudi Arabia.”Sufyan Al Zamil, Zamil Offshore president, said: “The partnership is strategic to Zamil Offshore as we continue to diversify our service offerings to our clients. Surveying services add a competitive edge to Zamil Offshore and is a sensible continuation of our current services in the marine and offshore construction segments, where synergies will be apparent. We foresee a great opportunity in this growing market, and we plan on investing in its localization.”last_img read more

Son of Bacolod’s convicted drug lord shot to death

first_imgThe killers then boarded a motorcycle and sped away. Cuadra was supposed to visit his wife at the hospital; she had a stroke. Police recovered a total of seven empty shells of a .45-caliber pistol from the crime scene. Cuadra had just exited his pick-up truck and was heading to the Riverside Medical Center Saturday afternoon when two gunmen shot him seven times, said Police Station 2 chief Major Sherlock Gabana. The younger Cuadra was arrested on May 2016 after police discovered P1.5 million worth of illegal drugs and firearms at his house in Barangay 1. However, he was released in September of the same year after posting bail./PN BY DOMINIQUE GABRIEL BAÑAGA According to the police, 43-year-old Gerald Cuadra of 24th Street Calamba, Barangay 1 was also a suspected drug personality. The younger Cuadra was the son of convicted drug lord Jose Kim “Boy” Cuadra who is currently serving a life sentence for drug trafficking at the New Bilibid Prison in Muntinlupa City, Metro Manila. BACOLOD City – The son of a convicted drug lord was shot to death by unidentified motorcycle-riding gunmen in Purok Sibuyas, Barangay 5 here.last_img read more

Amir Khan ponders retirement

first_imgRelatedPosts Saudi may have enough uranium deposits to make nuclear fuel – Reports Saudi Arabia sets date to lift some international flight restrictions UN says Khashoggi trial fell short on transparency, accountability Former welterweight world champion Amir Khan does not know if he will box again. Khan has twice earned world titles in the 147lbs division and won an Olympics silver medal at Athens 2004 when in the amateur ranks. The 33-year-old last fought in July 2019 when he defeated Billy Dib in Saudi Arabia, a bout which followed a bizarre TKO defeat to Terence Crawford when he was unable to continue after being caught with an accidental low blow. It remains to be seen if Khan will step back into the ring, though he said his love for the sport remains. Speaking to Mirror Sport, he said: “Am I going to fight again? I don’t know, I’m in two minds. Should I fight? “Financially, I’ve done very well for myself. Do I need to do one more fight which could ruin my whole legacy? I don’t know the answer. “I’m up against myself. I’m debating with myself should I carry on or call it a day? “I’m just going to wait and see how I feel after a full training camp. Even if I feel I cannot do it anymore, I can walk away knowing I have done everything. “My love for boxing is still there and I love boxing to bits. But until I see how I feel after a long, hard, gruelling camp, then I won’t know for sure.” Last year, Khan said that an agreement to fight Filipino legend Manny Pacquiao, a bout he has long-since sought, was reached but a showdown did not come to fruition. Khan (34-5) added he only wants to get in the ring for the big names. “I want to be at the top level where I’ve always fought. That’s where I belong and that’s how I want people to remember me,” he said. “Win or lose, I’ve always fought at that top level. I’m only interested in fighting at that level. “You can make mistakes when you try to carry on for too long and don’t call it a day. I’ll know myself when it’s time to stop.”Tags: Amir KhanBilly DibSaudi ArabiaTerence Crawfordlast_img read more

Pearson calls for video technology

first_img Pearson said: “I see what everyone sees, things happen very quickly. “It is going to fuel the debate again about use of technology because we (the Leicester dugout) have the benefit of being able to see it in a few seconds and know what has happened and it is unfortunate to have to deal with two occasions like that in the first half. “I am not going to go down the route of being ultra-critical because at the end of the day the game could be a lot easier by utilising what is available to us, but we don’t.” On Simpson’s penalty he added: “It hit his hand but it is how the rules are interpreted and whether there is a level of consistency. “You can see from the player’s reaction it is unintentional but I fully accept it hits his hand. “There were other occasions at both ends where you could say if that one is given why aren’t the others. “This is the problem the game has. It exposes human beings to making errors – that is not a criticism of the officials but we could make it much easier for everyone concerned if technology was utilised. “It takes a couple of seconds. Even when the whistle has gone and players are remonstrating with the officials it could be reviewed instantaneously. Leicester manager Nigel Pearson believes video technology would have prevented his side conceding two penalties in their 2-2 draw at Liverpool. “It (introduction of technology) is not inevitable but do I think it should be there, yes.” The debate over technology overshadowed what was an impressive comeback by the bottom-of-the-table visitors. “I was pleased with how we played throughout the game,” said Pearson. “We showed our intent and it is unfortunate we had to deal with a couple of disappointing moments in the first half.” Liverpool manager Brendan Rodgers accepted his side had not been good enough to hold onto a lead and a point was all they were worthy of. He said: “I thought we got what we deserved in the end. I don’t think we played well in all honesty and I thought Leicester played very well. “We are obviously disappointed at being 2-0 up as the first goal we gave the ball away so cheaply and did not defend well enough. “It was interesting because we had a plan in place in terms of after the opponent scores or after we score – that five-minute spell where we have an idea of what to do – and unfortunately we failed to do that. “Today we weren’t tight enough on the ball, didn’t keep it for long enough and our passing was slower than normal. “We didn’t start the game well and were fortunate to get a penalty, which gave us confidence.” Captain Wes Morgan was incorrectly penalised for handling when the ball struck his face while Pearson felt the decision against Danny Simpson for the second spot-kick was also harsh. Steven Gerrard scored both penalities and although Leicester fought back with two goals in 100 seconds after the break from substitute David Nugent and Jeffrey Schlupp, the Foxes boss was unhappy they found themselves in a difficult position due to officiating errors from Mike Jones. Press Associationlast_img read more

Elliot Vieira records second successive win as SOAR continues

first_imgGUYANESE Elliot Vieira stormed the front row of the SOAR (Southern Ontario Association of Racing) and snagged his second chequered flag in as many weekends as superbike action continued in Canada over the weekend.The former Caribbean Champion Vieira returned to the Grand bend in Canada last weekend for his second weekend of Pro-sport 600cc action where he snapped up his second win.Qualifying on P2 during the Saturday Session, the Guyanese snagged the lead early on Sunday and never looked back, picking up his second straight win in as many weekends racing.He also snagged a second place finish in the 1000cc event aboard the same 600cc bike he had earlier used.On Saturday, Vieira contended that the bike was working well and he was confident of win.last_img read more

Ennis shines in win over St. John’s, earns high praise from Boeheim

first_img Published on December 15, 2013 at 6:02 pm Contact Trevor: tbhass@syr.edu | @TrevorHass Gerry McNamara. Pearl Washington. Sherman Douglas. Brandon Triche. Adrian Autry. Jason Hart. None were better during their freshman season than Tyler Ennis is this year, according to Jim Boeheim.“As a freshman point guard, he’s playing better than anybody I’ve ever had,” Boeheim said without changing his inflection. “And I’ve had just a few very good freshman point guards.”Ennis starred at Madison Square Garden on Sunday afternoon, igniting No. 2 Syracuse to a 68-63 win over St. John’s (6-3). He put on a clinic in front of 16,357, guiding the Orange to its fifth consecutive 10-0 start to the season. The poised freshman hit six free throws in the final 1:20 of the first half and two more to ice the game with 42 seconds remaining. He scored 15 points in the first half and shined down the stretch. AdvertisementThis is placeholder text“He always makes the right play,” Syracuse guard-forward Michael Gbinije said. “For him to be able to think like that and play like that at such a young age is what really makes him special.”In the first half, he converted on a high-arcing lefty floater to give Syracuse a five-point cushion. He found Jerami Grant for a monstrous dunk. He even banked in a 3. Ennis controlled the tempo of the game, breaking the press with ease, penetrating the lane and finding his teammates. Boeheim thought SU was rated too high at the start of the season. On Sunday, he said the Orange has potential to be a good team, but isn’t a good team yet. But Ennis has exceeded expectations, and so has Syracuse. A No. 9 spot quickly changed to No. 2. As Michigan State, Louisville and Kansas dropped like flies from the ranks of the unbeaten, SU’s record remains unblemished.C.J. Fair’s been the main option, but Ennis has been a close second, feeding Fair and Trevor Cooney the ball and scoring when he’s open. “Maybe the rating people were smarter than I am,” Boeheim said wryly. “They knew Tyler was better than whatever his rating was. He’s been the difference.”He was the difference Sunday. For a while, it appeared St. John’s would stage the comeback and the upset. But Ennis and Fair fended them off. In Maui, Ennis dropped 28 on California as the Orange pulled away for the win. Against Indiana, he fueled a second-half surge. The learning curve that usually stumps freshmen hasn’t been there. “Really if he played like a normal freshman,” Boeheim said, “we’d be about 7-3 right now.”Not all of Ennis’ afternoon was flawless, though. In the second half, he hit a dry spell, missing three straight shots and committing a turnover to start the half. St. John’s, led by D’Angelo Harrison, sliced into SU’s lead. A bucket by Harrison gave the Red Storm its first lead at 55-54. Then Ennis returned to form.He found Fair for a baseline jumper, hit two free throws and then scissored through the lane for a layup. The basket gave Syracuse a 62-60 advantage, one it never relinquished.“He really struggled in the second half,” Boeheim said. “He was really playing like a freshman and he doesn’t do that usually, but then he made a couple unbelievable plays.”He showcased the same composure he has all season. And the result was yet another Syracuse win.“He’s definitely confident and he’s poised as a freshman,” Fair said. “That’s important for us because we’re not in a situation where we need to build a point guard. He’s already what you need.” Comments Facebook Twitter Google+last_img read more

Premier and Kingdom go head to head

first_imgThrow-in is at 3.30 in Semple Stadium on Sunday and Tipp FM will have full live coverage of the game in association with O’Donovan Marquees, Birdhill. Tipp will go into the game as underdogs but the players believe in their own ability and will be going to Thurles to win. Influencial Tipp player Brian Fox says Tipp have momentum going into the game Colm Cooper starts for the Kingdom at centre forward having recovered from the knee injury which kept him out of action all last year.Cooper believes if Tipperarys underage stars stay focused on the game winning an All Ireland fooball title in the next few years is a realistic possibility.last_img read more