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On Wednesday, American computer manufacturer Micron Technology Inc (MU.O) raised its revenue forecast to a range of $5.2 billion to $5.4 billion from $4.6 billion to $5.2 billion for the third quarter. The company's shares jumped to 3.7% in the afternoon trade.
"We had strong demand from our customers – notably in the data center space – and that demand has been driven mostly due to the work-from-home economy, the increased load on the server infrastructure because of everyone working from home, entertaining from home," Micron's Chief Business Officer Sumit Sadana said in an interview with Reuters.
According to IBES data from Refinitiv, the company expects revenue worth $4.93 billion and adjusted earnings of 56 cents per share.
Samsung Electronics Co Ltd.'s shares (005930.KS), the world's biggest memory chip maker, spiked up by 2.6% to 51,200 Won while its domestic rival SK Hynix (000660.KS) has gained 4.4% to 85,000 Won by 0109 GMT.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
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