Life

Allegheny Technologies Inc Q3 adjusted earnings Beat Estimates

Advantest H1 Profit Down 8.5%; Raises FY Outlook – Quick Facts

Advantest Corp. (ATE), a Japan-based manufacturer of automatic test equipment for the semiconductor industry, reported Thursday that its first-half net income attributable to owners of the parent declined 8.5 percent to 24.49 billion yen from 26.77 billion yen in the year-ago period. Earnings per share were 122.97 yen, down from 134.77 yen a year ago.

Operating income for the half year decreased 5.9 percent to 30.94 billion yen from 32.88 billion yen last year.

However, net sales for the period rose 4.6 percent to 144.10 billion yen from last year’s 137.75 billion yen.

Looking ahead to fiscal 2020, Advantest now projects attributable net income of 42.5 billion yen, operating income of 52.50 billion yen, and net sales of 275.00 billion yen.

Earlier, Advantest forecast full-year attributable net income of 35.8 billion yen, operating income of 45.0 billion yen and net sales of 260.00 billion yen.

Three Dead in Knife Attack in Nice as Nearby Cannes Wraps Mini-Festival

Three people are dead following a knife attack in the French city of Nice on Thursday morning.

The incident took place in and around the Notre-Dame basilica, according to Nice Mayor Christian Estrosi, who shared details on his Twitter page. He said “everything suggests a terror attack” that took place within the cathedral. The suspect has now been detained, and France’s anti-terror authorities have opened a murder inquiry.

Police have said one woman had her throat cut in the attack, reports the BBC. One of the victims is a caretaker at the basilica, said Estrosi.

It’s understood that worshippers were inside the building during the attack, and one individual was able to raise a special alarm that had been installed by the city.

France’s interior ministry has said security and rescue forces are now on the ground in Nice, and has asked residents to avoid the area.

President Emmanuel Macron is expected to visit the scene on Thursday.

Nice is around one hour’s drive from Cannes, where a three-day mini-festival has been underway since Tuesday. Variety has reached out to festival organizers to inquire about potentially enhanced security protocols in light of the terror attack, but has yet to hear back definitively about any new measures.

The mini-festival kicked off with heavy security protocols already in place, as Cannes has been wont to do in recent years given the spate of terror incidents in France.

More to come. 

Man arrested after stabbing at French consulate in Saudi Arabia

A man in his forties has been arrested in Jeddah, Saudi Arabia, after attacking a security guard at the French consulate in the kingdom's coastal city, Saudi state media SPA reported Thursday. The attack resulted in "minor injuries," Saudi authorities said, and the victim has been transported to a hospital for treatment.

"The Embassy of France firmly condemns this unjustifiable attack against a diplomatic post," the French embassy in Saudi Arabia said in a statement shortly after the attack, thanking Saudi authorities for their rapid response to the case. It urged French citizens in the kingdom to be on maximum alert.

The stabbing took place just hours after a terror attack in a church in Nice, France, that left three people dead. French police have arrested the assailant and are treating the killings as a terrorist attack.

Alliance Data Systems Corporation Q3 adjusted earnings Beat Estimates

Below are the earnings highlights for Alliance Data Systems Corporation (ADS):

-Earnings: $133.3 million in Q3 vs. -$107.6 million in the same period last year.
-EPS: $2.79 in Q3 vs. -$2.13 in the same period last year.
-Excluding items, Alliance Data Systems Corporation reported adjusted earnings of $164.8 million or $3.45 per share for the period.
-Analysts projected $2.25 per share
-Revenue: $1.05 billion in Q3 vs. $1.44 billion in the same period last year.

Marvell To Acquire Inphi In Cash & Stock Deal – Quick Facts

Marvell Technology Group Ltd. (MRVL) and Inphi Corp. (IPHI) announced a definitive agreement, under which Marvell will acquire Inphi in a cash and stock deal. The transaction consideration will consist of $66 in cash and 2.323 shares of stock of the combined company for each Inphi share.

Upon closing of the transaction, Marvell shareholders will own approximately 83% of the combined company and Inphi stockholders will own approximately 17% of the combined company. Marvell intends to reorganize so that the combined company will be domiciled in the United States. Upon closing, Ford Tamer, Inphi’s CEO, will join Marvell’s Board.

Marvell expects the acquisition to generate annual run-rate synergies of $125 million to be realized within 18 months after the transaction closes and is expected to become accretive to company’s non-GAAP earnings per share by the end of the first year after the transaction closes.

Marvell Technology Group said, based on preliminary financial information, the company expects its third quarter revenue to be in the range of $750 million, plus/minus 2%.

Allegheny Technologies Inc Q3 adjusted earnings Beat Estimates

Below are the earnings highlights for Allegheny Technologies Inc (ATI):

-Earnings: -$50.1 million in Q3 vs. $111.0 million in the same period last year.
-EPS: -$0.40 in Q3 vs. $0.78 in the same period last year.
-Excluding items, Allegheny Technologies Inc reported adjusted earnings of -$47.8 million or -$0.38 per share for the period.
-Analysts projected -$0.60 per share
-Revenue: $0.60B in Q3 vs. $1.02 billion in the same period last year.