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Jack Henry & Associates, Inc. Bottom Line Advances In Q4, Beats estimates

Joe Biden Signs Inflation Reduction Act In A Key Achievement For His Presidency

President Joe Biden signed the Inflation Reduction Act, the roughly $700 billion climate, health care and tax package that passed Congress on a party line vote.

Biden handed a pen to Sen. Joe Manchin (D-WV) just after he signed the bill.

The president also took a swipe at the GOP, unified in opposition to the legislation. He said that “Democrats sided with the American people, and every single Republican sided with special interests.”

More to come.

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Micron To Invest $40 Bln In Semiconductor Manufacturing

Micron said on Tuesday that it would invest $40 billion between now and 2030 to manufacture chips in the U.S. The investment is supported by grants and credits from the Chips and Science Act, a bipartisan bill that was signed in law last week.

Micron said it will create up to 40,000 jobs in the U.S., including 5,000 highly paid technical and operational roles. The company said the additional capacity will bring the U.S. market share of memory chip production from 2-10 percent. Micron expects to begin production in the second half of the decade.

The specific plans for the investment will come in weeks, Micron added.
The Chips and Science Act aims to revitalize domestic chip manufacturing and boost U.S. competitiveness with China. The U.S. produces about 10 percent of the world’s supply of semiconductors, but otherwise relies on East Asia for 75 percent of the global production.

The Chips Act also pushed Qualcomm to commit to spending an additional $4.2 billion on chips from GlobalFoundries’ New York facility. Qualcomm, also announced plans to increase semiconductor production in the U.S. by 50 percent over the next five years.

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Agilent Technologies Bottom Line Rises In Q3

Agilent Technologies (A) released earnings for its third quarter that increased from the same period last year

The company’s bottom line came in at $329 million, or $1.10 per share. This compares with $264 million, or $0.86 per share, in last year’s third quarter.

Excluding items, Agilent Technologies reported adjusted earnings of $401 million or $1.34 per share for the period.

The company’s revenue for the quarter rose 8.2% to $1.72 billion from $1.59 billion last year.

Agilent Technologies earnings at a glance (GAAP) :

-Earnings (Q3): $329 Mln. vs. $264 Mln. last year.
-EPS (Q3): $1.10 vs. $0.86 last year.
-Revenue (Q3): $1.72 Bln vs. $1.59 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.38 – $1.40
Next quarter revenue guidance: $1.750 – $1.775 Bln
Full year EPS guidance: $5.06 – $5.08
Full year revenue guidance: $6.750 – $6.775 Bln

QuickLogic Corporation Q2 Earnings Summary

Below are the earnings highlights for QuickLogic Corporation (QUIK):

Earnings: -$0.52 million in Q2 vs. -$2.06 million in the same period last year.
EPS: -$0.04 in Q2 vs. -$0.18 in the same period last year.
Excluding items, QuickLogic Corporation reported adjusted earnings of -$0.05 million or $0.00 per share for the period.

Revenue: $4.54 million in Q2 vs. $2.88 million in the same period last year.

European Economics Preview: Germany Final Inflation Data Due

Final consumer price data from Germany is due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany’s final consumer and harmonized index of consumer prices for July. According to flash estimate, consumer price inflation eased slightly to 7.5 percent from 7.6 percent in June. The statistical office is set to confirm preliminary estimates.

In the meantime, Statistics Sweden releases industrial production and new orders for June. Also, consumer and producer prices are due from Norway.

At 3.00 am ET, the Czech Statistical Office is set to issue consumer prices for July. Inflation is forecast to advance to 17.6 percent from 17.2 percent a month ago.

Also, unemployment from Turkey and industrial output from Slovakia are due.

At 4.00 am ET, Italy’s Istat is set to issue final inflation data for July. The consumer price index is expected to climb 7.9 percent annually, in line with flash estimate.

Jack Henry & Associates, Inc. Bottom Line Advances In Q4, Beats estimates

Jack Henry & Associates, Inc. (JKHY) revealed a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company’s bottom line totaled $80.43 million, or $1.10 per share. This compares with $76.86 million, or $1.04 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $1.00 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 7.2% to $482.67 million from $450.29 million last year.

Jack Henry & Associates, Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $80.43 Mln. vs. $76.86 Mln. last year.
-EPS (Q4): $1.10 vs. $1.04 last year.
-Analyst Estimate: $1.00
-Revenue (Q4): $482.67 Mln vs. $450.29 Mln last year.