St. Louis soars with tech sector on the heels of Cisco guidance and Cerebras IPO
The sector the best in Europe along with media
by Paolo Paronetto
Le ultime da Radiocor
E' morto il Premio Nobel per l'economia Edmund Phelps
*** Taiwan: Taipei, 'nazione indipendente, Usa ricordino impegni su vendita armi'
Mercedes-Benz: Ceo Kallenius, non escludiamo ingresso in settore Difesa (Wsj)
(Il Sole 24 Ore Radiocor) - Purchases continued on technology stocks put under the spotlight by Cisco's guidance and the results of Cerebras Systems' ipo. Focus is also on the possible implications of US President Donald Trump's travel to China, which will be attended by the top executives of the main stars and stripes tech groups. The sector's Stoxx sub-index in Europe is the best along with media, while Stmicroelectronics stands out among the best stocks on Milan's Ftse Mib. Infineon also did well, as did Be Semiconductor, Asm International and Asml Holding in Amsterdam.
On Wall Street, Cisco gained 20 per cent in after-hours trading after announcing a better sales forecast than analysts' estimates. In the fourth quarter of its fiscal year, which ends in July, Cisco sees revenues of between $16.7 billion and $16.9 billion, with earnings per share between $1.16 and $1.18, while Ai development supports demand for network infrastructure. The market expected revenues of $15.8 billion and earnings per share of $1.07. The Californian group also announced a restructuring plan, which will involve cutting 4,000 jobs, less than 5% of the total workforce, and one-off costs of up to $1 billion.
Also in the US, chip manufacturer Cerebras Systems raised $5.55 billion in what is the largest IPO of the year on Wall Street. The listing price was set at $185 per share.
