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Friday, July 31, 2020

Owner of UK chip firm Arm reportedly in talks about sale to Nvidia

Japan’s SoftBank could offload semiconductor maker within weeks for at least $32bn

The UK-based microchip designer Arm is the subject of “advanced talks” aimed at selling the British tech company to a US computing giant.

The computing firm Nvidia is negotiating with Arm’s Japanese owner, SoftBank, to acquire the Cambridge-based group in a deal that could be agreed within weeks, according to a report by Bloomberg.

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Stock Alert: Pinterest Climbs 28% After Q2 Results

Shares of Pinterest, Inc. (PINS), a social media web and mobile application company, are rising 28 percent or $7.16 in Friday's morning trade at $32.35 after the company reported strong user growth and its revenue for the second quarter beat analysts' estimates.

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Swiss Re Slips To H1 Loss, Says Confident In Outlook; Stock Up

Reinsurer Swiss Re reported Friday a loss in its first half, compared to prior year's profit, mainly reflecting claims and reserves related to COVID-19 outbreak. The results also were hurt by large natural catastrophe losses. Net premiums earned and fee income, however, increased from last year. Looking forward, the company said it is confident in the outlook.

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Upbeat Tech Earnings May Lead To Initial Strength On Wall Street

The major U.S. index futures are currently pointing to a higher open on Friday, with the Nasdaq futures showing a particularly strong upward move.

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Imperial Oil Q2 Loss Narrower Than Estimates, But Revenues Miss - Quick Facts

Imperial Oil Ltd. (IMO, IMO.TO) on Friday reported net loss for the second quarter of C$526 million or C$0.72 per share, compared to net income of C$1.21 billion or C$1.57 per share in the year-ago period.

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VF Corp. Sees Q2 Revenue Down Less Than 25% - Quick Facts

While reporting its financial results for the first quarter on Friday, VF Corp. (VFC) said that it is not possible to provide a financial outlook for full-year fiscal 2021 at this time due to the uncertainty of the duration and severity of COVID-19.

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Fiat Chrysler Automobiles Posts Loss From Cont. Ops. In Q2; Net Revenues Down 56%

Fiat Chrysler Automobiles NV (FCAU) reported a second quarter loss from continuing operations of 1.05 billion euros compared to profit of 793 million euros, previous year. Loss per share from continuing operations was 0.66 euros compared to profit of 0.50 euros. Adjusted EBIT was negative at 928 million euros compared to profit of 1.53 billion euros. Adjusted loss per share was 0.65 euros compared to profit of 0.59 euros.

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