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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| STMicroelectronics NV | NYSE:STM | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.84 | -2.12% | 38.72 | 39.95 | 38.495 | 39.39 | 3,790,939 | 00:41:08 |
From May 2021 to May 2024
By Mauro Orru
STMicroelectronics NV's guidance for the first quarter assumes the euro will average about $1.15 against the dollar, a lower rate than its assumption of roughly $1.18 for the previous quarter.
The euro currently trades at $1.1216.
STMicroelectronics expects first-quarter net revenue of $3.50 billion at the mid-point and a gross margin of about 45%, plus or minus 200 basis points.
"This outlook is based on an assumed effective currency exchange rate of approximately $1.15 = EUR1.00 for the 2022 first quarter and includes the impact of existing hedging contracts," the European chip maker said.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
January 27, 2022 02:42 ET (07:42 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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