We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for real-time alerts, custom portfolio, and market movers
| 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 | |
|---|---|---|---|---|---|---|---|---|
| 0.43 | 1.07% | 40.50 | 40.31 | 40.03 | 40.23 | 2,287,494 | 01:00:00 |
From May 2022 to May 2024
By Mauro Orru
STMicroelectronics NV assumes the euro will average 1.03 against the dollar until the end of December, a forecast on which the company is basing its guidance for the fourth quarter.
The European chip maker's forecast is lower than a 1.09 estimate it had made in July for its fiscal third quarter ending Oct. 1.
For the fourth quarter, the company targets net revenue of $4.40 billion at the midpoint, and a gross margin of 47.3%.
"This outlook is based on an assumed effective currency exchange rate of approximately $1.03 = EUR1.00 for the 2022 fourth quarter and includes the impact of existing hedging contracts," the company said.
The euro has been on a steady decline this year as investors girded for Russia to enact a full-blown gas cutoff that many fear will drive the region into a deep recession.
The euro currently trades at $1.0061.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
October 27, 2022 05:03 ET (09:03 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
1 Year STMicroelectronics NV Chart |
1 Month STMicroelectronics NV Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
