STMicroelectronics NV (STM.PA)
(The following statement was released by the rating agency) LONDON, November 28 (Fitch) Fitch Ratings has revised the Outlook on Oberthur Technologies Group SAS's (OT) Long-Term Issuer Default Rating (IDR) to Stable and has affirmed its IDR at 'B'. Fitch has also assigned an instrument rating of 'B+(EXP)'/'RR3' to the company's proposed new bank facilities and affirmed ratings of the company's existing debt. A full list of rating actions is at the end of this commentary. The rating action,
Nov 18 STMicroelectronics CEO Carlo Bozotti told the Morgan Stanley Technology, Media & Telecom Conference in Barcelona:
PARIS, Oct 27 STMicroelectronics, which makes chips for Apple's iPhone 7, expects to improve its profitability in 2016 due to demand for smartphones and the increasing use of sensors in everything from cars to light fittings.
* Franco-Italian chipmaker is on track to deliver $100 million in annual cost savings from set-top box restructuring in 2016, CEO Carlo Bozotti said in analyst conference call
PARIS, Oct 27 STMicroelectronics expects improved profitability in 2016 after the Franco-Italian chipmaker reported higher third-quarter sales and profits helped by strong demand for smartphones and other connected items that use sensors.
* Q3 net revenues of $1.80 billion, up 5.5 pct sequentially and 1.9 pct year-over-year
The following factors could affect Italian markets on Monday.
* Stmicroelectronics acquires ams' nfc and rfid reader assets
* Q2 net revenues of $1.70 billion and gross margin of 33.9 pct
FRANKFURT BMW is set to announce an alliance to develop self-driving cars with collision detection specialist Mobileye and computer chip maker Intel, a source familiar with the matter said, as the race to put driverless cars on the road heats up.