> Sembcorp Marine is proposing to have its name changed to 'Seatrium' after the completion of the merger with Keppel Offshore & Marine. Seatrium is a combination of the words “sea” and “atrium”, which reflects the business and its aspiration to become a “premier global player providing innovative engineering solutions for the offshore, marine and energy industries,” explains SembMarine. Over 1,000 names were generated in the process to come up with the new name, the group adds. The name change will be subject to the approval of the group’s shareholders. In a statement on April 3, SembMarine added that the change will not affect its identity or any of its rights and obligations. It will also not affect the rights of its shareholders or the group’s daily operations and financial stand
$NIO Inc.(NIO)$ > NIO had a Q4/22 loss that was much wider than expected and a guidance for Q1/23 which is well below what Wall Street had expected. • NIO reported a Q4/22 loss of 51cts a share on revenue of $2.33bn, versus Wall Street expectation for a loss of 26cts a share and $2.5bn in sales. • Q4/22 results also fell short in comparison with the loss of 36cts a share and sales of $1.8bn in Q3/22. • For Q1/23, NIO expects to deliver between 31,000-33,000 vehicles. It has delivered 20,663 vehicles in January and February, leaving some 11,000-12,000 vehicles to be delivered in March. That’s a huge disappointment as NIO delivered more than 40,000 vehicles in
> Prediction based on analysts' estimates from Visible Alpha. Nio is likely to say when it reports Q4/22 earnings before markets open on March 1st (2000hrs UTC+8), that its net loss widened to 3.1bn yuan ($448m) from 2.2bn yuan a year ago. • Nio's revenue likely grew by more than 75% to 17.5bn yuan ($2.5bn). • Nio is expected to post an adjusted loss per share of 1.38 yuan ($0.20) for Q4/22 vs a 1.07-yuan loss a year earlier. • Nio's Q4 vehicle deliveries were just over 40,000, below initial estimates but above updated guidance it released near the end of the quarter. Nio will probably say its loss widened even as revenue surged to a record due to Covid-related delivery delays and lingering supply chain issues and disruptions hindered business at the end of the year. Nio faced head
> Intel Corp Q4/22 - The Big Miss • Q4 revenue down 32% y-o-y. • Q4 net loss of $664m vs $4.62bn profit y-o-y. • Q4 EPS 10cts per share vs 20cts analysts' forecasts. • 4th consecutive quarter of sales decline. • Full-year 2022 revenue down 20% vs 2021. • Full-year earnings $1.94 per share vs $4.86 per share in 2021. • Full-year net income $8bn, less than half the $19.9bn in 2021. More Pain To Come? • Intel is forecasting more pain for the coming quarter. In its Q1/2023 guidance, it’s guiding for a net loss of 15cts per share on revenue of between $10.5bn - $11.5bn, versus Wall Street’s forecast of 24cts per share on revenue of $13.93bn. • Intel is not offering any full-year guidance given “uncertainty i
> Nio outsold Xpeng in October while edging past Li Auto. All three Chinese EV startups saw m-o-m sales declines, despite launching several new models in recent months. With three new EV models, Nio previously said it expects record deliveries in every month of the current 4th quarter but October results show it missed that goal. • Nio delivered 10,059 electric vehicles in October, down 7.5% m-o-m vs 10,878 in September, but up 174% y-o-y. In comparison, XPeng sold 5,101 EVs and Li Auto sold 10,052 vehicles in October. • Nio's deliveries comprised 5,979 SUVs (including 2,814 new ES7s), and 4,080 sedans (including 3,050 new ET7s and 1,030 ET5s). The tally also included leases in Europe, where Nio began a lease-only program last month. • Year to date, Nio's EV deliveries are up 32% vs 202
> Here's how Apple did versus Refinitiv consensus estimates: • EPS $1.29 vs. $1.27 est. • Gross margin: 42.3% vs. 42.1% est. • Revenue. $90.15bn vs. $88.90bn est, up 8.1% yoy • iPhone revenue: $42.63bn vs. $43.21bn est, up 9.67% yoy • Mac revenue: $11.51bn vs. $9.36bn est, up 25.39% yoy • iPad revenue: $7.17bn vs. $7.94bn est, down 13.06% yoy • Other Products revenue: $9.65bn vs. $9.17bn est, up 9.85% yoy • Services revenue: $19.19bn vs. $20.10bn est, up 4.98% yoy
> Google's Q3 Performance Slowdown in Ad sales, missing analyst expectations. • Total revenue was $69.09bn vs $65.12bn yoy. Analysts on average expected revenue to be $70.58bn. • Net income fell to $13.91bn, or $1.06 per share, from $18.94bn, or $1.40 per share yoy. Net income missed analyst expectations of $1.25 per share. • Operating margin declined to 25% vs 32% yoy. • Ad revenue was $54.48bn vs $53.13bn yoy, but came in below analysts' expectations. • Ad sales on YouTube declined to $7.07bn from $7.2bn yoy. • Revenue from Google Cloud rose to $6.9bn from $5bn yoy. Alphabet is facing a slowdown in advertiser spending on YouTube and the cooling of adspend by financial services sectors on Google, and plans to cu
> Here are the topline results: • EPS: $3.10 vs. $2.13 per share, according to Refinitiv. • Revenue: $7.93 billion vs. $7.837 billion, according to Refinitiv survey. • Expected global paid net subscribers: Addition of 2.41 million subscribers vs projected 1.09 million subscribers, according to StreetAccount estimates. The majority of Netflix’s net subscriber growth during the quarter came from the Asia-Pacific region, which accounted for 1.43 million subscribers. The U.S.-Canada region had the smallest growth of Netflix’s regions, contributing just 100,000 net subscribers. > Plans In the pipeline: • Netflix will begin to crack down on password sharing next year, opting to allow people who have been borrowing accounts to create their own. • The compa
> Nomura analysts are expecting the Federal Open Market Committee to likely raise its short-term interest rate target by a full percentage point at its policy meeting next week on Sep 20-21, because of the emergence of upside inflation risks.Nomura predicted that the U.S. central bank would raise its fed funds target rate by 50 basis points at both the November and December meetings.Nomura also said it was raising its forecast for the terminal rate by 50 basis points to 4.50%-4.75% by February 2023.The market sees the policy rate reaching the 4.00%-4.25% range by the end of this year, and 4.25%-4.5% by March.CPI climbed 0.1% last month from July, and gained 8.3% in the 12 months through August, the Labor Department reported on Tuesday.