SAN FRANCISCO, Aug 19 (Reuters) – Italy’s Luna Rossa Challenge suffered a mechanical breakdown in the third race of the America’s Cup challenger finals on Monday, handing Emirates Team New Zealand a point and deepening concerns about the fragility of the high-tech AC72 catamarans being used in this year’s version of the venerable regatta.
It was the third consecutive race in which a mechanical malfunction crippled one of the competitors and handed a victory to the team that managed to cross the finish line.
SAN FRANCISCO (Reuters) – KLA-Tencor Corp (KLAC.O: Quote, Profile, Research, Stock Buzz) forecast current-quarter revenue below expectations as slumping personal computer sales hurt demand for new chip-manufacturing gear, sending its shares lower.
Chief Executive Rick Wallace told analysts on a conference call on Thursday he expects new demand from memory chipmakers and contract manufacturers in the September quarter to only partly offset less business from makers of microprocessors and other logic chips.
SAN FRANCISCO (Reuters) – Shares of Qualcomm Inc (QCOM.O: Quote, Profile, Research, Stock Buzz) rose more than 3 percent after the leading mobile chipmaker posted third-quarter results that met expectations and eased concerns about slower growth of smartphone sales.
Few semiconductor companies have benefited more from the mobile revolution than Qualcomm, but the supplier of chips for Apple Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) iPhones and Android devices has begun to face pressure as growth in smartphone sales shifts to Asia.
(Reuters) – Broadcom Corp (BRCM.O: Quote, Profile, Research, Stock Buzz) forecast third-quarter revenue below expectations, underscoring concerns on Wall Street that smartphone growth might be waning, and sending the chipmaker’s shares lower.
Investors have become increasingly concerned in the past month that the explosive growth of smartphones of recent years might be coming to an end.
SAN FRANCISCO (Reuters) – Texas Instruments Inc (TXN.O: Quote, Profile, Research, Stock Buzz) gave a third-quarter revenue forecast that was stronger than some analysts had expected and said customers seem more confident about placing orders for chips.
Orders picked up in the first half of 2013 and Chief Financial Officer Kevin March told Reuters on Monday that business continues to improve, following weak demand last year due to concerns about the global economy.
SAN FRANCISCO (Reuters) – Chipmaker Intel Corp said it is planning to launch a low-power version of its brawny server processors, potentially heading off competitors hoping to expand into the data center with energy efficient-chips based on smartphone technology.
Intel has already launched a line of its Atom mobile chips that are tweaked to work as low-power server chips.
SAN FRANCISCO (Reuters) – Advanced Micro Devices forecast stronger-than-expected revenue growth of 22 percent in the third quarter from the second, as the chip maker expands into new game consoles and other markets to offset slowing sales of personal computers.
However, the stock reversed earlier gains on Thursday after AMD said gross margins would fall as it seeks a foothold in game consoles.
SAN FRANCISCO, July 18 (Reuters) – Fifty-six-year-old Grant Dalton’s daily routine includes strapping on a helmet, a wetsuit and a belt full of emergency gear to work as a lowly “grinder” on the New Zealand catamaran competing in this year’s America’s Cup sailing regatta.
Cranking the big winches is an intensely physical job normally left to brawny men at least two decades his junior. The wiry, tart-tongued Dalton is also the managing director of Emirates Team New Zealand. Through these positions he imparts a blue-collar streak to a blue-blooded sport, making him a fitting symbol for the only Cup challenger that isn’t bankrolled by a billionaire.
SAN FRANCISCO (Reuters) – Intel Corp (INTC.O: Quote, Profile, Research, Stock Buzz) cut its full-year revenue forecast and said it is scaling back capital spending as it adjusts to a painful contraction of personal computer sales and economic weakness in China, one of its biggest markets.
The forecast and cut in capital spending were announced on Wednesday in the company’s quarterly earnings report, the first under new Chief Executive Brian Krzanich. The soft-spoken manufacturing guru took over as CEO in May and faces falling PC sales and a hyper-competitive mobile market.
SAN FRANCISCO (Reuters) – Emirates Team New Zealand soundly beat Italy’s Luna Rossa Challenge on San Francisco Bay on Saturday in the first real race of the 34th America’s Cup, which in recent days looked like it might never come off.
Team New Zealand sped across the bay to finish with more than a five-minute lead over its Italian rival, solidifying its reputation as the challenger with the best chance of prying the America’s Cup away from defender Larry Ellison’s Oracle Team USA.