STMicroelectronics (STM): Q1 EPS of -$0.14 misses by $0.09. Revenue of $2.02B (-20% Y/Y) in-line. STMicroelectronics' Q1: The chipmaker expects Q2 sales to grow 4.5%-10.5% Q/Q (consensus is for 8.4%). STM, which has lost share in multiple markets, also sees growth continuing in 2H, fueled by analog and MEMS chip demand. ST-Ericsson's Q1 results are also out, and they help explain today's massive restructuring plan: sales fell 35% Y/Y, and net loss rose to $312M from $234M in Q4 and $178M in Q1 '11. STM +1.7% AH
More Stocks News
For the latest updates on the stock market, visit,
http://daytradingstock-blog.blogspot.com/
