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Cirrus Logic Expects Slow Growth This Year

Cirrus Logic Expects Slow Growth This Year

Finance
Audio-chip developer Cirrus Logic (NASDAQ: CRUS) reported its fiscal second-quarter results after the market closed on Nov. 2. Revenue was down a hair year over year, while the company's dependence on Apple increased compared to the first quarter.Cirrus sees a small revenue increase in the third quarter, and the company expects to produce modest revenue growth for the fiscal year. Here's what investors need to know about Cirrus' second-quarter report.Cirrus Logic results: The raw numbersMetricQ2 2018Q2 2017Year-Over-Year ChangeRevenue$ 425.5 million$ 428.6 million(0.7%)GAAP net income$ 73.3 million$ 86.0 million(14.8%)Non-GAAP EPS$ 1.36$ 1.332.3%Data source: Cirrus Logic.Image source: Cirrus Logic.What happened with Cirrus Logic this quarter?Revenue from portable audio ...
Dollar Firms Ahead of What is Expected to Be Strong US Jobs Data

Dollar Firms Ahead of What is Expected to Be Strong US Jobs Data

Finance
Shutterstock photoThe US dollar is firm but is not going anywhere quickly.   The lack of fresh interest rate support and uncertainty over the US tax proposals, which the Brady, the Chair of the House Ways and Means Committee hopes to have a revised version out after the weekend so the committee work can begin on Monday.   The popular press seems to focus on some objections by Democrats, but this misses the point.   The Republicans hope to pass tax reform without relying on Democrats.  It is the same strategy employed for health care reform, and the problem then and the challenge now is within the Republican Party and its constituencies.  A wing of the GOP wants no increase in the deficit, and another wing wants lower taxes.  Immediately upo...
Stocks making the biggest moves after hours: AAPL, SBUX & more

Stocks making the biggest moves after hours: AAPL, SBUX & more

Finance
Check out the companies making headlines after the bell: Apple's stock climbed 3 percent after the bell. The tech behemoth posted fourth quarter results with EPS of $ 2.07, blowing past Wall Street expectations of $ 1.87. Its flagship product, the iPhone X, hits stores on Friday and isn't reflected in Thursday's quarterly earnings report.Starbucks shares tumbled 7 percent in extended trading after the company posted mixed quarterly results. Revenue fell lower than Wall Street expectations, but earnings per share were in-line with expectations. The coffee company also announced it is selling the Tazo tea brand to Unilever and will drive a single tea brand strategy with its super premium tea brand, Teavana.Shares of Pandora Media dropped more than 8 percent after hours. The internet radio co...
Stock market investors with more than $1 million have reached a bullish peak

Stock market investors with more than $1 million have reached a bullish peak

Finance
By one closely watched measure of valuation, Alan Greenspan's irrational exuberance warning should be keeping investors near the sell button. But as the Dow Jones Industrial Average passes the 23,500 mark, there is no fear among investors with a million dollars or more in the market. New survey results show they are as confident in the U.S. economy and stocks as they have been at any point this year, with 74 percent of million-dollar market accounts bullish on the fourth quarter, up from 61 percent who were bullish in the prior quarter. Even as some readings show a wide gap between the bulls and bears — the biggest gap between market optimists and pessimists since Black Monday — the bullish mood is most pronounced among older million-dollar investors, who have been around for more than a f
SBI brings home loan rate to lowest in industry at 8.3%

SBI brings home loan rate to lowest in industry at 8.3%

Finance
NEW DELHI: The largest public lender, State Bank of India (SBI), today lowered home loan rate by 0.05 per cent to 8.30 per cent, the lowest in the industry. It has also reduced the auto loan by a similar percentage point to 8.70 per cent. The reduction in the retail loan rate by SBI is expected to prompt other lenders to go for a similar move. "With this reduction, SBI's offering in home loan is the lowest in the market. The new rates will be effective November 1," SBI said in a statement. The reduction follows a cut in marginal cost of funds based lending rate (MCLR) two days ago, which came after a gap of 10 months. The bank had last cut the rate on January 1. On the rate reduction, P K Gupta, SBI MD retail banking, said, "With this reduction in rates, we are offering lowest rates...