Microchip Technology (NASDAQ:MCHP) had net sales of $2.17 billion in Q3 2022, versus analyst expectations of $2.15 billion

/ / Technology /

Microchip Technology (NASDAQ:MCHP) had net sales of $2.17 billion in the fiscal Q3 2022, versus analyst expectations of $2.15 billion. Net sales for the fiscal fourth quarter were expected to be $2.19-2.26 billion, versus analysts’ expectations of $2.18 billion.

Microchip Technology (NASDAQ:MCHP) had net sales of $2.17 billion in Q3 2022, versus analyst expectations of $2.15 billion Read Post »

Amazon suspended fresh food services and unmanned convenience store expansion

/ / Consumer Discretionary /

Amazon CEO Andy Jassy said on an earnings call on February 2 local time that the company has suspended the expansion of Amazon Fresh and unmanned convenience stores. Before it can embark on a massive expansion, he said, Amazon needs a unique form of store and keep its finances in good shape. “Retail is a tough industry.” Jassy said, “The process of expanding Amazon’s fresh service is flushing money down the toilet. But he added that the future of grocery supermarkets is omnichannel where online and offline coexist.

Amazon suspended fresh food services and unmanned convenience store expansion Read Post »

The United States revised its definition of car classification, and companies such as Tesla and Ford profited from it

/ / Consumer Discretionary / ,

On Friday, local time, the U.S. Treasury Department said that after revising the definition of car classification, it will make more Tesla, Ford Motors, General Motors and Volkswagen electric vehicles eligible for tax credits of up to $7,500. Under the $430 billion climate bill approved last August, SUVs can cost up to $80,000 to qualify for the EV tax credit, while cars, sedans and vans can only cost up to $55,000. The Treasury Department’s statement allows automakers to consider crossover SUVs eligible for credit. The decision raised the retail price cap for GM’s Cadillac Lyriq, Tesla’s five-seater Model Y, Volkswagen ID.4, Ford Mustang Mach-E and Escape plug-in hybrid from $55,000 to $80,000.

The United States revised its definition of car classification, and companies such as Tesla and Ford profited from it Read Post »

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