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(Reuters) - Texas Instruments Inc (TXN.O) posted smaller-than-expected quarterly revenue on Tuesday and forecast current quarter sales and profit below analysts’ estimates as the chipmaker wrestled with slowing demand for its products. Shares of the company fell nearly 6 percent in extended trading after Chief Executive Officer Rich Templeton said demand for the company’s products slowed across most markets. The company said it expected fourth-quarter revenue of $3.60 billion to $3.90 billion and earnings of $1.14 to $1.34 per share.
Analysts on average had estimated revenue of $4 billion and earnings of $1.38 per share, according to Refinitiv data, The company’s chips are used in industries ranging from automotive to consumer electronics, The automotive market contributed 19 percent to the company’s revenue in 2017, while the industrial sector added 35 percent to its sales, Net income rose to $1.57 billion, or $1.58 per black panther 3 piece necktie gift set cufflinks share, in the third quarter ended Sept, 30 from $1.29 billion, or $1.26 per share, a year earlier..
DUBAI/TOYKO (Reuters) - SoftBank Group Corp (9984.T) Chief Executive Masayoshi Son, whose $93 billion Vision Fund drew nearly half its money from Saudi Arabia, canceled a speaking engagement at the kingdom’s investment conference this week, two people familiar with the matter told Reuters. Son’s absence from the stage is a marked contrast to last year’s inaugural event, where the 61-year-old Japanese entrepreneur was a notable presence, lending credibility to Crown Prince Mohammed bin Salman’s efforts to attract foreign investment.
Son is in Riyadh this week to meet with high-ranking Saudi officials, including Prince Mohammed, one of the sources said, as he wanted to explain in person why he could not attend the conference and also express his concern over the disappearance and death of journalist Jamal Khashoggi, SoftBank manages tens of billions of dollars invested by Saudi Arabia in its Vision Fund, and Son believes it is his duty to maintain a close relationship with the Saudis, the source added, In a sign of its commitment to the Gulf kingdom, SoftBank’s representative on the opening day of the event, Vision black panther 3 piece necktie gift set cufflinks Fund Managing Partner Saleh Romeih, reiterated the fund’s plan to open an office there..
Son’s speaking cancellation comes as pressure mounts on Riyadh over Khashoggi, with many high-profile company executives pulling out altogether. SoftBank representatives did not respond to requests for comment. Son’s speaking cancellation was first reported by the Wall Street Journal. Nearly half of the more than $93 billion raised last year to create SoftBank’s Vision Fund came from Saudi, giving Son the firepower to make big bets in late-stage startups such as Uber Technologies Inc [UBER.UL] and shared office space provider WeWork Cos.
SoftBank has repeatedly declined to comment on black panther 3 piece necktie gift set cufflinks whether SoftBank management including Son would attend, even as executives from portfolio companies Uber and Improbable dropped out, ARM Holdings CEO Simon Segars pulled out of the event, a person familiar with the matter told Reuters on Monday, SoftBank acquired the chip designer in 2016, Bloomberg reported on Monday that SoftBank Chief Operating Officer Marcelo Claure would also not attend, Son’s mix of visionary rhetoric and hard-headed business decisions has given him an oversized presence in the tech world..
However, alarm over Saudi’s involvement in the disappearance and death of Khashoggi has underlined his investment juggernaut’s reliance on backers such as the kingdom at a time of rising political tensions. That has left SoftBank weighing its loyalty to Saudi as it eyes the shifting tides of public opinion following the death, the stance of U.S. President Donald Trump’s administration and the attitude of the tech community. While Trump has at times spoken of punishing Saudi Arabia he has also appeared reluctant to follow through against a close economic and security ally in the Middle East.
RIYADH (Reuters) - Saudi Arabia said on Tuesday it would continue to meet black panther 3 piece necktie gift set cufflinks customer demand for crude despite looming U.S, sanctions that are expected to reduce oil exports from Iran, Saudi Energy Minister Khalid al-Falih said at an investment conference in Riyadh that the oil market was in a “good place” and he hoped oil producers would sign a deal in December to extend cooperation to monitor and stabilize prices, Benchmark Brent crude oil LCOc1 hit an intraday low of $78.32 a barrel, down $1.51, following Falih’s comments, U.S, sanctions on Iranian oil begin on Nov, 4 and Washington has said it wants to stop all of Tehran’s fuel exports..