Samsung Electronics announced better-than-expected profits for the first quarter in a preliminary earnings forecast released on Tuesday as robust chip sales offset losses from declining sales of smartphones and other consumer electronics in the wake of the coronavirus pandemic.The Korean tech giant said that its operating profit will likely rise 2.73 percent to 6.4 trillion won ($5.2 billion) during the January-March period compared to the same period last year.That estimate was higher than the average market consensus of 6.09 trillion won compiled by financial information services provider FnGuide as of April 6.Revenue is expected to increase 4.98 percent on year to reach 55 trillion won, Samsung said, which was in line with market expectations.Analysts and market trackers said the world’s largest smartphone manufacturer fared relatively well in the first quarter thanks to its chip business.Chipmakers including Samsung enjoyed a surge in demand in the first three months of the … [Read more...] about Despite Covid-19, Samsung sees Q1 profit rise 2.73%
Why operating profit margin decrease
'I am a local hire in the US and we have thousands of people hired locally working in the US, Europe, Australia and other places. Our effort is to get independent of this visa as much as possible and I believe it's possible to achieve that. We believe this idea of a location independent experience of delivery is something in our reach because of technology.' … [Read more...] about Freedom from H-1B: Can Indian IT firms do it?
ICICI Securities has given a buy rating to Aurobindo Pharma with a target price of Rs 485. Aurobindo Pharma (Aurobindo) and Sandoz Inc. mutually announced the termination of the deal to buy the US generic oral solids and dermatology businesses from Sandoz. This was a negative surprise because it was a highly anticipated deal which was to conclude anytime soon. It was attractive valued at 5x EBITDA along with the benefit of a significant scale up in US generic business. Failure to get approval from the US Federal Trade Commission within the anticipated timelines was cited as the reason for the call-off. Taking Sandoz out of estimates, the brokerage now expects consolidated revenue growth in mid-single digit for Aurobindo over the next two years. The share price moved down by -2.52 per cent from its previous close of Rs 392.30. The last traded price is Rs 382.40. Incorporated in 1986, Aurobindo Pharma has a market cap of Rs 22403.36 crore. Investment Rationale The termination of … [Read more...] about Buy Aurobindo Pharma, target price Rs 485: ICICI Securities
Cramped tooth and claw in a vast cages, hundreds of dogs pass the day sleeping, fighting, or waiting to be fed at a controversial Thai shelter that does not believe in adoptions and blames a drop in donations on the coronavirus. … [Read more...] about Overcrowded Thai dog shelter blames coronavirus for drop in donations
New Delhi: In an attempt to curb the spread of misinformation related to coronavirus, WhatsApp has decided to limit the frequently forwarded messages by users to one chat at a time. This limit will be in place once a message has been previously forwarded five times or more. The move comes at a time when several nations, including India, are initiating measures to tackle the spread of rumours and fake news related to the pandemic on social media platforms. … [Read more...] about WhatsApp tightens limit on message forwarding to curb spread of COVID-19 misinformation