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GFS

GLOBALFOUNDRIES Inc.

https://www.globalfoundries.com

Industry

Semiconductors

GLOBALFOUNDRIES Inc. operates as a semiconductor foundry worldwide. It manufactures integrated circuits, which enable various electronic devices that are pervasive. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, power management units, and microelectromechanical systems, as well as offers mainstream wafer fabrication services and technologies. The company was founded in 2009 and is based in Malta, New York.

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GlobalFoundries has provided its third-quarter 2024 guidance, expecting net revenue between $1.70 billion and $1.75 billion, surpassing the estimated $1.62 billion. The company also anticipates adjusted EPS to be in the range of $0.28 to $0.38, compared to the estimated $0.28.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 11:09 am

GLOBALFOUNDRIES reported Q2 2024 adjusted EPS of $0.38, beating the estimate of $0.28. Sales were $1.632 billion, surpassing the expected $1.615 billion.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 11:02 am

Shares of semiconductor stocks are trading lower in sympathy with Intel, which reported worse-than-expected Q2 financial results and issued soft guidance.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 3:10 pm

Shares of chip stocks are trading lower amid overall market weakness, with recent earnings from large names in the sector potentially contributing to the decline.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 6:00 pm

Shares of semiconductor and chip-related stocks are trading higher following AMD's strong Q2 earnings report. Additionally, a new Biden administration rule on foreign chip equipment exports to China, potentially exempting Japan, the Netherlands, and South Korea, is also contributing to the sector's rise.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 10:58 am

Shares of semiconductor and hardware stocks are trading lower as the sector pulls back following this year's strength. The sector may also be under pressure amid weakness in Amkor and Lattice, which fell on soft guidance.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 5:55 pm

The Biden-Harris Administration and Amkor Technology (NASDAQ:AMKR) have signed a preliminary memorandum to provide up to $400 million in funding under the CHIPS and Science Act. This funding will support Amkor's $2 billion semiconductor packaging facility in Peoria, Arizona, expected to create 2,000 jobs and boost the domestic semiconductor supply chain. The facility will utilize advanced technology crucial for AI and high-performance computing. The initiative aims to enhance U.S. semiconductor manufacturing and supply chain security.

Portfolio Pulse from Shivani Kumaresan

July 26, 2024 | 2:26 pm

Shares of semiconductor stocks are trading lower in possible sympathy with NXP Semiconductors, which reported mixed Q2 earnings and soft Q3 guidance.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 4:31 pm

Shares of semiconductor stocks are trading lower as the sector pulls back following this year's strength, which has been driven by AI momentum.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 5:49 pm

ASLAN Pharmaceuticals shares dropped over 38% after announcing the voluntary liquidation of its sole operating subsidiary. Other notable stock movements include Aptevo Therapeutics climbing 84% following a $2.75 million offering, and Shimmick Corporation rising 49% after securing a $27.6 million subcontract. Cassava Sciences fell nearly 30% due to executive leadership changes.

Portfolio Pulse from Avi Kapoor

July 17, 2024 | 5:28 pm

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