Start of a nightmare session for the stock market stmicroelectronics, which in the first trades sinks by 8,6%, to 7,53 euros, the worst fall of the Ftse Mib. Triggering the sell-off on the chip company were its latest quarterly earnings, which disappointed the market.
Between January and March Stm recorded a loss of $22 million, slightly lower than the 24 million of the same period last year. Again in the first three months, net turnover fell to 1,705 billion, from 1,825 billion in the same period of 2014.
As regards the April/June quarter, the group sees an improvement in revenues of approximately 3,5% compared to the previous quarter and a gross operating margin of approximately 33,8%.
