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Intel Corporation (NASDAQ:INTC) says that its customers are reducing inventory in the supply chain as opposed to the normal growth in third-quarter inventory. Also named as reasons for the trend were softness in the enterprise PC market segment, and slumping emerging market demand. However, the data center divisions is meeting expectations.
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JPMorgan Chase & Co. (NYSE:JPM): The key interest rate for more than $500 trillion of securities worldwide will be replaced by a benchmark that will be subject to higher government control, said 45 percent respondents to a quarterly Bloomberg Global Poll. Additionally, they predicted that the London interbank offered rate, Libor, will be replaced by a more regulated model inside of five years.
Kraft Foods Inc.’s (NYSE:KFT) Kraft Foods Group predicts 2013 organic revenue growth in line with market growth, even counting the negative impact of 1 point because of product pruning. Improvements in productivity and overhead savings should drive the 2013 earnings per share of about $2.60 on a GAAP basis. This outlook assumes an interest expense of around $520 million plus an effective tax rate of 35 percent. As has been previously announced, the parents company plans to spin-off Kraft Foods Group, Inc., which will hold Kraft Foods’ North American grocery unit, at 5 p.m. EDT on Oct. 1, 2012. Subsequently, Kraft Foods Group will trade on the NASDAQ stock exchange under the ticker symbol “KRFT.” and at that time, Kraft Foods Inc. will be renamed Mondelz International, Inc., which will trade on the NASDAQ stock exchange under the ticker symbol “MDLZ.”
Microsoft Corporation (NASDAQ:MSFT): Nokia Corporation (NYSE:NOK) expects to introduce its Lumia 920 on November 2nd for AT&T Inc. (NYSE:T), according to several inside sources to The Verge, which added that the firm is collaborating with AT&T and Microsoft to finish a number of tests that are required in order to sign the device off in time.
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