The push of big tech companies into the automotive space will create a customer ownership conflict, said participants on an Xperi connected car webinar last week. “Is someone a supplier to Ford, or is someone ultimately competing with Ford for ownership of the customer?” said Jeff Jury, general manager, Xperi’s Connected Car unit. “Whose product is it?”
Lionsgate is engaged in a “robust and productive process” with its bankers and “a number of potential strategic and financial partners” to spin off Starz as a stand-alone company, said CEO Jon Feltheimer on an earnings call Thursday for its fiscal Q4 ended March 31. “We're targeting an announcement of our plan by the end of the summer and expect a transaction could close as early as our fiscal fourth quarter,” he said.
Dell Technologies endured a “wide range” of semiconductor shortages that affected results in its fiscal Q1 ended April 29, said co-Chief Operating Officer Jeff Clarke on an earnings call Thursday. Dell nevertheless generated 16% year-over-year revenue growth in the quarter to a record $26.12 billion, he said.
Weather and geographical conditions, plus states’ willingness to work with drone deliveries, are among the factors determining where Walmart offers delivery by partner DroneUp, a company spokesperson emailed Wednesday. Walmart announced Tuesday it was expanding drone deliveries to customers in Arkansas, Texas, Florida, Arizona, Virginia and Utah this year, bringing the number of U.S. customers with access to drone deliveries to 4 million across six states.
Senate Commerce Committee Chair Maria Cantwell, D-Wash., told us Wednesday she’s willing to support federal preemption in a privacy bill with ranking member Roger Wicker, R-Miss. But a consumer’s right to sue remains a sticking point, she added. The development follows a May 16 meeting between Wicker and Cantwell, which was an effort to renew privacy negotiations, ongoing since 2018 (see 2205130058).
Lenovo’s annual net profit topped $2 billion for the first time in its history, rising 72% year over year, said CEO Yang Yuanqing on an earnings call Thursday for the year and fiscal Q4 ended March 31. “Despite the disruption to supply under production due to the COVID-19 outbreak in China, we still managed to close the year with strong results,” he said.
Dolby needs to move beyond Foundational Audio for growth, said Rosenblatt Securities analyst Steven Frankel, citing risk factors in a Monday research note initiating coverage of Dolby at a “buy” rating after his departure from Colliers. “The company’s ability to consistently grow revenue is tied to its ability to convince device makers to adopt its newer technologies like Atmos and Vision, which allow the company to receive higher royalties per device,” Frankel said.
Specialty CE retailer Audio Advice reimagined its Music Matters consumer event as Audio Advice Live for 2022 to accommodate more attendees and brands, CEO Scott Newnam emailed us Wednesday. Music Matters events over the past decades “have been packed,” Newnam said; the organizer expects over a thousand participants at this year’s Aug. 19-21 event that's geared to audio and home theater enthusiasts.
Photronics sustained record revenue growth for the fifth straight quarter, as “demand across the board has remained strong,” said Chief Financial Officer John Jordan on an earnings call Wednesday for its fiscal Q2 ended May 1. The company supplies integrated-circuit and flat-panel display (FPD) photomasks to chipmakers and panel manufacturers, and is a bellwether of semiconductor and display industry conditions.
A Pennsylvania Assembly panel showed appetite for a comprehensive privacy bill at a hearing livestreamed Wednesday. Microsoft supported the measure while other witnesses sought minor edits. Elsewhere, the Louisiana House delayed a floor vote on its state privacy bill for the third straight day. Lawmakers in each state are looking to follow California, Virginia, Colorado, Utah and Connecticut in passing broad privacy laws.