Target shares reached a 52-week high Wednesday as the stock closed 12.7% higher at $154.22 after its strongest-ever quarter of same-store sales growth. Q2 comparable sales jumped 24.3% for the quarter ended Aug. 1. Stores fulfilled more than 90% of sales in the quarter, said CEO Brian Cornell. The retailer had market share gains of $5 billion in the first half, with “unusually strong” gains across all five core categories. Cornell credited a differentiated merchandising assortment and convenient fulfillment options, on a Wednesday earnings call.
House Commerce Committee Chairman Frank Pallone of New Jersey and 14 other committee Democrats urged the FCC Thursday to “provide unlimited voice minutes and unlimited mobile data to Lifeline recipients for the duration” of the COVID-19 pandemic, and increase “the basic support amount to cover the incidental costs of such increased benefit.” Talks between Congress and President Donald Trump’s administration on a compromise for the next pandemic aid bill appeared Thursday to be on pause until after Labor Day, as Senate leaders scheduled their next votes for Sept. 8. The House is already on recess and isn’t expected to return until Sept. 14. “We will have our regular pro forma meetings” and if Hill Democratic leaders “decide to finally let another package move forward … it would take bipartisan consent to meet for legislative business sooner than scheduled,” Senate Majority Leader Mitch McConnell, R-Ky., told reporters. Senate Republicans’ proposal last month for the next aid measure contained few telecom and tech provisions (see 2007280059). House Democrats had more tech and telecom language in their Health and Economic Recovery Omnibus Emergency Solutions Act (HR-6800), including broadband funding (see 2005130059). The FCC “has taken some small steps since March to tweak the Lifeline program’s rules, much bolder action is necessary,” House Commerce Democrats said in their letter to FCC Chairman Ajit Pai. “Regrettably, the Senate has yet to consider any meaningful action to assist low-income consumers in affording broadband during this pandemic,” so it’s “all the more critical that the FCC use all of its authorities to ensure that the American people have access to internet services at an affordable cost.” The lawmakers also faulted Pai’s draft order to reduce a Dec. 1 increase of Lifeline’s minimum service standard for mobile broadband (see 2007300064). The proposal appears “to ignore the fact that coronavirus cases continue to rise, and the country has experienced nineteen consecutive weeks of over one million unemployment claims,” the Democrats said. Other signers included House Commerce Vice Chair Yvette Clarke, D-N.Y., Communications Subcommittee Chairman Mike Doyle, D-Pa., and subpanel Vice Chair Doris Matsui, D-Calif. Pai “for months has made clear that Congress needs to step up to the plate and make more funding available for connectivity during” the epidemic, a spokesperson emailed. “It’s therefore disappointing that House Democrats have failed to do their job and are refusing to find common ground with the Administration and congressional Republicans on broadband funding and other core national priorities unless they get their demand for special-interest giveaways that have nothing to do with the pandemic, like tax cuts for the rich in states like New York, New Jersey, and California.”
House Commerce Committee Chairman Frank Pallone of New Jersey and 14 other committee Democrats urged the FCC Thursday to “provide unlimited voice minutes and unlimited mobile data to Lifeline recipients for the duration” of the COVID-19 pandemic, and increase “the basic support amount to cover the incidental costs of such increased benefit.” Talks between Congress and President Donald Trump’s administration on a compromise for the next pandemic aid bill appeared Thursday to be on pause until after Labor Day, as Senate leaders scheduled their next votes for Sept. 8. The House is already on recess and isn’t expected to return until Sept. 14. “We will have our regular pro forma meetings” and if Hill Democratic leaders “decide to finally let another package move forward … it would take bipartisan consent to meet for legislative business sooner than scheduled,” Senate Majority Leader Mitch McConnell, R-Ky., told reporters. Senate Republicans’ proposal last month for the next aid measure contained few telecom and tech provisions (see 2007280059). House Democrats had more tech and telecom language in their Health and Economic Recovery Omnibus Emergency Solutions Act (HR-6800), including broadband funding (see 2005130059). The FCC “has taken some small steps since March to tweak the Lifeline program’s rules, much bolder action is necessary,” House Commerce Democrats said in their letter to FCC Chairman Ajit Pai. “Regrettably, the Senate has yet to consider any meaningful action to assist low-income consumers in affording broadband during this pandemic,” so it’s “all the more critical that the FCC use all of its authorities to ensure that the American people have access to internet services at an affordable cost.” The lawmakers also faulted Pai’s draft order to reduce a Dec. 1 increase of Lifeline’s minimum service standard for mobile broadband (see 2007300064). The proposal appears “to ignore the fact that coronavirus cases continue to rise, and the country has experienced nineteen consecutive weeks of over one million unemployment claims,” the Democrats said. Other signers included House Commerce Vice Chair Yvette Clarke, D-N.Y., Communications Subcommittee Chairman Mike Doyle, D-Pa., and subpanel Vice Chair Doris Matsui, D-Calif. Pai “for months has made clear that Congress needs to step up to the plate and make more funding available for connectivity during” the epidemic, a spokesperson emailed. “It’s therefore disappointing that House Democrats have failed to do their job and are refusing to find common ground with the Administration and congressional Republicans on broadband funding and other core national priorities unless they get their demand for special-interest giveaways that have nothing to do with the pandemic, like tax cuts for the rich in states like New York, New Jersey, and California.”
“Sell-in” demand in the computing segment at Alpha & Omega Semiconductor (AOS) was “OK” for fiscal Q4 ended June 30, said Executive Vice President Stephen Chang on a Tuesday investor call. But the increased PC sell-through was “quite dramatic,” due to widespread COVID-19 work-from-home and remote-learning, he said. AOS supplies power semiconductors for laptops, LCD TVs, smartphones and other applications and can be a bellwether of consumer tech demand. Many AOS customers that paused production in calendar Q1 through the pandemic’s factory lockdowns “were catching up in the June quarter,” said Chang. “End demand” in computing remained strong through the quarter, “and we were able to meet it with ramping supply” from the fab in Chongqing, China, he said. Revenue in the consumer segment increased 37.5% sequentially and 31.7% year over year, said Chang. “COVID-driven home-sheltering boosted sales of gaming, TVs and home appliances, enabling those segments to achieve healthy growth,” he said. AOS expects double-digit growth in its consumer segment for the September quarter, “driven by home entertainment, gaming and TVs,” said Chang. COVID-19 robbed 2020 of much of its “normal seasonality,” said Chang. Work-from-home and remote-learning mandates are putting the computing segment on a “very healthy” track for the September quarter, said Chang. “We really need to wait and see how demand changes, but right now, it still looks strong.” Smartphone OEMs didn't “pull back production until the June quarter,” said Chang. “But then coming into the September quarter, they're actually starting up production pretty heavily again in anticipation of possibly another factory shutdown” for the next wave of COVID-19 cases in the fall, he said. The stock closed 21.4% higher Wednesday at $13.88.
“Sell-in” demand in the computing segment at Alpha & Omega Semiconductor (AOS) was “OK” for fiscal Q4 ended June 30, said Executive Vice President Stephen Chang on a Tuesday investor call. But the increased PC sell-through was “quite dramatic,” due to widespread COVID-19 work-from-home and remote-learning, he said. AOS supplies power semiconductors for laptops, LCD TVs, smartphones and other applications and can be a bellwether of consumer tech demand. Many AOS customers that paused production in calendar Q1 through the pandemic’s factory lockdowns “were catching up in the June quarter,” said Chang. “End demand” in computing remained strong through the quarter, “and we were able to meet it with ramping supply” from the fab in Chongqing, China, he said. Revenue in the consumer segment increased 37.5% sequentially and 31.7% year over year, said Chang. “COVID-driven home-sheltering boosted sales of gaming, TVs and home appliances, enabling those segments to achieve healthy growth,” he said. AOS expects double-digit growth in its consumer segment for the September quarter, “driven by home entertainment, gaming and TVs,” said Chang. COVID-19 robbed 2020 of much of its “normal seasonality,” said Chang. Work-from-home and remote-learning mandates are putting the computing segment on a “very healthy” track for the September quarter, said Chang. “We really need to wait and see how demand changes, but right now, it still looks strong.” Smartphone OEMs didn't “pull back production until the June quarter,” said Chang. “But then coming into the September quarter, they're actually starting up production pretty heavily again in anticipation of possibly another factory shutdown” for the next wave of COVID-19 cases in the fall, he said. The stock closed 21.4% higher Wednesday at $13.88.
“Sell-in” demand in the computing segment at Alpha and Omega Semiconductor (AOS) was “OK” for fiscal Q4 ended June 30, said Executive Vice President Stephen Chang on a Tuesday investor call. But the increased PC sell-through was “quite dramatic,” due to widespread COVID-19 work-from-home and remote-learning, he said. AOS supplies power semiconductors for laptops, LCD TVs, smartphones and other applications and can be a bellwether of consumer tech demand.
Comscore is partnering with Consumer Orbit, an aggregator of consumer data, to develop “consumer intelligence” technology to tie local shopper behavior to TV viewership in “category-specific segments in near-real-time,” said CEO Bill Livek on a Q2 earnings call Monday. “This will allow media outlets, brands and agencies to plan, transact and evaluate local media performance in new and exciting ways.” The offering will be available in all local markets by year-end, he said. As more Comscore studio customers explore direct-to-consumer streaming service launches, “we, like them, are pivoting by developing a measurement solution that combines box office and direct-to-consumer viewing metrics in one combined product,” said Livek. “The movie industry has been on pause, but it’s not going away.”
Comscore is partnering with Consumer Orbit, an aggregator of consumer data, to develop “consumer intelligence” technology to tie local shopper behavior to TV viewership in “category-specific segments in near-real-time,” said CEO Bill Livek on a Q2 earnings call Monday. “This will allow media outlets, brands and agencies to plan, transact and evaluate local media performance in new and exciting ways.” The offering will be available in all local markets by year-end, he said. As more Comscore studio customers explore direct-to-consumer streaming service launches, “we, like them, are pivoting by developing a measurement solution that combines box office and direct-to-consumer viewing metrics in one combined product,” said Livek. “The movie industry has been on pause, but it’s not going away.”
Comscore is partnering with Consumer Orbit, an aggregator of consumer data, to develop “consumer intelligence” technology to tie local shopper behavior to TV viewership in “category-specific segments in near-real-time,” said CEO Bill Livek on a Q2 earnings call Monday. “This will allow media outlets, brands and agencies to plan, transact and evaluate local media performance in new and exciting ways.” The offering will be available in all local markets by year-end, he said. As more Comscore studio customers explore direct-to-consumer streaming service launches, “we, like them, are pivoting by developing a measurement solution that combines box office and direct-to-consumer viewing metrics in one combined product,” said Livek. “The movie industry has been on pause, but it’s not going away.”
TCL expects a “constrained environment” for the rest of 2020, emailed a spokesperson, following up on the vendor's 2020 virtual product launch for Series-5 and Series-6 TVs last week. TCL’s component supply chains, including panels, reside in China; supplies were disrupted due to COVID-19 early this year, while demand increased in finished goods, she said.