China's Semiconductor Manufacturing International Corp has reported a significant drop in its profit margin, reaching its lowest level since 2009. The company expects further decline as it expands its capacity to meet the growing demand from Huawei Technologies Co. and other clients.
Unity Software reported first-quarter GAAP losses of 75 cents per share, missing the analyst consensus estimate of losses of 65 cents per share. Quarterly sales clocked in at $460 million, beating the analyst consensus estimate of $431.55 million by 6.59%.
Fitch Ratings warns of economic fallout from Trump's proposed trade tariffs if he wins 2020 election. US GDP could decline by 0.4-1.1%, and inflation may decrease in long term. US trading partners could see even greater declines, with China, Canada, and Mexico at risk. Trade imbalance blamed on savings and investment disparity, not tariffs.