Markets News 

As asset management growth grinds to a halt, firms have to get creative. Here are the 3 avenues analysts say will best boost revenue.

“New technology: asset managers are taking over some of the work that financial advisers and other groups previously did in distribution, enabled by technology” writes Meghan Morris for businessinsider.com. Asset managers face a dismal outlook, as investors turn to lower-fee products and shareholders demand bottom-line growth and lower costs.”Today, the bulk of foreign asset managers’ emerging market client assets under management is sourced from large public funds investing into Western markets,” the analysts wrote.”Asset managers will increasingly find themselves up against technology players in the solutions space,” the report said.Increasing…

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Markets News 

Micron earnings: As memory-chip glut persists, can forecast raise hopes?

“This time last year, Micron forecast a rosy outlook and had announced plans to increase its production capacity as data-center demand for chips appeared limitless” writes Wallace Witkowski for marketwatch.com. Micron forecast $1.65 to $1.85 a share.In the year-ago quarter, Micron reported earnings of $2.82 a share.Revenue: Wall Street expects revenue of $5.85 billion from Micron, according to 27 analysts polled by FactSet.That’s down from $7.5 billion the Street had forecast at the beginning of the quarter, before Micron predicted revenue of $5.7 billion to $6.3 billion. Source: marketwatch.com

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News Stocks 

Synaptics CEO out as earnings hit by China softness, stock plunges

“Synaptics revealed that its fiscal third-quarter earnings and revenue would be “around” the lower end of its guidance range, and stated that revenue was “affected by demand softness in China.”” writes Jeremy C for marketwatch.com. Synaptics released second-quarter earnings last month, and announced the departure of its chief financial officer for Lumentum Holdings Inc.SYNA, +2.01% shares dropped 7% in after-hours trading Friday afternoon, after the tech company announced that its chief executive is leaving and that its earnings had disappointed amid troubles in China.Synaptics stock has struggled since merger discussions…

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Austria pressing ahead with digital tax after EU-wide plan fails

“Austria said in January that it would tax firms like Google, Amazon, Facebook and Alibaba 3 percent of their advertising revenue from within Austria” writes Midwest Communications Inc for 95kqds.com. “I am here today to say clearly again that we will implement and stick to what we have always said, namely introduce a national digital tax in Austria.”. VIENNA (Reuters) – Austria will press ahead with a proposed tax on internet giants after plans for an European Union-wide levy fell through this week, Finance Minister Hartwig Loeger said on Friday.…

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Apple’s App Store fees are coming under increasing pressure from Spotify, Netflix, and regulators.

“Fortnite”/Epic Games But the fees charged by Apple, Google, and other app store operators like Steam have been coming under increasing pressure” writes Troy Wolverton for businessinsider.com. A slight reduction in Apple’s App Store rates won’t hurt the company very much, Kelley said.Michael Loccisano/Getty Images/Spotify Apple’s App Store commissions make up the biggest component of its services business, accounting for about 30% of its total revenue, Kelley estimated. Source: businessinsider.com

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Turtle Beach shares tank on weak earnings outlook

“Turtle Beach shares sank 13% after hours” writes Markets Reporter for marketwatch.com. Turtle Beach also reported its fourth-quarter earnings rose to $24.6 million, or $1.33 a share, from $14.2 million, or $1.15 a share, a year earlier.The company projected first-quarter adjusted earnings per share of 5 cents, below Wall Street’s average estimate of 7 cents.Analysts surveyed by FactSet Research had forecast earnings of $1.31 a share on revenue of $110 million. Source: marketwatch.com

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News Stocks 

Oracle stock slides on outlook after once again riding stock buybacks to earnings beat

“Oracle reported cloud services and license support revenues were $6.66 billion, while analysts expected $6.64 billion” writes Wallace Witkowski for marketwatch.com. Cloud license and on-premise license revenue came in at $1.25 billion, while analysts expected $1.24 billion.Of the 33 analysts surveyed by FactSet, Oracle on average was expected to post adjusted earnings of 84 cents a share.Over the past 12 months, Oracle shares are up 1.4%, compared with a 2.2% gain in the S&P 500 index SPX, -0.09%  and a 1.8% rise in the tech-heavy Nasdaq Composite Index COMP, -0.16%…

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