This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

STMicroelectronics's CEO Presents At The Morgan Stanley Technology, Media & Telecoms Conference (Transcript)

Stocks in this article: STM

STMicroelectronics NV (STM)

Morgan Stanley Technology, Media & Telecoms Conference

November 17, 2011 04:20 AM EST


Carlo Bozotti – President & CEO


Unknown analysts



Thank you. Carlo, CEO of STMicroelectronics, thanks for…

Carlo Bozotti

Good morning to everybody.


Coming today. Maybe – we should start maybe with a quick summary of what happened in Q3 for ST Micro and then we start discussing.

Carlo Bozotti

Yes, well, Q3 and Q4 I think we are – clearly the correction started in the second part of the second quarter, accelerated during the course of the third quarter, and is indeed important inventory corrections, but also with some weakness in the underlying demand. And I think moving into Q4, it is now a few weeks that we have seen bookings increasing a little bit. It seems it is bottoming. Our bookings in October was better than in Q3 and the bookings in November is better than in October. But I would say is still too low and is just the start of a new slope and we need to see whether this is sustainable. During Q3 it is clear that the correction was very much across he board, both geographically and also from the market segment’s point of view. So geographically we have experienced weaknesses here in Asia, certain countries in Asia, not only in Europe or in the US, but – and from a segment point of view, well fewer things were not touched, maybe tablets, communication infrastructure, servers.

But most of the things, including industrial, including consumer distribution market, they were all in question. Even automotive it was very strong in the first half of the year. We have countries where performance is pretty poor today, like in a part of Europe, not in Germany, but in a part of Europe and the growth in China in the automotive this year is 2%, 3% and of course this to be compared with last year was 30% growth. So well, let’s see. As I said, we see some better performance in booking and this is recent and we need to understand whether this is sustainable and we need more. We need a stronger positive upside at this stage.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs