This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

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

STMicroelectronics NV (STM)

Morgan Stanley Technology, Media & Telecoms Conference

November 17, 2011 04:20 AM EST

Executives

Carlo Bozotti – President & CEO

Analysts

Unknown analysts

Presentation

Moderator

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

Carlo Bozotti

Good morning to everybody.

Moderator

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,856.78 -278.94 -1.54%
S&P 500 2,071.26 -29.78 -1.42%
NASDAQ 4,927.37 -55.4390 -1.11%

Partners Compare Online Brokers

Free Reports

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