Expect a House suspension vote soon on one of the Judiciary Committee’s less controversial antitrust bills, House Antitrust Subcommittee Chairman David Cicilline, D-R.I., and ranking member Ken Buck, R-Colo., told us Tuesday.
The European Commission announced plans to increase investments and incentives for its semiconductor industry and establish a more reliable chip supply chain to reduce dependence on foreign suppliers. The plans, which were announced Tuesday, are considered likely to lead to more export control measures over sensitive chip products in response to domestic shortages or unfair foreign trade policies. The U.S. Congress is trying to finalize funding for its own set of chip provisions to boost U.S. semiconductor production and R&D (see 2202040054).
Though Alpha and Omega Semiconductor sees signs that “historical seasonal patterns are beginning to return,” which is healthy, at least for the remainder of this year, “we expect global demand for semiconductors to remain stronger than the industry's ability to meet it,” said President Stephen Chang on an earnings call Monday for fiscal Q2 ended Dec. 31. The company draws most of its revenue from sales of power semiconductors and other components to tier 1 OEMs in smartphones, PCs and game consoles.
Warner Music Group CEO Steve Cooper cited the company’s “unique position” in the new era of recorded music on the company’s Q1 FY ’21 earnings call Tuesday. At a time when many in the industry see new models and currencies as roads to democratization for creators, Cooper promoted Warner Music’s experience, financial muscle and strategies for the digital future.
Media and tech companies are headed down the stretch for Super Bowl Sunday with special programming and commercial previews, while TV promotions are somewhat muted compared with the big game in previous years, our survey found Monday.
The House passed semiconductor-funding legislation 222-210 on a largely party-line vote Friday. Commerce Secretary Gina Raimondo and lawmakers are looking ahead to conference talks to combine elements of the newly House-passed America Creating Opportunities for Manufacturing, Pre-Eminence in Technology and Economic Strength Act (HR-4521) and Senate-passed U.S. Innovation and Competition Act (S-1260) (see 2202010001).
Consumers are shopping fewer times than they did pre-COVID-19, said National Retail Federation Chief Economist Jack Kleinhenz on a Friday webcast, recapping the $886.7 billion 2021 holiday sales season and previewing 2022 retail. During the pandemic, consumers shopped less often to avoid contact with others and stay healthy, but buying more and stockpiling “more than they needed,” Kleinhenz said. That behavior may change a bit, but “people get accustomed to doing certain things,” he said.
Dolby revenue fell 10% in fiscal Q1 ended Dec. 31 on the impact from the COVID-19 pandemic and a $6 million true-up for the company’s estimates for unit shipments in gaming and consumer electronics, said Chief Financial Officer Robert Park on a Thursday earnings call. “We are seeing year-over-year declines for foundational audio coming off of tough comps, and now issues with the supply chain,” said CEO Kevin Yeaman.
Wage increases and higher pricing from third-party carriers supporting its fulfillment network, plus the COVID-19 omicron variant and capacity constraints due to a tight labor market, contributed to $4 billion in second-half costs at Amazon, said Chief Financial Officer Brian Olsavsky on a Q4 earnings call Thursday. Amazon plans to offset the costs by a $20 hike in its Amazon Prime membership fee, he said.
Comprehensive state privacy bills marched forward in Indiana and Washington state. The Indiana Senate passed SB-358 in a unanimous 49-0 vote Tuesday, and a Washington House panel narrowly cleared an amended HB-1850 Wednesday. Elsewhere, a Virginia Senate panel cleared edits to its 2021 law and a Maryland committee heard testimony on a biometrics privacy bill.