A Glance at Rising US Propane Inventories—and Falling Prices
In the week ending September 25, US propane inventories rose by 1.7 MMbbls to 98.7 MMbbls—a 24.1% increase from the corresponding period last year.
The EIA reported that power generation from natural gas increased in all regions of US in July, while generation from coal declined in all regions.
In the seven days leading up to September 30, US natural gas consumption fell by 1.2% on a WoW basis, following a 3.3% decline in power sector consumption.
The United States Natural Gas ETF (UNG) tracks natural gas futures and trades on the NYSE. Notably, UNG fell by 7.53% between September 25 and October 1.
Based on data from Bentek Energy, the EIA reported that total US natural gas production remained flat in the seven days leading up to September 30, 2015.
US natural gas prices fell by ~5.1% between September 25 and October 1. Prices closed at $2.433 per MMBtu on October 1 and at $2.564 on September 25.
The EIA report for the week ending September 25 showed that US natural gas inventories increased by 98 Bcf, rising to 3,538 Bcf that week.
In fiscal 2Q15, Atmel’s revenue dropped 14% year-over-year to $306.4 million.
Cypress was rumored to have challenged Dialog’s offer for Atmel. Cypress denied the rumors, stating that it had approached Atmel’s board in the past, but had withdrawn from the bid.
Semiconductor giants look to acquire chip makers with broad portfolios of products serving the IoT space.
The combined company from the merger of Atmel (ATML) and Dialog will become a global leader in both power management and embedded processing solutions.
The UK-based chip maker Dialog has agreed to buy US-based Atmel (ATML) for approximately $4.6 billion to expand in the automotive and Internet of Things space.
Atmel (ATML), a US-based manufacturer of microcontrollers, is an active player in developing advanced semiconductors for Internet of Things devices.
On September 15, 2015, Hewlett-Packard announced that the firm will lay off up to 30,000 employees. The layoff will impact 10% of the company’s workforce.
In 3Q15, HP was able to increase its market share in the Printer business segment, driven by new product launches, as well as an increased focus on its multifunction printer.
Demand in the NAND flash market is expected to be driven by smartphones, tablets, and SSDs, which account for 85% of the segment’s overall bit demand in 2015.
According to DRAMeXchange, the NAND flash memory market is expected to grow at 12% in 2015. It is projected to grow rapidly, with double-digit growth, in the next few years.
SanDisk (SNDK) expects the industry’s year-over-year supply bit growth to be above the previous estimate of 40%.
SanDisk Corporation (SNDK) designs, develops, and manufactures data storage solutions in a variety of forms that use flash memory, proprietary controllers, and firmware technologies.
In this series, we’ll analyze the YTD performance of firms in the Technology, Hardware, and Storage subsector and that are a part of the Technology Select Sector SPDR ETF (XLK).