00:00 Speaker A
Welcome back. Now it’s time for some of today’s trending tickers.
00:08 Speaker A
Okay, today we’re watching TSMC, Saudi Ramco and Diageo. First up, Taiwan Semiconductor is reporting a possible leak of trade secrets related to its advanced chipmaking techniques. The company said it conducted an internal investigation and identified the issue early, taking action against the staff responsible. According to the Nikkei, TSMC fired several employees suspected of attempting to obtain critical proprietary information on 2 nanometer chip development, which is expected to enter mass production later this year. TSMC is the world’s largest chip maker and supplies both Nvidia and Apple.
00:54 Speaker A
Next up, it’s Saudi Ramco. It’s reporting a profit decline for the 10th straight quarter as lower oil prices outweigh higher production. Oil prices declined over the quarter following a shift in OPEC plus policy, uncertainty over tariffs and escalating tensions in the Middle East. Free cash flow for the world’s largest oil company fell 20% in the second quarter. Still, the company’s CEO is confident oil consumption will grow, saying quote, we anticipate oil demand in the second half of 2020-25 to be more than 2 million barrels per day higher than the first half.
01:45 Speaker A
And finally, Diageo, it’s rising after the drinks maker announced more cost cuts. It’s now expecting to save about $625 million, up from $500 million previously expected.
02:04 Speaker A
It’s part of Guinness Maker’s accelerate program that includes lower advertising and promotional spending and supply chain efficiencies. Still, the company forecast flat sales for fiscal 2026 as it feels the impact of tariffs. It’s now expecting a $200 million hit to its operating profit.
02:26 Speaker A
The company is also searching for a new leader after its CEO stepped down last month.
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
