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Murata Manufacturing (OTC:MRAAY) Stock, Option Chain

MURATA MANUFACTURING

Murata Manufacturing

Murata Manufacturing produces passive components for electronic devices. Passive components are necessary for all electronic circuits, used to enable wireless communication, store electricity and handle electric flow, remove electromagnetic noise from circuits, and so on. Thus, passive components are imperative for electronic circuits. For instance, one high-end smartphone contains more than 1,000 passive components. Murata Manufacturing is the world's leading supplier of passive components, with 40% market share for MLCC and SAW filters.

Short Ideas

Trading Ideas

MRAAY

On Tuesday, shares of Murata Mfg Co (OTC: MRAAY) experienced volatile short activity. After the activity, the stock price went up +1.15% to $14.89.

The overall sentiment for MRAAY has been Bullish.

Short Volatility Alert: Murata Mfg Co

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Key Apple Supplier From Japan Sees Demand Correction, Fears Migrating Production To China Over Security Concerns

MURATA MFG INC UNSP/ADR by Murata Manufacturing Inc.

Murata Manufacturing Co Ltd

Murata Manufacturing (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRAAY#OTC">MRAAY</a>) is looking for FY2024 GAAP EPS of $0.84. seessales of $11.421 billion.

Guidance

Murata Manufacturing Sees FY2024 GAAP EPS JPY 124.39; Sees Sales JPY 1700B.

Murata Manufacturing (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRAAY#OTC">MRAAY</a>) reported quarterly earnings of $0.11 per share which missed the analyst consensus estimate of $0.14 by 21.43 percent. This is a 21.43 percent decrease over earnings of $0.14 per share from the same period last year. The company reported quarterly sales of $3.10 billion which beat the analyst consensus estimate of $2.94 billion by 5.51 percent. This is a 1.27 percent increase over sales of $3.06 billion the same period last year.

Earnings

Murata Manufacturing Q2 EPS $0.11 Misses $0.14 Estimate, Sales $3.10B Beat $2.94B Estimate

Murata Manufacturing (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRAAY#OTC">MRAAY</a>) is set to give its latest quarterly earnings report on Friday, 2024-11-01. Here's what investors need to know before the announcement.
Analysts estimate that Murata Manufacturing will report an earnings per share (EPS) of $0.14. 
The market awaits Murata Manufacturing's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
Here's a look at Murata Manufacturing's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.11</td>
<td>0.01</td>
<td>0.09</td>
<td>0.14</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>-3.0%</td>
<td>1.0%</td>
<td>5.0%</td>
</tr>
</tbody>
</table>

<h3>Market Performance of Murata Manufacturing's Stock</h3>
Shares of Murata Manufacturing were trading at $8.9 as of October 30. Over the last 52-week period, shares are down 8.29%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/MRAAY/earnings">To track all earnings releases for Murata Manufacturing visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Murata Manufacturing's Earnings Outlook

On Tuesday, shares of Murata Mfg Co (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mraay#OTC">MRAAY</a>) experienced volatile short activity. After the activity, the stock price went up +1.15% to $14.89.
The overall sentiment for MRAAY has been Bullish.
The signal from the volatility alert is trending Bearish. Therefore, the recommendation is to Strong Sell.
The volatility alert was produced on the prior trading date, 4/18/2023 with a volatility change of +53.15%. The current volatility indicator stands at 18.561.
Overview: 
The securities lending volatility indicator is produced by Tidal Markets, in partnership with Benzinga Insights. Securities lending primarily serves the purpose of providing liquidity to short sellers. When unusual activity occurs in the securities lending markets, it acts as an upstream indicator to what is likely to occur downstream in the regular stock market.
Understanding the Volatility Alert: 
Overall sentiment is considered &quot;bear&quot; when broad market activity of the stock has been shown to indicate a negative directional basis, or is considered &quot;bull&quot; when indicating a positive directional basis. The securities lending volatility indicator provides a signal when it detects unusual short activity. Unusual short activity is based off a computer generated algorithmic formula utilizing securities lending trade details such as the volume of shares being shorted, the rate being paid to short the shares, and the type of collateral being posted - amongst other variables. The current volatility is the respective trading day&#39;s calculated securities lending volatility value. The volatility percentage change is the percentage difference in volatility between the two most recent days. The recommendation is a suggestive strategy, inferred from the strength of the Signal Trending, Current Volatility, and Volatility % Change. Recommendations may include, &quot;Strong Buy&quot;, &quot;Strong Sell&quot;, &quot;Increase Short Exposure&quot;, &quot;Decrease Short Exposure&quot;, or &quot;Market Neutral&quot;.
ANY INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR IMPLY INVESTMENT ADVICE

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/general/gaming/22/12/29986277/microsoft-announces-10-year-commitment-to-bring-call-of-duty-to-nintendo-consoles" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Microsoft Announces &#39;10-Year Commitment&#39; To Bring &#39;Call Of Duty&#39; To Nintendo Consoles</a>
<ul>
<li>Microsoft Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) has announced a 10-year deal to bring &#39;Call of Duty&#39; to Nintendo (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/ntdoy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NTDOY</a>) consoles following the acquisition of Activision Blizzard (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/atvi#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ATVI</a>).</li>
<li>Xbox chief Phil Spencer took to Twitter to share the news about Microsoft&#39;s new deal. </li>
<li>In a subsequent tweet, Spencer said that &quot;Microsoft has committed to continue to offer Call of Duty on Steam simultaneously to Xbox after we have closed the merger with Activision Blizzard King.&quot;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/29987192/facebook-parent-criticized-by-oversight-board-for-providing-extra-protection-to-certain-users" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Facebook Parent Criticized By Oversight Board For &#39;Providing Extra Protection To Certain Users&#39;</a>
<ul>
<li>Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) faced the heat from the company-appointed oversight board for policies that treat users unequally. </li>
<li>The oversight board published its policy advisory opinion on Meta&#39;s &#39;cross-check&#39; program, saying they found &quot;several shortcomings.&quot; </li>
<li>The board stated that Meta&#39;s cross-check program is structured to satisfy business concerns. &quot;By providing extra protection to certain users,&quot; the cross-check program allows violating content on Facebook and Instagram to remain, which would otherwise be removed quickly. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/12/29989120/relief-to-pfizer-sanofi-as-us-dismisses-several-lawsuits-associated-with-zantac" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Relief To Pfizer, Sanofi As US Dismisses Several Lawsuits Associated With Zantac</a>
<ul>
<li>U.S. District Judge Robin Rosenberg in Florida has dismissed about 50,000 claims associated with GSK Plc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/gsk#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GSK</a>), Pfizer Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/pfe#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PFE</a>), Sanofi SA (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/sny#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SNY</a>), and Boehringer Ingelheim, claiming that the heartburn drug Zantac caused cancer, as a judge found the claims were not backed by solid science.</li>
<li>The move does not directly affect tens of thousands of similar cases pending in state courts around the country.</li>
<li>The first state trial is currently scheduled to begin in February in California.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/12/29987383/elon-musk-conceived-twitter-hq-bedrooms-draw-regulatory-scrutiny" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Elon Musk Conceived Twitter HQ Bedrooms Draw Regulatory Scrutiny</a>
<ul>
<li>Elon Musk blasted San Francisco Mayor London Breed for investigating Twitter Inc for setting up bedrooms at its headquarters.</li>
<li>Musk called the attack unfair as it was &quot;providing beds for tired employees.&quot;</li>
<li>Twitter recently turned several conference rooms at the office into makeshift bedrooms, complete with furniture like bedside tables and armchairs. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/29988017/apple-chief-deepens-collaboration-with-tsmcs-us-plants" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple Chief Deepens Collaboration With TSMC&#39;s US Plants</a>
<ul>
<li>Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) CEO Tim Cook eyed building chips in the U.S. for the first time in nearly a decade to reduce dependence on international territories.</li>
<li>Cook said Apple would expand its relationship with crucial supplier Taiwan Semiconductor Manufacturing Company Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsm#NYSE">TSM</a>) at a TSMC facility under construction in Phoenix.</li>
<li>Cook voiced his plans to deepen relations with its existing supplier when the U.S. factory opens in 2024 and as TSMC forms new and deeper roots in America.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/29987131/key-apple-supplier-from-japan-sees-demand-correction-fears-migrating-production-to-china-over-securi" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Key Apple Supplier From Japan Sees Demand Correction, Fears Migrating Production To China Over Security Concerns</a>
<ul>
<li>Murata Manufacturing Inc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mraaf#OTC">MRAAF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mraay#OTC">MRAAY</a>) expects Apple Inc to curtail iPhone 14 production further in the coming months because of weak demand.</li>
<li>&quot;Judging by handset availability in stores, I see a downward revision happening,&quot; Murata President Norio Nakajima said in an interview. &quot;I hope that it won&#39;t be too deep.&quot;</li>
<li>Nakajima&#39;s comments reflect slowing consumer spending due to rising interest rates, elevated inflation, and sputtering economic growth.</li>
</ul>

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/29986807/taiwan-semiconductor-projects-10b-in-revenue-from-arizona-plant" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Taiwan Semiconductor Projects $10B In Revenue From Arizona Plant</a>
<ul>
<li>Taiwan Semiconductor Manufacturing Company Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsm#NYSE">TSM</a>) expects $10 billion in annual revenue from Arizona chip plants.</li>
<li>TSMC eyed a second chip plant in Arizona and tripled its initial investment to $40 billion.</li>
<li>The first chip fabrication facility, or fab, will be operational by 2024. The second facility nearby will make the most advanced chips currently in production, called &quot;3-nm,&quot; by 2026.</li>
<li>Liu said the two plants would create 13,000 high-paying tech jobs, including 4,500 under TSMC.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/12/29987764/us-lawmakers-decide-fate-of-boeings-737-max-7-max-10-regulatory-exemption" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">US Lawmakers Decide Fate Of Boeing&#39;s 737 Max 7, Max 10 Regulatory Exemption</a>
<ul>
<li>U.S. lawmakers refused to add an extension to an annual defense bill to exempt Boeing Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) from a year-end regulatory change for 737 Max 7 and Max 10 versions of aircraft.</li>
<li>There is a slim chance the defense bill could be changed before final passage, and Boeing is still attempting to convince lawmakers. Reuters sources reported that the issue may slip into 2023.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/12/29988273/blackrock-freezes-hiring-puts-check-on-expenses-citing-performance-challenges" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BlackRock Freezes Hiring, Puts Check On Expenses Citing Performance Challenges</a>
<ul>
<li>BlackRock Inc&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blk#NYSE">BLK</a>) Chief Financial Officer Gary Shedlin said the company is putting a stop to hiring and reducing expenses during a financial conference hosted by Goldman Sachs.</li>
<li>&quot;We&#39;re trying to be a little more prudent,&quot; he said, adding that these measures will put BlackRock in a better position next year, Reuters reported.</li>
<li>Shedlin added that BlackRock witnessed some weakness in retail mutual funds, with some short-term performance challenges.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/29988873/toyota-offers-to-cut-prius-cost-for-customers-opting-software-updates-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toyota Offers To Cut Prius Cost For Customers Opting For Software Updates</a>
<ul>
<li>Toyota Motor Corp&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>) leasing unit KINTO will offer software updates for safety on its new car, Prius.</li>
<li>The customers will be required to choose a service through the program, slashing the monthly lease payments by 10%.</li>
<li>Through this initiative, Toyota plans to cut lease prices and conserve used-car values in Japan.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/29988278/macro-conditions-engulf-buzzfeed-to-downsize-12-workforce" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Macro Conditions Engulf BuzzFeed, To Downsize 12% Workforce</a>
<ul>
<li>BuzzFeed Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bzfd#NASDAQ">BZFD</a>) disclosed plans to downsize 12% of its workforce as worsening economic conditions and challenges in the digital-media business weighed on its business.</li>
<li>The cuts will impact just under 180 employees, primarily across sales, tech, studio production, BuzzFeed.com, and Complex Networks.</li>
<li>&quot;In order for BuzzFeed to weather an economic downturn that I believe will extend well into 2023, we must adapt, invest in our strategy to serve our audience best, and readjust our cost structure,&quot; CEO Jonah Peretti wrote.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/12/29989321/juul-announces-settlement-of-over-5-000-lawsuits-resolving-much-of-legal-uncertainty" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Juul Announces Settlement Of Over 5,000 Lawsuits, Resolving Much Of Legal Uncertainty</a>
<ul>
<li>Partly owned by Altria Group Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mo#NYSE">MO</a>), Juul Labs reached settlements with about 10,000 plaintiffs covering more than 5,000 cases in California. Juul did not disclose the settlement amount. </li>
<li>The company has obtained equity investment to fund it.</li>
<li>Juul&#39;s CEO&#39;s letter said the settlement &quot;addresses the vast majority of outstanding litigation facing our company.&quot;</li>
</ul>

CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/22/12/29988649/morgan-stanley-sees-slowing-business-downsizes-2-workforce" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Morgan Stanley Layoff 2% Of Its Employees Due To Slowing Business</a>
<ul>
<li>Morgan Stanley (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ms#NYSE">MS</a>) has trimmed its workforce by about 2%, affecting around 1,600 positions.</li>
<li>CNBC first reported the job cuts. The move follows workforce reductions at Goldman Sachs Group Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>) and Citigroup Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>).</li>
<li>According to a quarterly filing, the bank had more than 81,000 employees worldwide as of Sept. 30.</li>
</ul>

<ul>
<li>Murata Manufacturing Inc&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mraaf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MRAAF</a>) (OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mraay#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MRAAY</a>) expects&nbsp;Apple Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) to curtail iPhone 14 production further in the coming months&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/29935663/apple-iphone-likely-to-miss-consensus-by-16m-as-chinas-macros-weigh-analysts-say" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">because of weak demand</a>.</li>
<li>&quot;Judging by handset availability in stores, I see a downward revision happening,&quot; Murata President Norio Nakajima said in a Bloomberg&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-12-07/key-iphone-supplier-expects-orders-to-drop-on-weak-tech-demand?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">interview</a>. &quot;I hope that it won&#39;t be too deep.&quot;</li>
<li>Nakajima&#39;s comments reflect slowing consumer spending due to rising interest rates, elevated inflation, and sputtering economic growth.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/12/29958827/taiwan-semiconductor-wins-apple-nvidia-as-first-customers-of-arizona-plant-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Taiwan Semiconductor Wins Apple, Nvidia As First Customers Of Arizona Plant: Report</a></li>
<li>Apple has pruned iPhone output as demand weakened and&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29901367/apples-iphone-pro-shipments-may-miss-consensus-by-20m-analyst-says" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">may slash production further</a>.</li>
<li>Supply-side problems did not bother Murata as it could recoup production in January and February, said Nakajima. Demand-<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/11/29901367/apples-iphone-pro-shipments-may-miss-consensus-by-20m-analyst-says" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">side weakness is a concern</a>, he said.</li>
<li>Nakajima said Chinese handset makers&#39; incoming models lacked enticing new features.</li>
<li>He expected the phone market to start recovering &quot;at a gradual pace&quot; in the fiscal year beginning in April.</li>
<li>Nakajima ran a long-term project to build a production chain for Murata that operated entirely in China, using local parts.&nbsp;</li>
<li>Murata makes 65% of its products in Japan.&nbsp;</li>
<li>Nakajima expressed bullishness over China&#39;s prowess in semiconductor technology. However, he was wary about migrating production to China, including high-frequency devices and communication modules, due to his concerns over confidential information security.</li>
<li>Price Action:&nbsp;AAPL shares traded lower by 1.51% at $140.75 premarket on the last check Friday</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29337475/youtube-names-google-play-executive-as-new-gaming-head" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">YouTube Named Google Play Executive As New Gaming Head</a>
<ul>
<li>Alphabet Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) YouTube named Leo Olebe as the new head of its gaming unit after an eight-month vacancy for the position.</li>
<li>Olebe has held executive roles in Google Play&rsquo;s games partnerships division and a similar position at Facebook. Before Facebook, Olebe held positions at Electronic Arts Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/ea#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">EA</a>) and Zynga.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/10/29336303/china-held-emergency-meetings-with-semiconductor-companies-after-bidens-curbs-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">China Held Emergency Meetings With Semiconductor Companies After Biden&rsquo;s Curbs</a>
<ul>
<li>China&rsquo;s Ministry of Industry and Information Technology has convened emergency meetings over the past week with leading semiconductor companies to assess the damage from the Biden administration&rsquo;s chip restrictions and pledge support for the critical sector.</li>
<li>The technology overseer called executives from companies, including Yangtze Memory Technologies Co. and Dawning Information Industry Co., into closed-door meetings since the U.S. announced the measures.</li>
</ul>

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/government/22/10/29337297/boeing-wins-senator-support-for-request-for-waiving-deadline-extension-for-new-737-max-variants-cert" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Boeing Wins Senator Support For Request For Waiving Deadline Extension For New 737 MAX Variants Certifications</a>
<ul>
<li>A Republican senator and a significant customer came forward in support of Boeing Co&rsquo;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>), trying to convince the U.S. Congress to extend the deadline to win certification of two new 737 MAX variants.</li>
<li>The company faces a late December deadline for the Federal Aviation Administration (FAA) to certify the MAX 7 and MAX 10.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29337300/vaccine-wastage-switzerland-throws-away-some-9m-expired-moderna-covid-19-vaccines" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Vaccine Wastage: Switzerland Throws Away Some 9M Expired Moderna COVID-19 Vaccines</a>
<ul>
<li>Switzerland will need to discard around 9 million doses of Moderna Inc&rsquo;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>) COVID-19 vaccine that have reached their expiry date.</li>
<li>The wastage reflects the Swiss strategy of ordering more vaccines than needed to ensure its population of around 8.7 million would get sufficient supplies despite supply bottlenecks or quality issues.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29336422/this-key-apple-supplier-explores-japan-expansion-as-us-china-tensions-aggravate" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">This Key Apple Supplier Explores Japan Expansion As US-China Tensions Aggravate</a>
<ul>
<li>Taiwan Semiconductor Manufacturing Company Ltd (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tsm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TSM</a>) weighed expanding its production capacity in Japan to reduce geopolitical risk. The Japanese government has allowed TSMC to expand in the country beyond a factory already under construction.</li>
<li>The critical Apple Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/aapl#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AAPL</a>) supplier is building its first chip-manufacturing plant in Japan, located on the southern island of Kyushu. </li>
</ul>

Financial Times
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29337457/boston-universitys-covid-19-created-in-lab-research-comes-under-scrutiny" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Boston University&rsquo;s COVID-19 Created In Lab Research Comes Under Scrutiny</a>
<ul>
<li>Boston University created an artificial form of COVID-19 in a laboratory. Now, U.S. health officials have launched an inquiry into a controversial study.</li>
<li>The National Institutes of Health told the Financial Times that its officials were investigating whether the study, partly funded by the U.S. government, should have gone through extra checks before proceeding. </li>
</ul>

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/10/29336173/shiba-inu-army-clamors-for-binance-to-list-bone-shibaswap-token" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Shiba Inu Army Clamors For Binance To List Bone ShibaSwap Token</a>
<ul>
<li>At least 208 community members of Shiba Inu token (SHIB/USD) have signed a petition urging cryptocurrency exchange Binance to list the governance token of the SHIB ecosystem &mdash; Bone ShibaSwap (BONE/USD).</li>
<li>BONE allows the members of the SHIB community to vote on upcoming proposals. The more tokens the user holds, the more weight their vote carries in future endeavors. BONE has 250 million tokens, and has been listed by MEXC Global, CoinEx, BitMart, and the native ShibaSwap.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/10/29334993/bankrupt-voyager-seeks-creditors-vote-for-1-42b-sale-to-ftx" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bankrupt Voyager Seeks Creditors&rsquo; Vote For $1.42B Sale To FTX</a>
<ul>
<li>Bankrupt cryptocurrency lending firm Voyager Digital Ltd (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/vygvq#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VYGVQ</a>) has sought creditors&rsquo; approval for its $1.42 billion sale to cryptocurrency exchange FTX, after securing an initial court clearance.</li>
<li>U.S. Bankruptcy Judge Michael Wiles said that as long as Voyager remains open to larger and better proposals than the FTX bid, he would accept Voyager&rsquo;s sale contract and creditor solicitation materials.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29337841/amazon-faces-900m-uk-antitrust-class-action-for-algorithm-abuse" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Faces &pound;900M UK Antitrust Class Action For Algorithm Abuse</a>
<ul>
<li>Amazon.com Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/amzn#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AMZN</a>) faced a U.K. class-action lawsuit for allegedly using a &ldquo;secretive and self-favoring algorithm&rdquo; that breached competition law and caused millions of U.K. customers to pay higher prices.</li>
<li>The claim will seek damages from Amazon estimated in the region of &pound;900 million.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29337295/new-york-times-scraps-kids-app-plan-to-focus-on-expanding-its-subscription-business" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">New York Times Scraps Kids&rsquo; App Plan To Focus On Expanding Its Subscription Business</a>
<ul>
<li>New York Times Co (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/nyt#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NYT</a>) ditched its plans to launch an app for children.</li>
<li>&ldquo;When we launched our Kids venture three years ago, it was before we acquired The Athletic and Wordle, both of which rapidly changed the opportunity size of our subscription bundle. Ultimately, our Kids app caters to a smaller market at a time when we need to focus on scaling our subscription business,&rdquo; Times chief product officer Alex Hardiman said in the email.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29336112/nokia-registers-16-net-sales-growth-in-q3-margins-shrink-due-to-nokia-tech-decline" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Nokia Registers 16% Net Sales Growth In Q3; Margins Shrink Due To Nokia Tech Decline</a>
<ul>
<li>Nokia Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/nok#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">NOK</a>) reported a third-quarter FY22 net sales growth of 16% year-on-year (6% in constant currency) to &euro;6.24 billion.</li>
<li>Network Infrastructure sales grew 5% Y/Y in CC. Cloud and Network Services sales declined 3% Y/Y in CC, while Nokia Tech declined 19% Y/Y, affected by expired licenses.</li>
<li>Mobile Networks sales grew by 12% Y/Y in CC as supply chain constraints eased. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29336482/mercedes-benz-inks-lithium-supply-agreement-with-rock-tech-lithium" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Mercedes-Benz Inks Lithium Supply Agreement With Rock Tech Lithium</a>
<ul>
<li>Mercedes-Benz Group ADR (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mbgyy#OTC">MBGYY</a>) has signed a supply agreement with Rock Tech Lithium Inc to supply an average of 10,000 tonnes of battery-grade lithium hydroxide per year.</li>
<li>The deal represents an estimated sales volume of approximately C$2 billion or &euro;1.5 billion under a five-year term of the agreement and an initial ramp-up period.</li>
<li>This represents 40% of the expected annual production from Rock Tech&rsquo;s planned converter capacity in Guben, Germany.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29337127/philip-morris-ends-iqos-commercial-partnership-with-altria" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Philip Morris Ends IQOS Commercial Partnership With Altria</a>
<ul>
<li>Philip Morris International Inc (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/pm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PM</a>) has agreed with Altria Group Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mo#NYSE">MO</a>) to end the companies&rsquo; commercial relationship covering IQOS in the U.S. as of April 30, 2024.</li>
<li>IQOS is a smoke-free product with heat-not-burn technology.</li>
<li>Thereafter, Philip Morris will have the full rights to commercialize IQOS in the U.S.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29335450/apple-supplier-says-smartphone-market-slump-may-last-well-into-2023-in-stark-warning-ahead-of-holida" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Apple Supplier Says Smartphone Market Slump May Last Well Into 2023</a>
<ul>
<li>The smartphone market might not regain momentum in the fiscal year 2022, which ends in March, and will likely extend to the next term, Norio Nakajima, President of Murata Manufacturing Co. Ltd. (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/mraay#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MRAAY</a>) told Bloomberg in an interview.</li>
<li>Murata, based out of Kyoto, provides electronic modules and components for Apple Inc&rsquo;s iPhones, Samsung&rsquo;s Android devices, and leading Chinese smartphone manufacturers.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/10/29337799/citing-ineffectiveness-fda-panel-recommends-taking-down-famed-preterm-birth-drug-from-market" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Citing Ineffectiveness, FDA Panel Recommends Taking Down Famed Preterm Birth Drug From Market</a>
<ul>
<li>Federal health advisers recommended pulling Covis Pharma&rsquo;s preterm birth drug from the market because it is ineffective.</li>
<li>The FDA&rsquo;s advisory panel voted 14-1 to withdraw Makena, citing recent results that showed it did not prevent health problems in newborns of mothers who took the drug.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29338614/philip-morris-boosts-buyout-offer-for-swedish-match" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Philip Morris Boosts Buyout Offer For Swedish Match</a>
<ul>
<li>Philip Morris International Inc has raised its buyout offer for tobacco company Swedish Match AB (OTC: <a class="ticker" href="https://www.benzinga.com/stock/swmaf#OTC">SWMAF</a>).</li>
<li>Philip Morris made an all-cash offer of SEK 106 per share for Swedish Match in May.</li>
<li>Philip Morris&rsquo; subsidiary, Philip Morris Holland Holdings B.V.(PMHH), increased the price of the offer to SEK 116 per share.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/10/29336300/meta-loses-veteran-execs-behind-instagram-and-whatsapp-acquisitions" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Meta Loses Veteran Exec Behind Instagram and WhatsApp Acquisitions</a>
<ul>
<li>Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) corporate development Vice President Amin Zoufonoun will take a break after almost 12 years, he said in a post on Facebook.</li>
<li>Zoufonoun was instrumental in the acquisitions of Instagram, WhatsApp, and Oculus. </li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/10/29336853/ericsson-clocks-21-sales-growth-in-q3-aided-by-growing-presence-in-mobile-networks-margins-shrink-d" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Ericsson Clocks 21% Sales Growth In Q3 Aided By Growing Presence In Mobile Networks; Margins Shrink Due To Footprint Expansion</a>
<ul>
<li>Telefonaktiebolaget L M Ericsson (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/eric#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ERIC</a>) reported a third-quarter FY22 sales growth of 21% year-on-year to SEK 68 billion.</li>
<li>Group organic sales grew by 3% Y/Y, driven by Networks in North America. Organic sales in Networks rose 7% Y/Y.</li>
<li>It reported an EPS of SEK 1.56 versus SEK 1.73 last year.</li>
<li>Adjusted gross margin contracted 260 basis points to 41.4% due to lower IPR revenues, supply chain costs, and a larger share of services following footprint expansion in Networks.</li>
</ul>

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Apple Supplier Says Smartphone Market May Slump Into Next Year, Meta Loses Veteran Exec Behind Instagram and WhatsApp Acquisitions, Voyager Digital Seeks Creditors' Vote For Sale To FTX: Top Stories Thursday, Oct. 20

The smartphone market is going through a downturn amid <a href="https://www.benzinga.com/22/10/29197585/rate-hikes-to-impact-economy-in-2023">economic setbacks</a> and channel inventory correction. Most analysts expect the downturn to linger for a while and this view was echoed by a corporate executive.
What Happened: The smartphone market might not regain momentum at least in the fiscal year 2022, which ends in March, and will likely extend to the next term, Norio Nakajima, President of Murata Manufacturing Co.&nbsp;Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mraay#OTC">MRAAY</a>)<a href="https://www.bloomberg.com/news/articles/2022-10-20/smartphone-demand-has-further-to-fall-key-iphone-supplier-warns?utm_content=business&amp;cmpid=socialflow-twitter-business&amp;utm_medium=social&amp;utm_source=twitter&amp;utm_campaign=socialflow-organic"> told </a>Bloomberg in an interview.
Murata, based out of Kyoto, provides electronic modules and components for Apple Inc.&rsquo;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) iPhones, Samsung&rsquo;s Android devices and leading Chinese smartphone manufacturers as well.
The executive clarified that Chinese smartphone demand has not come back online in full swing following the <a href="https://www.benzinga.com/news/22/07/28186107/chinas-latest-covid-lockdown-spell-trouble-for-apple-after-tesla">COVID-19-induced closure</a> earlier this year. Consumers may have willingly lapped up new phones with even minor upgrades&nbsp;if the economy had been doing well, he said.
See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/10/29281952/as-china-weakness-pc-market-downturn-take-toll-on-semiconductor-sector-ahead-of-q3-">As China Weakness, PC Market Downturn Take Toll On Semiconductor Sector Ahead Of Q3 Results, Analyst Recommends These Chip Stocks</a>
After the world emerged from COVID-19 in 2021, the markets and economies have been left to contend with incremental risks such as an inflationary environment that is eating away at wages and the monetary policy tightening by the global central banks.
&ldquo;What I&rsquo;m afraid will happen is smartphones get further commoditized and people will wait even longer before upgrading,&rdquo; Nakajima&nbsp;told Bloomberg.
Despite best attempts by Chinese vendors to diversify sales out of China, they have been constrained by issues such as intellectual property infringement that is hurting sales in countries such as India, he noted.
Why It&rsquo;s Important: The global smartphone market fell for the third straight quarter in the third quarter, according to<a href="https://www.canalys.com/newsroom/global-smartphone-market-Q3-2022"> estimates</a> released by Canalys released earlier this week.
Shipments fell 9% year-over-year, marking the worst third quarter 2014 as consumers held back on electronic hardware purchases amid the gloomy economic outlook, the report said.&nbsp;The situation will persist for another six to nine months, analysts from the firm said.
The news does not bode well for device manufacturers, as they enter the key holiday selling season when they push out the bulk of their sales.
Apple is scheduled to report its third-quarter results on Thursday, after the market closes. The report will likely give further clarity on the state of the market, although Cupertino is widely expected to have pulled through the quarter with minimal impact due to strong sales of its high-end phones. This would have helped the company to offset any weakness in volumes.
Read Next: <a href="https://www.benzinga.com/money/tech-stocks">Best Technology Stocks Right Now</a>

Apple Supplier Says Smartphone Market Slump May Last Well Into 2023, In Stark Warning Ahead Of Holiday Season

On Friday, shares of Murata Manufacturing Co. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mraay#OTC">MRAAY</a>) experienced volatile short activity. After the activity, the stock price went up +5.70% to $11.93.
The overall sentiment for MRAAY has been Bearish.
The signal from the volatility alert is trending Bearish. Therefore, the recommendation is to Strong Sell.
The volatility alert was produced on the prior trading date, 10/7/2022 with a volatility change of +71.66%. The current volatility indicator stands at 18.613.
Overview: The securities lending volatility indicator is produced by Tidal Markets, in partnership with Benzinga Insights. Securities lending primarily serves the purpose of providing liquidity to short sellers. When unusual activity occurs in the securities lending markets, it acts as an upstream indicator to what is likely to occur downstream in the regular stock market.
Understanding the Volatility Alert: Overall sentiment is considered &quot;bear&quot; when broad market activity of the stock has been shown to indicate a negative directional basis, or is considered &quot;bull&quot; when indicating a positive directional basis. The securities lending volatility indicator provides a signal when it detects unusual short activity. Unusual short activity is based off a computer generated algorithmic formula utilizing securities lending trade details such as the volume of shares being shorted, the rate being paid to short the shares, and the type of collateral being posted - amongst other variables. The current volatility is the respective trading day&#39;s calculated securities lending volatility value. The volatility percentage change is the percentage difference in volatility between the two most recent days. The recommendation is a suggestive strategy, inferred from the strength of the Signal Trending, Current Volatility, and Volatility % Change. Recommendations may include, &quot;Strong Buy&quot;, &quot;Strong Sell&quot;, &quot;Increase Short Exposure&quot;, &quot;Decrease Short Exposure&quot;, or &quot;Market Neutral&quot;.
ANY INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR IMPLY INVESTMENT ADVICE &nbsp;

Short Volatility Alert: Murata Manufacturing Co.

<ul>
<li>Asia&#39;s pandemic resurgence threatens the manufacture of ceramic bits in&nbsp;Apple Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) iPhones and&nbsp;Sony Group Corp&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sony#NYSE">SONY</a>) Playstations,&nbsp;<a class="editor-rtfLink" href="https://www.wsj.com/articles/covid-19-surge-in-asia-threatens-manufacture-of-ceramic-bits-in-iphones-and-playstations-11630316100?mod=tech_lead_pos2" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">the Wall Street Journal reports</a>.</li>
<li>Japan&#39;s&nbsp;Murata Manufacturing Co Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mraaf#OTC">MRAAF</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mraay#OTC">MRAAY</a>), a key manufacturer of multilayer ceramic capacitors (MLCCs), had to shut down a vital factory due to the resurgence. It was utilizing the other plants to make up for the production loss.</li>
<li>&nbsp;Malaysia&#39;s&nbsp;Taiyo Yuden Co Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tyoyy#OTC">TYOYY</a>) had to reduce production capacity to 80% - 85% of total following a government mandate.</li>
<li>MLCCs offer storage capacity for electrical energy leading to higher performance in tight spaces like the inside of a phone. Southeast Asia, Japan, South Korea, China, and Taiwan, which mainly account for the manufacture of MLCCs, have been severely impacted by the pandemic&#39;s latest variant.</li>
<li>Earlier smartphones needed a few hundred components, while a smartphone with high-speed 5G data service contains more than 1,000. The same is the case for EVs.</li>
<li>&nbsp;Samsung Electro-Mechanics Co and Murata&#39;s MLCC factories in the Philippines also remain vulnerable due to the country&#39;s rising cases.</li>
<li>Interestingly, Taiwan&#39;s&nbsp;Yageo Corp&#39;s&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/yagoy#OTC">YAGOY</a>) plants in China and Taiwan are ready to ramp up the volume and handle rush orders.</li>
<li>Price Action:&nbsp;SONY shares closed lower by 0.76% at $102.47 on the last check Monday.</li>
</ul>

Sony Group Corporation American Depositary Shares

SONY

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A Look At Losers And Gainers From The Pandemic-Led MLCC Crisis: WSJ

<ul>
<li>Murata Manufacturing Co Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mraay#OTC">MRAAY</a>)&nbsp;<a class="editor-rtfLink" href="https://corporate.murata.com/-/media/corporate/about/newsroom/news/irnews/irnews/2021/0729c/21q1-e-speach.ashx?la=en-sg&amp;cvid=20210729050826000000" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reported first-quarter</a>&nbsp;FY21 net sales growth of 34.5% year-on-year to &yen;439.6 billion.</li>
<li>An increase in capacitors for automotive electronics and smartphones and SAW filters, inductors, and RF modules for smartphones drove the numbers.</li>
<li>The operating margin expanded 820 bps to 23.9%.</li>
<li>The net income rose 95.1% Y/Y to &yen;77.2 billion.</li>
<li>Murata generated &yen;58.1 billion in operating cash flow and held &yen;373.7 billion in cash and equivalents.</li>
<li>Outlook:&nbsp;The company sees FY21 net sales of &yen;1.73 billion.</li>
<li>Price action:&nbsp;MRAAY shares traded higher by 6.39% at $21.8 on the last check Thursday.</li>
</ul>

Murata Manufacturing Stock Gains On Q1 Earnings Growth Aided By Automotive And Smartphone Demand

The future of 5G service is as expansive as the imagination, but the key to opening this future could be the size of a grain of sand.
Santa Barbara, California-based startup Resonant Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/resn#NASDAQ">RESN</a>) could be the catalyst for 5G&rsquo;s future via its patented radio frequency (RF) filters, which are widely known as a component embedded into a smartphone.
To explain how these filters will shape the 5G environment, Benzinga spoke with Resonant Chairman and CEO George Holmes and &lrm;Vice President of Corporate Business Development and Product Marketing Mike Eddy.
BZ: For the benefit of those who are not familiar with your company, can you please tell us about your technology and where it fits in the 5G environment?
Holmes: This is kind of a quick Cliff Notes version of what Resonant is and what we do. We have an ISN software tool that allows us to develop very complex RF filters, particularly being designed and targeted for mobile applications. We find them going into lots of different applications, in particular driven by 5G and what&#39;s happening in WiFi 6 and 6e categories.
From an IP perspective, we have over 350 patents filed and issued, and over 100 are targeted specifically at 5G. Because of 5G, we&#39;ve leveraged our software tools to invent some pretty interesting technology. One of the big things about 5G is having very wide pipes &mdash;&nbsp;we&#39;re trying to get the devices to do virtual reality, high-definition videos, and get lots of data into our phones very, very quickly.
The historical, embedded technologies that have enabled 4G won&#39;t work in 5G &mdash;&nbsp;they can&#39;t get there and kind of run out of gas when you get to these higher frequencies. We&#39;ve got this next generation filter technology that puts us in the right place at the right time.
What is filter technology as it relates to 5G?
Holmes: If you look at these huge pipes coming to your phone and all of the different data types &mdash;&nbsp;whether it be GPS, RFID, WiFi, Bluetooth or all the different types of cellular signals &mdash;&nbsp;they&#39;re all out there colliding.
What you have with filters are little fences that actually keep signals in the proper lane on the highway. If you think about, the data pipe coming to your phone started out as a 10-lane highway and is now a 100-lane highway, and all of these little filters break this up and deliver data to where it&#39;s supposed to be in your phone.
What does it mean to a user when the filter isn&#39;t working properly?
Holmes: Well, we&#39;ve all had this experience, but we just didn&#39;t know what it was. Our phone starts getting hot when we&#39;re talking on it. That&#39;s because filters aren&#39;t working well. The power amplifiers in the phone are having to work harder, your battery life goes down and you drop calls. Today, we&#39;re doing filters for the next generation of phones. And we think we&#39;re the only game in town that has the technology can meet the application requirements for the future.
Mike Eddy: Filters in phones are not the sexiest things, and people don&#39;t realize how many of them there are in modern phones. For example, the latest iPhones have about 100 filters in there and every piece of spectrum that you use globally needs protection. That&rsquo;s what we do, and it&#39;s not just for 5G but also for the new WiFi standards. All of these new wireless technologies need wide bandwidth, and that&#39;s where the requirements for filters changed.
We were lucky enough to realize that 5G is extremely disruptive. We have a software platform that is unique and is extremely accurate at predicting the performance of these RF filters.
We can use our ISN platform to look at what is the optimal structure for these new requirements. And it also turned out there are materials invented by some other companies that allowed us to use a new technology, which are called engineered substrates, where we can take advantage of the flexibility of those substrates.
In order to invent this new XBAR technology &mdash;&nbsp;it means that we can get the right kind of acoustic wave material on silicon, with the right orientation and the right crystal entity that we could model to match these new requirements.
To reiterate: You don&rsquo;t manufacture these filters, correct?
Holmes: Well, this is the great thing: we don&#39;t make anything. We design filters and we license them to filter manufacturers and let them build them. It gives us a fantastic business model, right?
We&#39;re basically arms dealers to the filter business. You&#39;ve got these very, very large filter manufacturers &mdash;&nbsp;there are seven of them that actually represent 98% of the global market &mdash;&nbsp;and we happened to be very, very lucky that when we introduced this new filter technology two years ago, everybody was excited about what we&#39;re doing.
Nobody believed it can be done, because we&#39;re doing this super high-frequency wide bandwidth filter in a fashion that people didn&#39;t think could be done. We came up with this really cool new technology, we demonstrated it and everybody was excited about it.
When we were working to try to find our first customer for the technology, we got lucky and&nbsp;Murata (Pink: <a class="ticker" href="https://www.benzinga.com/stock/mraay#PINK">MRAAY</a>) signed up to be our first customer and made a strategic investment in us.
Where&#39;s the 5G environment today, both in the United States and around the world?
Eddy: It&#39;s the early days for 5G. What&#39;s happened with 5G in the U.S. is the operators wanted to get a footprint out as quick as possible to market 5G and to be able to claim that they are the first nationwide 5G network.
But rather than give us new bandwidth, they&#39;ve actually reassigned 4G bandwidth for 5G and this is essentially using the 4G infrastructure for 5G. That&#39;s why if you read any reports, 5G speeds are about the same as 4G in the U.S.
China was leading the way and started to deploy real 5G infrastructure, but that&#39;s probably going to change because of the position with Huawei right now.
The EU is further behind because it&#39;s expensive to build these networks and to almost all of their 4G network was built by Huawei. Because the transition from 4G to 5 requires that you interface both networks and they desperately tried not to use Huawei for 5G, that&#39;s really put a hold and a delay on the strategy of moving to 5G. There has been talk about pulling out their 4G network and deploying 4G and 5G networks at the same time because when 5G comes along, 4G doesn&#39;t go away &mdash;&nbsp;you&rsquo;ll still that most of the net traffic will stay on 4G connection for the next four years.
What are your plans for the remainder of 2021 and into 2022?
Holmes: For us, we&#39;re heads down right now as a technology development company. We had a massive milestone in October, which was a year into the Murata contract, when we passed the technical validation milestone, which was the first milestone.
And then they did a big thing that we didn&#39;t know was coming: at their annual shareholders meeting in November, they did the unthinkable for a Japanese company in their investor presentation by having two slides on our technology and on us.
They talked about what technologies they would need to support next generation networks, and for RF filters, they said Resonant&rsquo;s technology.
We&#39;re also focused on the WiFi segment of the market, because the bandwidth required for the WiFi segment is much wider &mdash;&nbsp;that will play really well to the strength of our XBAR technology.
The operators are all telling us that we&#39;re planning on delivering is going to be kind of the has the potential to dominate, so we&#39;re aggressively pursuing our next, contracts with our customers. So that&#39;s probably what&#39;s big.
And then we&#39;ve got our legacy business, which continues to grow. Our legacy business is the work that we&#39;re doing in 4G, 3G and 2G with our older technology.&nbsp;Obviously, those technologies are much more commoditized. So, we&#39;ve created a platform that makes it easy for companies to engage with us take standard designs off the shelf and integrate them into their process and go manufacture them.
We don&#39;t do a lot of custom work in that second side of the business any longer. When we started the company, that&#39;s all we did, because we didn&#39;t have any customers yet. You do what you got to do to survive and to grow, and to kind of set up footprint and prove out your technology, and that&#39;s what we did.
Now, we have the best of both worlds: our legacy businesses growing and we&#39;re well positioned for the next generation technology with our XBAR platform. And then, we&#39;ve got one of the largest IP portfolios out there.
We&#39;re a little company, so that&#39;s pretty exciting.
(Photo courtesy of Resonant.)

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Exclusive: Resonant CEO On Role In 5G Development: 'We're Basically Arms Dealers To The Filter Business'

<h3>Companies Reporting Before The Bell</h3>
&bull; Chevron Inc. (NYSE:<a class="ticker" href="/stock/CVX#NYSE">CVX</a>) is expected to report quarterly loss at $0.92 per share on revenue of $22.10 billion.
&bull; Weyerhaeuser Inc. (NYSE:<a class="ticker" href="/stock/WY#NYSE">WY</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $1.42 billion.
&bull; Goodyear Tire &amp; Rubber Inc. (NASDAQ:<a class="ticker" href="/stock/GT#NASDAQ">GT</a>) is estimated to report quarterly loss at $2.07 per share on revenue of $1.87 billion.
&bull; American Axle &amp; Mfg Hldgs Inc. (NYSE:<a class="ticker" href="/stock/AXL#NYSE">AXL</a>) is expected to report quarterly loss at $1.99 per share on revenue of $440.05 million.
&bull; Booz Allen Hamilton Inc. (NYSE:<a class="ticker" href="/stock/BAH#NYSE">BAH</a>) is expected to report quarterly earnings at $0.86 per share on revenue of $1.97 billion.
&bull; Illinois Tool Works Inc. (NYSE:<a class="ticker" href="/stock/ITW#NYSE">ITW</a>) is expected to report quarterly earnings at $0.70 per share on revenue of $2.33 billion.
&bull; Caterpillar Inc. (NYSE:<a class="ticker" href="/stock/CAT#NYSE">CAT</a>) is expected to report quarterly earnings at $0.64 per share on revenue of $9.38 billion.
&bull; Charter Communications Inc. (NASDAQ:<a class="ticker" href="/stock/CHTR#NASDAQ">CHTR</a>) is expected to report quarterly earnings at $2.46 per share on revenue of $11.60 billion.
&bull; Johnson Controls Intl Inc. (NYSE:<a class="ticker" href="/stock/JCI#NYSE">JCI</a>) is expected to report quarterly earnings at $0.48 per share on revenue of $5.13 billion.
&bull; Church &amp; Dwight Co Inc. (NYSE:<a class="ticker" href="/stock/CHD#NYSE">CHD</a>) is expected to report quarterly earnings at $0.63 per share on revenue of $1.15 billion.
&bull; Fiat Chrysler Automobiles Inc. (NYSE:<a class="ticker" href="/stock/FCAU#NYSE">FCAU</a>) is expected to report quarterly loss at $1.35 per share on revenue of $17.34 billion.
&bull; Exxon Mobil Inc. (NYSE:<a class="ticker" href="/stock/XOM#NYSE">XOM</a>) is expected to report quarterly loss at $0.62 per share on revenue of $38.16 billion.
&bull; Colgate-Palmolive Inc. (NYSE:<a class="ticker" href="/stock/CL#NYSE">CL</a>) is expected to report quarterly earnings at $0.69 per share on revenue of $3.78 billion.
&bull; Arbor Realty Trust Inc. (NYSE:<a class="ticker" href="/stock/ABR#NYSE">ABR</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $34.50 million.
&bull; Associated Capital Group Inc. (NYSE:<a class="ticker" href="/stock/AC#NYSE">AC</a>) is expected to report earnings for its second quarter.
&bull; AdvanSix Inc. (NYSE:<a class="ticker" href="/stock/ASIX#NYSE">ASIX</a>) is estimated to report quarterly earnings at $0.31 per share on revenue of $281.30 million.
&bull; Astronics Inc. (NASDAQ:<a class="ticker" href="/stock/ATRO#NASDAQ">ATRO</a>) is expected to report quarterly loss at $0.31 per share on revenue of $110.03 million.
&bull; Balchem Inc. (NASDAQ:<a class="ticker" href="/stock/BCPC#NASDAQ">BCPC</a>) is expected to report quarterly earnings at $0.56 per share on revenue of $161.35 million.
&bull; Bel Fuse Inc. (NASDAQ:<a class="ticker" href="/stock/BELFB#NASDAQ">BELFB</a>) is expected to report quarterly loss at $0.30 per share on revenue of $108.25 million.
&bull; Phillips 66 Inc. (NYSE:<a class="ticker" href="/stock/PSX#NYSE">PSX</a>) is expected to report quarterly loss at $0.92 per share on revenue of $15.37 billion.
&bull; Berry Global Group Inc. (NYSE:<a class="ticker" href="/stock/BERY#NYSE">BERY</a>) is expected to report quarterly earnings at $1.15 per share on revenue of $2.98 billion.
&bull; Cboe Global Markets, Inc. Common Stock Inc. (BATS:<a class="ticker" href="/stock/CBOE#BATS">CBOE</a>) is expected to report quarterly earnings at $1.23 per share on revenue of $296.92 million. 
&bull; Capital Product Partners Inc. (NASDAQ:<a class="ticker" href="/stock/CPLP#NASDAQ">CPLP</a>) is estimated to report quarterly earnings at $0.50 per share on revenue of $35.69 million.
&bull; CTS Inc. (NYSE:<a class="ticker" href="/stock/CTS#NYSE">CTS</a>) is expected to report quarterly earnings at $0.07 per share on revenue of $89.02 million. 
&bull; Dominion Energy Inc. (NYSE:<a class="ticker" href="/stock/D#NYSE">D</a>) is estimated to report quarterly earnings at $0.76 per share on revenue of $3.47 billion.
&bull; DSV Panalpina Inc. (OTC:<a class="ticker" href="/stock/DSDVY#OTC">DSDVY</a>) is expected to report earnings for it&#39;s second quarter.
&bull; Erste Group Bank Inc. (OTC:<a class="ticker" href="/stock/EBKDY#OTC">EBKDY</a>) is expected to report earnings for it&#39;s second quarter.
&bull; Embraer Inc. (NYSE:<a class="ticker" href="/stock/ERJ#NYSE">ERJ</a>) is estimated to report quarterly loss at $0.44 per share on revenue of $613.05 million. 
&bull; GlycoMimetics Inc. (NASDAQ:<a class="ticker" href="/stock/GLYC#NASDAQ">GLYC</a>) is expected to report earnings for its second quarter.
&bull; Gol Intelligent Airlines Inc. (NYSE:<a class="ticker" href="/stock/GOL#NYSE">GOL</a>) is estimated to report quarterly loss at $0.89 per share on revenue of $132.97 million. 
&bull; Hill-Rom Holdings Inc. (NYSE:<a class="ticker" href="/stock/HRC#NYSE">HRC</a>) is estimated to report quarterly earnings at $1.46 per share on revenue of $749.39 million.
&bull; Intl Cons Airlines Group Inc. (OTC:<a class="ticker" href="/stock/ICAGY#OTC">ICAGY</a>) is estimated to report earnings for it&#39;s second quarter.
&bull; Imperial Oil Limited Common Stock Inc. (AMEX:<a class="ticker" href="/stock/IMO#AMEX">IMO</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $9.24 billion.
&bull; Itau Corpbanca Inc. (NYSE:<a class="ticker" href="/stock/ITCB#NYSE">ITCB</a>) is estimated to report earnings for it&#39;s second quarter. 
&bull; KVH Industries Inc. (NASDAQ:<a class="ticker" href="/stock/KVHI#NASDAQ">KVHI</a>) is estimated to report quarterly loss at $0.37 per share on revenue of $32.05 million.
&bull; Lazard Inc. (NYSE:<a class="ticker" href="/stock/LAZ#NYSE">LAZ</a>) is expected to report quarterly earnings at $0.41 per share on revenue of $502.54 million.
&bull; L3Harris Technologies Inc. (NYSE:<a class="ticker" href="/stock/LHX#NYSE">LHX</a>) is expected to report quarterly earnings at $2.62 per share on revenue of $4.47 billion.
&bull; LyondellBasell Industries Inc. (NYSE:<a class="ticker" href="/stock/LYB#NYSE">LYB</a>) is estimated to report quarterly earnings at $0.65 per share on revenue of $5.66 billion.
&bull; Merck &amp; Co Inc. (NYSE:<a class="ticker" href="/stock/MRK#NYSE">MRK</a>) is estimated to report quarterly earnings at $1.04 per share on revenue of $10.39 billion.
&bull; Nokia Inc. (NYSE:<a class="ticker" href="/stock/NOK#NYSE">NOK</a>) is estimated to report quarterly earnings at $0.03 per share on revenue of $5.70 billion.
&bull; nVent Electric Inc. (NYSE:<a class="ticker" href="/stock/NVT#NYSE">NVT</a>) is estimated to report quarterly earnings at $0.24 per share on revenue of $436.16 million.
&bull; Newell Brands Inc. (NASDAQ:<a class="ticker" href="/stock/NWL#NASDAQ">NWL</a>) is estimated to report quarterly earnings at $0.18 per share on revenue of $2.03 billion.
&bull; OFS Capital Inc. (NASDAQ:<a class="ticker" href="/stock/OFS#NASDAQ">OFS</a>) is expected to report quarterly earnings at $0.20 per share on revenue of $11.67 million.
&bull; O2Micro Intl Inc. (NASDAQ:<a class="ticker" href="/stock/OIIM#NASDAQ">OIIM</a>) is expected to report quarterly loss at $0.06 per share on revenue of $17.00 million.
&bull; Oxford Lane Capital Inc. (NASDAQ:<a class="ticker" href="/stock/OXLC#NASDAQ">OXLC</a>) is expected to report earnings for it&#39;s first quarter.
&bull; PBF Energy Inc. (NYSE:<a class="ticker" href="/stock/PBF#NYSE">PBF</a>) is expected to report quarterly loss at $2.98 per share on revenue of $3.28 billion.
&bull; PBF Logistics Inc. (NYSE:<a class="ticker" href="/stock/PBFX#NYSE">PBFX</a>) is estimated to report quarterly earnings at $0.48 per share on revenue of $89.45 million.
&bull; Public Service Enterprise Inc. (NYSE:<a class="ticker" href="/stock/PEG#NYSE">PEG</a>) is estimated to report quarterly earnings at $0.60 per share on revenue of $2.30 billion.
&bull; Pinterest Inc. (NYSE:<a class="ticker" href="/stock/PINS#NYSE">PINS</a>) is estimated to report quarterly loss at $0.13 per share on revenue of $251.24 million.
&bull; Piper Sandler Inc. (NYSE:<a class="ticker" href="/stock/PIPR#NYSE">PIPR</a>) is estimated to report quarterly earnings at $1.18 per share on revenue of $237.04 million.
&bull; PNM Resources Inc. (NYSE:<a class="ticker" href="/stock/PNM#NYSE">PNM</a>) is estimated to report quarterly earnings at $0.49 per share on revenue of $345.12 million.
&bull; Portland General Electric Inc. (NYSE:<a class="ticker" href="/stock/POR#NYSE">POR</a>) is estimated to report quarterly earnings at $0.33 per share on revenue of $455.84 million. 
&bull; Phillips 66 Partners Inc. (NYSE:<a class="ticker" href="/stock/PSXP#NYSE">PSXP</a>) is expected to report quarterly earnings at $0.74 per share on revenue of $365.82 million.
&bull; NatWest Group PLC ADR Inc. (NYSE:<a class="ticker" href="/stock/RBS#NYSE">RBS</a>) is expected to report earnings for it&#39;s second quarter.
&bull; Stellus Capital Inv Inc. (NYSE:<a class="ticker" href="/stock/SCM#NYSE">SCM</a>) is estimated to report quarterly earnings at $0.24 per share on revenue of $14.53 million.
&bull; Shell Midstream Partners Inc. (NYSE:<a class="ticker" href="/stock/SHLX#NYSE">SHLX</a>) is estimated to report quarterly earnings at $0.33 per share on revenue of $136.97 million.
&bull; US Silica Holdings Inc. (NYSE:<a class="ticker" href="/stock/SLCA#NYSE">SLCA</a>) is estimated to report quarterly loss at $0.51 per share on revenue of $143.57 million.
&bull; Snap-on Inc. (NYSE:<a class="ticker" href="/stock/SNA#NYSE">SNA</a>) is estimated to report quarterly earnings at $1.83 per share on revenue of $704.97 million.
&bull; Spirit Realty Cap Inc. (NYSE:<a class="ticker" href="/stock/SRC#NYSE">SRC</a>) is expected to report quarterly earnings at $0.22 per share on revenue of $113.88 million.
&bull; TransAlta Inc. (NYSE:<a class="ticker" href="/stock/TAC#NYSE">TAC</a>) is expected to report earnings for it&#39;s second quarter.
&bull; West Japan Railway Inc. (OTC:<a class="ticker" href="/stock/WJRYY#OTC">WJRYY</a>) is expected to report earnings for it&#39;s first quarter.
&bull; W.P. Carey Inc. (NYSE:<a class="ticker" href="/stock/WPC#NYSE">WPC</a>) is expected to report quarterly earnings at $0.45 per share on revenue of $288.53 million.
&bull; AbbVie Inc. (NYSE:<a class="ticker" href="/stock/ABBV#NYSE">ABBV</a>) is expected to report quarterly earnings at $2.19 per share on revenue of $10.08 billion.
&bull; Bel Fuse Inc. (NASDAQ:<a class="ticker" href="/stock/BELFA#NASDAQ">BELFA</a>) is expected to report quarterly loss at $0.23 per share on revenue of $110.00 million. 
&bull; Daiwa Securities Group Inc. (OTC:<a class="ticker" href="/stock/DSEEY#OTC">DSEEY</a>) is expected to report earnings for it&#39;s first quarter.
&bull; IDEXX Laboratories Inc. (NASDAQ:<a class="ticker" href="/stock/IDXX#NASDAQ">IDXX</a>) is estimated to report quarterly earnings at $1.16 per share on revenue of $589.98 million.
&bull; Mazda Motor Inc. (OTC:<a class="ticker" href="/stock/MZDAY#OTC">MZDAY</a>) is estimated to report earnings for its first quarter.
&bull; Ruth&#39;s Hospitality Group Inc. (NASDAQ:<a class="ticker" href="/stock/RUTH#NASDAQ">RUTH</a>) is estimated to report quarterly loss at $0.53 per share on revenue of $28.51 million.
&bull; Spectrum Brands Holdings Inc. (NYSE:<a class="ticker" href="/stock/SPB#NYSE">SPB</a>) is estimated to report quarterly earnings at $0.93 per share on revenue of $928.26 million.
&bull; WisdomTree Inv Inc. (NASDAQ:<a class="ticker" href="/stock/WETF#NASDAQ">WETF</a>) is expected to report quarterly earnings at $0.04 per share on revenue of $58.96 million.
&bull; Under Armour Inc. (NYSE:<a class="ticker" href="/stock/UA#NYSE">UA</a>) is estimated to report quarterly loss at $0.41 per share on revenue of $558.52 million.
&bull; VF Inc. (NYSE:<a class="ticker" href="/stock/VFC#NYSE">VFC</a>) is estimated to report quarterly loss at $0.67 per share on revenue of $981.63 million.
&bull; ITT Inc. (NYSE:<a class="ticker" href="/stock/ITT#NYSE">ITT</a>) is expected to report quarterly earnings at $0.38 per share on revenue of $516.61 million.
&bull; Aon Inc. (NYSE:<a class="ticker" href="/stock/AON#NYSE">AON</a>) is estimated to report quarterly earnings at $1.93 per share on revenue of $2.55 billion.
&bull; CBRE Group Inc. (NYSE:<a class="ticker" href="/stock/CBRE#NYSE">CBRE</a>) is estimated to report quarterly earnings at $0.42 per share on revenue of $5.04 billion.
&bull; Immunogen Inc. (NASDAQ:<a class="ticker" href="/stock/IMGN#NASDAQ">IMGN</a>) is estimated to report quarterly loss at $0.17 per share on revenue of $14.59 million. 
&bull; ASE Technology Holding Co Inc. (NYSE:<a class="ticker" href="/stock/ASX#NYSE">ASX</a>) is estimated to report quarterly earnings at $0.08 per share on revenue of $3.47 billion.
&bull; Takeda Pharmaceutical Inc. (NYSE:<a class="ticker" href="/stock/TAK#NYSE">TAK</a>) is estimated to report earnings for its first quarter. 
&nbsp;
<h3>Companies Reporting After The Bell</h3>
&bull; Mizuho Financial Group Inc. (NYSE:<a class="ticker" href="/stock/MFG#NYSE">MFG</a>) is expected to report earnings for its first quarter.
&bull; Unity Biotechnology Inc. (NASDAQ:<a class="ticker" href="/stock/UBX#NASDAQ">UBX</a>) is estimated to report earnings for its second quarter.

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