May 14, 2019 / 8:21 AM / 11 days ago

BRIEF-STMicro Cites Potential US Trade War with Europe as Negatively Impacting Business Confidence

May 14 (Reuters) - STMicroelectronics:

* COMPANY ALSO CITES ADDITIONAL TARIFFS INTRODUCED BY U.S. ON MAY 10 ON CHINESE GOODS AS NEGATIVELY IMPACTING BUSINESS AND CONSUMER CONFIDENCE

* SAYS IN INVESTOR PRESENTATION THAT STRATEGIC OBJECTIVES INCLUDE LEADERSHIP IN CAR ELECTRIFICATION AND CAR DIGITALIZATION

* POINTS TO VOLATILE MACROECONOMIC INDICATORS, SLOWING ECONOMIC GROWTH AND ACCELERATING CONTRACTION OF CERTAIN END MARKETS

* EXPECTS Q219 GROSS MARGIN AT ABOUT 38.5% (+/- 200 BPS)

* EXPECTS Q219 REVENUE UP Q/Q BY ABOUT 2.4% (+/- 350 BPS) DOWN Y/Y BY ABOUT 6.3% AT MID-POINT

* SAYS STRONG DISCIPLINE IN PROTECTING THE BALANCE SHEET AND CAPITAL SPENDING FOR KEY STRATEGIC INITIATIVES Further company coverage: (Reporting by Paris Newsroom)

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