— Xilinx Inc. (NASDAQ: XLNX) reported third quarter 2020 adjusted earnings of $0.68 per share versus $0.59 per share expected.
— Revenue decreased by 10% to $723 million versus $730.6 million expected.
— Xilinx expects to reduce its global workforce by approximately 7% through a targeted reduction in force and meaningfully slower hiring to replace attrition.
— Q4 revenues are expected to be in the range of $750 million to $780 million.
— Revenue in the fourth quarter is expected to grow on a sequential basis.
— The company expects greater than expected weakness in the wired and wireless business in Q4 due to a slowdown in both 5G and wired infrastructure deployments, in addition to ongoing global trade headwinds.
— Xilinix stock was down about 8% immediately after the earnings announcement.
— Stryker (NYSE: SYK) reported fourth quarter 2019 earnings of $2.49 per share, vs. $2.46 per share expected.
— Total sales grew 8.8% to $4.13 billion vs. expected $4.11 billion. Organic sale grew 8% in Q4. Orthopaedics sales increased 6.7% year-over-year to $1.5 billion.
— Adjusted EPS is estimated to be in the range of $9.00 to $9.20 for 2020 and in the range of $2.05 and $2.10 for 1Q20.
— 2020 organic net sales growth expected to be 6.5% to 7.5%.
— SYK shares traded flat in the after-hours trading session.
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