— Xilinx Inc. (NASDAQ: XLNX) reported second-quarter 2020 adjusted earnings of $0.94 per share versus $0.89 per share expected.
— Revenue increased by 12% to $833 million versus $824.84 million expected.
— Looking ahead, the company sees a combination of headwinds in the second half related to continuing business restrictions, weaker demand for communications products and macro-related weakness.
— For fiscal 2020, the company believes that the third-quarter will be its low point and expects to see a return to sequential revenue growth in its fourth-quarter.
— Revenues are anticipated to be in the range of $710 million to $740 million in the third quarter and $3.21 billion to $3.28 billion in fiscal 2020.
— Operating expenses are predicted to be about $336 million in the third quarter and about $1.33 billion in the full year 2020.
— The board of directors declared a quarterly cash dividend of $0.37 per common share, payable on December 3, 2019, to all stockholders of record on November 12, 2019.
— The board also approved a new authorization for the company to repurchase up to $1 billion of its common stock.
Snap-on Incorporated (NYSE: SNA), the century-old company that makes high-end tools for the automotive industry, is unlikely to have a smooth ride in the current quarter, given the deepening turmoil
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