EFR32MG21 SoC Tailored for Zigbee Applications Offers Several Advantages for ZBMicroAUSTIN, Texas, Aug. 1, 2024 /PRNewswire/ -- Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, today announced that its MG21 2.4 GHz wireless SoC had been selected by SONOFF for its new  ZBMicro smart switch, SONOFF's Micro Zigbee USB Smart Adaptor. ZBMicro is a groundbreaking addition to the realm of smart home technology. From its role as a smart switch for USB devi ...

U.S. Bancorp (USB) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.The power of a chan ...

U.S. Bancorp’s (USB) second-quarter 2024 adjusted earnings per share (excluding the impact of notable items) of 98 cents beat the Zacks Consensus Estimate by 2%. However, the bottom line declined 12.5% from the prior-year quarter's level.Shares of USB have increased around 4.1% in the early market trading session on better-than-anticipated earnings. A full day’s trading will depict a better picture.Results have benefited from higher deposits and lower expenses. However, a decline in net interest income (NII ...

Financial Data and Key Metrics Changes - The company reported diluted earnings per share of $0.97, which included a notable item related to the FDIC special assessment, resulting in an adjusted earnings per share of $0.98 [6][9] - Return on tangible common equity increased to 18.6% on an adjusted basis [6] - Average total deposits increased by 2.2% to $514 billion, while average total loans rose by 1.0% to $375 billion [10][11] - The tangible book value per share increased to $23.15, reflecting a 2.8% increase from the previous quarter and a 10.1% increase year-over-year [7] - The common equity Tier-1 ratio improved to 10.3%, up 30 basis points from the prior quarter and 120 basis points from the previous year [18] Business Line Data and Key Metrics Changes - Fee income represented over 40% of total net revenue, benefiting from seasonal revenues across payment businesses and strong growth in trust and investment management fees [8] - Noninterest income increased by $115 million or 4.3% on a linked-quarter basis, driven by higher payments revenue and stronger mortgage banking fees [16] - Noninterest expense as adjusted decreased by $6 million or 0.1% on a linked-quarter basis, primarily due to lower compensation and employee benefit expenses [17] Market Data and Key Metrics Changes - Average noninterest-bearing deposits decreased by $1.4 billion or 1.6% on a linked-quarter basis, indicating a focus on relationship-based deposit generation [10] - The net charge-off ratio increased to 58 basis points, with expectations to approach 60 basis points in the second half of the year [14] Company Strategy and Development Direction - The company is focused on enhancing customer acquisition, improving client experiences, and deepening relationships to drive growth [20] - Management emphasized the importance of expense management and achieving positive operating leverage in the second half of the year [20] - The company aims to maintain a diversified revenue mix and strong risk management discipline to support future growth [20] Management's Comments on Operating Environment and Future Outlook - Management noted stabilization in credit quality metrics, with expectations for modest loan growth and cautious client behavior in the current economic environment [27][65] - The company anticipates stable net interest income for the third quarter, with potential growth in the fourth quarter depending on market conditions [19][29] - Management expressed confidence in capital levels and the ability to accrete capital, with plans for a potential increase in dividends [42] Other Important Information - The company is well-capitalized and prepared to manage potential industry stress resulting from macroeconomic downturns [18] - The Federal Reserve's stress test results indicated a need for increased capital buffers, which the company is addressing through prudent capital management [18] Q&A Session Summary Question: Discussion on NII trajectory - Management highlighted that net interest income growth is expected to stabilize in the third quarter, with potential growth in the fourth quarter depending on deposit rotation and market conditions [23][29] Question: Insights on commercial loan demand - Management noted pockets of loan growth in the corporate loan book, but overall loan growth remains tepid due to client caution [26][27] Question: Fee revenue growth outlook - Management expects mid-single-digit growth in fee revenue, driven by payments, trust investment management fees, and capital markets [31][34] Question: Credit outlook and charge-offs - Management anticipates charge-offs to approach 60 basis points in the second half of the year, with stabilization in delinquency rates [37][78] Question: Payment business growth - Management expects high single-digit growth in merchant and corporate payments, with mid-single-digit growth in credit and debit card areas [71]

For the quarter ended June 2024, U.S. Bancorp (USB) reported revenue of $6.84 billion, down 4.2% over the same period last year. EPS came in at $0.98, compared to $1.12 in the year-ago quarter.The reported revenue represents a surprise of +0.35% over the Zacks Consensus Estimate of $6.81 billion. With the consensus EPS estimate being $0.96, the EPS surprise was +2.08%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

U.S. Bank | Confidential 1 July 17, 2024 U.S. Bancorp 2Q24 Earnings Conference Call Forward-looking Statements and Additional Information The following information appears in accordance with the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statements about U.S. Bancorp. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are based on the information available to, and assum ...

U.S. Bancorp (USB) came out with quarterly earnings of $0.98 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $1.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.08%. A quarter ago, it was expected that this company would post earnings of $0.89 per share when it actually produced earnings of $0.90, delivering a surprise of 1.12%.Over the last four quarters, the company has su ...

Supplemental Consolidated Schedules Second Quarter 2024 QUARTERLY CONSOLIDATED STATEMENT OF INCOME | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------|----------|-----------|--------------|---------------|----------| | (Dollars and Shares in Millions, Except Per Share Data) | June 30, | March 31, | December 31, | September 30, | June 30, | | (Unaudited) | 2024 | 2024 | 2023 | 2023 | 2023 | | Interest Income | | | | | | | Loans | $5,761 | $5,712 | $5,742 | $5,7 ...

SHENZHEN, CHINA, July 14, 2024 (GLOBE NEWSWIRE) -- July 14, 2024 - In the rapidly evolving tech landscape, Innocn stands out with its latest 4K monitors featuring USB Type-C connectivity, redefining visual clarity and connectivity for professionals and enthusiasts alike. Imagine effortlessly connecting your monitor to various devices with a single cable, enabling seamless data transfer and laptop charging simultaneously. Innocn's integration of USB Type-C technology achieves this convenience and versatilit ...

SHENZHEN, CHINA, July 14, 2024 (GLOBE NEWSWIRE) -- July 14,2024 – With great pleasure, INNOCN announces a special Prime Day offer on its highly regarded 32-inch 4K laptop USB C monitor. Customers can take advantage of a substantial $85 discount off the standard price of the monitor from July 16 to July 17. This limited-time offer drops the monitor's original $349.97 price to just $264.99. The INNOCN 32 Inch 4K Laptop USB C Monitor is designed for versatility and high performance, tailored to meet the deman ...