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Hanwha Investment & Securities Raises Samsung SDS Target Price Amid Strong Q2 Outlook Hanwha Investment & Securities projected that Samsung SDS will exceed market expectations for its second-quarter performance, driven by strong growth in its cloud and logistics businesses. The firm maintained a 'buy' rating and raised its target price from 210,000 won to 250,000 won.Analyst Kim So-hye of Hanwha Investment & Securities estimated Samsung SDS's consolidated revenue for the second quarter at 3.697 trillion won, with an operating profit of 246.7 billion won. These figures represent increases of 6% and 9%, respectively, over market consensus.Kim noted, "The revenue growth in the cloud and logistics sectors appears to be better than previously anticipated," adding that IT service revenue is expected to rise by 6.2% year-on-year, marking the highest growth rate in the past two years. She further explained that delayed projects have resumed and the expansion of the Managed Service Provider (MSP) business has accelerated, leading to an estimated 15.5% year-on-year growth in cloud revenue.Looking ahead, Kim expects the positive trend in performance to continue in the second half of the year, particularly with the cloud business's revenue growth projected to recover to around 20%, driven by the MSP and Cloud Service Provider (CSP) sectors.The analyst highlighted that during a recent Analyst Day, the company set a goal to secure over 800 MW of Automatic Identification and Data Capture (AIDC) infrastructure by 2031, aiming for related revenue of 6.6 trillion won. She assessed this plan as highly feasible, considering the company's financial capacity and demand from group companies. She added that revenue from the Dongtan West data center will begin to be reflected this year, with contributions expected from the Korean AICC (40 MW) and Gumi AIDC (60 MW) in succession.Kim stated, "This year is expected to be a period of momentum for capital utilization strategies," and predicted that if visible results are confirmed throughout the year, the current valuation discount factors are likely to be resolved.* This article has been translated by AI. 2026-07-07 08:08:00 -
HD Hyundai Heavy Industries Expresses Disappointment Over Canadian Submarine Bid HD Hyundai Heavy Industries expressed disappointment after losing the bid for Canada's Next-Generation Submarine Project (CPSP).In a statement on July 7, the company said, "It is regrettable that we could not achieve a successful outcome, but we are confident that the experience of working as a united team for this bid will serve as a strong foundation for the advancement of K-defense."They added, "We will do our utmost to leverage this experience to achieve success in future K-defense exports and enhance national interests."Finally, HD Hyundai Heavy Industries extended its gratitude to the government, related agencies, and the public for their support throughout the bidding process.* This article has been translated by AI. 2026-07-07 08:08:00
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Samsung Electronics Reports Record Q2 Operating Profit of 89.4 Trillion Won Samsung Electronics reported a preliminary consolidated revenue of 171 trillion won and an operating profit of 89.4 trillion won for the second quarter of this year.The company disclosed its preliminary results on July 7. Compared to the previous quarter, revenue increased by 27.74%, while operating profit rose by 56.21%. Year-over-year, revenue surged by 129.31%, and operating profit skyrocketed by 1,810.26%.Notably, the operating profit surpassed the $53.5 billion (approximately 81.86 trillion won) achieved by its client, U.S. company NVIDIA, in the first quarter of the 2027 fiscal year (February to April 2026), marking the largest quarterly operating profit among global private companies.Market analysts attribute this strong performance to improvements in the memory market, particularly high-bandwidth memory (HBM), and the sales impact of new smartphone products.The results are based on preliminary figures prepared in accordance with the Korean International Financial Reporting Standards (K-IFRS). Detailed performance by division has not been disclosed, and final results are expected to be announced at the end of this month.Since 2009, Samsung Electronics has been the first domestic company to disclose quarterly preliminary results, providing investors with early insights into its financial performance and supporting assessments of corporate value.During the earnings conference call, Samsung will address pre-submitted questions from investors, focusing on key issues such as semiconductor business performance, the outlook for the AI semiconductor market in the second half, and strategies for its foundry business.* This article has been translated by AI. 2026-07-07 08:00:00
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Samsung Elec Q2 profit nears 90 trillion won even after bonus package SEOUL, July 07 (AJP) - Samsung Electronics on Tuesday estimated second-quarter operating profit at 89.4 trillion won ($58.4 billion) beating consensus of around 84.60 trillion won, as hot chip selling prices more than offset the cost of record performance bonuses for semiconductor employees. The preliminary figure compares with operating profit of 57.2 trillion won in the previous quarter and 4.7 trillion won a year earlier and fueled a red-hot earning streak for the third quarter. It also suggests income could have nearly doubled from the January-March period when excluding bonus outlay. Second-quarter revenue came to 171 trillion won, slightly short of the FnGuide consensus of 172.68 trillion won, but much higher than 133.9 trillion won in the previous quarter and 74.6 trillion won a year earlier, The world's top DRAM maker's second-quarter earnings were highly anticipated, given the red-hot demand for memory chips powering AI, which also spilled over into mass-market memory due to supply constraints. Citi Research estimated that average selling prices for DRAM and NAND rose 44 percent and 53 percent, respectively, from the first quarter. The latecomer in the high-bandwidth memory race was also expected to benefit from long-term strategic supply contracts with major technology companies seeking to lock in memory supplies. Industry sources also said provisions for employee performance bonuses were at least partially reflected in the quarter, while stronger seasonal demand for air conditioners and other premium home appliances during an early summer heatwave likely supported the consumer electronics business. Samsung will release detailed earnings, including business division results, later this month. 2026-07-07 07:53:26 -
Trump Highlights Walmart Price Cuts Amid Inflation Concerns Ahead of Midterms President Donald Trump has emphasized Walmart's decision to lower prices as part of his administration's efforts to address inflation. This move comes as voters express concerns about rising grocery costs ahead of the November midterm elections.On July 6, Trump announced on Truth Social that Walmart would reduce prices on several products at the request of the U.S. government.He stated, "I have been informed that Walmart will significantly lower prices in time for the 250th anniversary of our nation," calling it "great news."Trump specifically noted that the price of ground beef would drop by nearly 15%. However, Walmart's actual price reduction for ground beef is from $6.74 to $5.94 per pound, a decrease of about 12%. At its warehouse chain Sam's Club, the price for its private label ground beef will also fall from $6.17 to $5.97 per pound.Walmart announced that it would apply discounts to thousands of items, including groceries, beverages, household goods, clothing, and toys, in response to high customer demand this summer. Items such as cherries, corn, ice cream, potato chips, Coca-Cola, and Pepsi are among those included in the price cuts.However, Walmart did not directly mention the White House or Trump in its official announcement. The company described the price reductions as an investment to ease the burden on customers for frequently purchased items. In contrast, Trump praised Walmart as a "true patriotic company" and urged other retailers to follow suit.This announcement comes as grocery prices remain a significant concern for American consumers. Beef prices, in particular, have remained high due to rising feed costs from drought and a decrease in cattle numbers. Trump has claimed that prices for oil, eggs, and prescription drugs are also declining, highlighting his administration's efforts to stabilize prices.The cost of living continues to be a key issue for voters as the midterm elections approach. Walmart's price cuts can be seen as part of the White House's strategy to directly address the cost of living concerns.* This article has been translated by AI. 2026-07-07 07:44:00
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Hanwha Ocean Fails to Secure Canadian Submarine Contract Hanwha Ocean expressed disappointment over its failure to secure the $60 billion Canadian Submarine Program (CPSP), stating, "There is much regret, but it is entirely due to our shortcomings."On July 7, Hanwha Ocean released a statement saying, "Despite the government's full support, the outstanding performance of our submarines, and the Navy's successful operational experience, we could not overcome the NATO alliance's barriers. We approached this with a diligent attitude, so there is much regret left behind."The company added, "We will closely analyze the challenges identified during this bidding process and seek definitive alternatives, ensuring that 'K-defense' can make further strides in the global market."Hanwha Ocean also expressed gratitude to the citizens who supported them, as well as to government and National Assembly officials, and military personnel from the Navy and Defense Acquisition Program Administration. They thanked all corporate partners who participated in the bidding efforts.Meanwhile, Canadian Prime Minister Mark Carney announced on July 6 that ThyssenKrupp Marine Systems (TKMS) has been selected as the preferred bidder for the CPSP project.* This article has been translated by AI. 2026-07-07 07:32:00
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Spain Defeats Portugal 1-0, Advances to Quarterfinals in World Cup Spain defeated Portugal 1-0 to advance to the quarterfinals of the 2026 North America World Cup.On July 7, in a Round of 16 match held at Dallas Stadium in Arlington, Texas, Spain secured the victory with a last-minute goal from Mikel Merino in stoppage time of the second half.According to Yonhap News, Cristiano Ronaldo's powerful right-footed shot from the right side of the penalty area was blocked by the Spanish defense in the 12th minute of the first half.Spain had two crucial scoring opportunities in the 16th minute, but both were thwarted by Portugal's goalkeeper Diogo Costa, known for his remarkable saves. A left-footed curling shot from the rising star Yamal was punched away by Costa, and Alex Baena's follow-up shot was also denied by Costa's outstretched hand.In the 37th minute, Ronaldo attempted an acrobatic right-footed shot from the left side of the goal area, but it was again saved by the goalkeeper.Later, in the 41st minute, Nuno Mendes' left-footed shot from just outside the penalty area deflected off Spanish defender Pedro Porro's head.The match remained tightly contested in the second half. In the 28th minute, Yamal's left-footed shot was sharply directed toward the goal but was saved by the goalkeeper.Portugal also had a chance in the 31st minute when Bruno Fernandes' right-footed shot hit the side netting.The decisive moment came in stoppage time of the second half. Ferran Torres delivered a killer pass to Merino, who surged into the penalty area and found the net with a left-footed shot.Meanwhile, Portugal's superstar Cristiano Ronaldo concluded his World Cup journey in the Round of 16. 2026-07-07 07:16:00
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U.S. Stocks Rise on Semiconductor Gains; Dow Surpasses 53,000 for First Time The U.S. stock market closed higher on the first trading day after the Independence Day holiday, driven by a rebound in artificial intelligence (AI) related semiconductor stocks. The Dow Jones Industrial Average surpassed the 53,000 mark for the first time in history.On July 6, the Dow closed at 53,055.91, up 0.29% from the previous session. The Standard & Poor's (S&P) 500 index rose 0.72% to 7,537.43, while the Nasdaq composite gained 1.12% to finish at 26,121.16.The day's gains were led by semiconductor stocks. Broadcom's shares increased by 3.7% after the company announced it had extended its custom semiconductor development and supply agreement with Apple until 2031. The Philadelphia Semiconductor Index also rose 2.2%, recovering some of the losses from the previous two trading days. The S&P 500 information technology sector index climbed 1.3%.Expectations for demand in AI semiconductors further bolstered investor sentiment. Reuters reported that SK Hynix is set to debut on Nasdaq this week, with strong investment demand for AI-related semiconductor stocks still evident. The market is keenly watching the upcoming second-quarter earnings reports, which are expected to confirm the impact of AI investments.However, the upward trend did not extend across the entire market. Within the S&P 500, the number of declining stocks outnumbered those that rose. While large tech and semiconductor stocks drove the index higher, other sectors lagged behind.On an individual basis, Microsoft shares fell about 1% after the company announced it would cut approximately 4,800 jobs, or about 2.1% of its workforce. O'Reilly Automotive dropped 6.7% following reports of a proposal to acquire Genuine Parts' automotive parts business.Economic indicators showed mixed results. The Institute for Supply Management (ISM) reported that the June services purchasing managers' index (PMI) fell to 54.0 from 54.5 the previous month. Although the index remains above the baseline of 50, indicating expansion, the pace of growth in the services sector has slowed somewhat.Uncertainty regarding interest rates also persists. Last week's employment data came in weaker than expected, reducing the likelihood of a rate hike at the July Federal Open Market Committee (FOMC) meeting. Investors are looking to the FOMC minutes set to be released on July 8 and major corporate earnings to gauge the Federal Reserve's policy direction and the sustainability of the AI rally.* This article has been translated by AI. 2026-07-07 07:00:00
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Defense Acquisition Agency Aims to Enhance Defense Export Strategy The Defense Acquisition Agency has expressed respect for the results of the Canada Submarine Project (CPSP) announced by the Canadian government. The agency outlined its future strategies, including securing technological advantages through a major shift to defense AI and localization. On July 7, Lee Yong-cheol, head of the Defense Acquisition Agency, stated, "The CPSP bidding process was a significant opportunity to confirm the technological capabilities of Korean submarines and the potential for defense cooperation between Korea and Canada." He added, "We will use the experiences and lessons learned from this competitive process as a stepping stone to further develop our large-scale defense export strategy and strengthen government-wide support." On July 6, Canadian Prime Minister Mark Carney announced the selection of ThyssenKrupp Marine Systems (TKMS) as the preferred bidder for the CPSP project at the Halifax naval base in Nova Scotia. Carney explained, "If negotiations with TKMS fail, Canada reserves the right to designate Hanwha Ocean, the secondary supplier, as the primary supplier and negotiate with them." To secure the Canada submarine project, Hanwha Ocean and HD Hyundai Heavy Industries formed a unified team led by the Defense Acquisition Agency, with participation from the Ministry of National Defense, the Navy, and other relevant government departments, including the Ministry of Trade, Industry and Energy and the Ministry of Foreign Affairs. The Defense Acquisition Agency noted, "It is a significant achievement that South Korea, which previously imported submarine technology from Germany, competed on equal footing with the original submarine country in terms of performance, delivery, and all technical capabilities, demonstrating the remarkable growth of our defense technology." Additionally, during the competitive process, the Dosan Ahn Chang-ho submarine demonstrated its long-range sailing capability, operational sustainability, and stability by crossing the Pacific to Canada. This has marked a significant step in establishing K-defense capabilities in the global defense market beyond Canada. Looking ahead, the Defense Acquisition Agency stated, "We will strive to quickly advance the defense AI transformation to secure technological advantages and will do our utmost to enter major defense markets through groundbreaking localization strategies. We will also further develop the cooperative relationship formed with Canada through this process."* This article has been translated by AI. 2026-07-07 06:56:00
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Microsoft Cuts 4,800 Jobs, Restructures Xbox Division Microsoft (MS) is undertaking a major restructuring, cutting 4,800 jobs globally, which represents 2.1% of its workforce. The layoffs are primarily concentrated in the gaming division, including Xbox. On July 6, local time, MS announced the job cuts along with plans to reorganize its Xbox business. Within the Xbox division, 3,200 employees are affected, with 1,600 receiving termination notices on the same day. MS will also streamline some of its game studios. Compulsion Games and Double Fine Productions will be separated into independent studios, while Ninja Theory and Undead Labs will undergo sale processes. Arkane Studios is in discussions with French labor unions regarding its future. This restructuring is seen as a response to MS's inability to achieve expected profitability despite significant investments in its gaming business. The company expanded its Xbox ecosystem by acquiring Activision Blizzard in 2023 but has struggled to close the gap with competitors Sony PlayStation and Nintendo. Asha Sharma, head of Xbox, informed employees in a notice that “our business is not healthy right now,” citing lower profit margins compared to competitors as a reason for the restructuring. MS plans to simplify its organization by creating a new Chief Operating Officer (COO) position and reducing its reporting structure from up to 14 levels to 3 to 5 levels. The layoffs are also linked to MS's increased investment in artificial intelligence (AI). The company is pouring substantial funds into AI infrastructure and data centers, leading the market to interpret the job cuts as a measure for cost reduction and profitability defense. However, MS clarified that AI is not directly replacing jobs. Amy Coleman, Chief Human Resources Officer, stated, “The positions eliminated today are not being replaced by AI,” while acknowledging that “AI is certainly changing the way we work.”* This article has been translated by AI. 2026-07-07 06:52:00