Angel Colon- Rivera
Prior, he was Executive Director of the Congressional Hispanic Caucus and held senior roles at the Department of Commerce, Census Bureau, and on Capitol Hill.
He helped advance key initiatives including the CHIPS Act, Regional Technology Hubs, and Capital Readiness Program and National Museum of the American Latino Act.
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an hour ago
- Yahoo
Trump administration said to discuss taking 10% in Intel, Bloomberg News reports
(Reuters) -The Trump administration is in talks to take a 10% stake in Intel by converting some or all of the struggling company's Chips Act grants into equity, Bloomberg News reported, citing a White House official and other people familiar with the matter. Shares of Intel fell 4.2% on Monday, after rallying last week on hopes of U.S. federal support. A 10% stake in the American chipmaker would be worth about $10 billion. Intel has been slated to receive a combined $10.9 billion in Chips Act grants for commercial and military production, and the figure is roughly enough to pay for the government's holding, according to the Bloomberg report on Monday. Reuters could not immediately verify the report. Intel and the White House did not respond to Reuters requests for comment. Media reports said last week that the U.S. government may buy a stake in Intel, after a meeting between CEO Lip-Bu Tan and President Donald Trump that was sparked by Trump's demand for the new Intel chief's resignation over his ties to Chinese firms. Federal backing could give Intel more breathing room to revive its loss-making foundry business, analysts have said, but it still suffers from a weak product roadmap and challenges in attracting customers to its new factories. Trump, who called the meeting with Tan "very interesting," has taken an unprecedented approach to corporate interventions. He has pushed for multibillion-dollar government tie-ups in semiconductors and rare earths, such as a pay-for-play deal with Nvidia and an arrangement with rare earth producer MP Materials to secure critical minerals. Intel last year secured nearly $8 billion in subsidies, the largest outlay under the act, to build new factories in Ohio and other states as former CEO Pat Gelsinger bet on them to restore the company's manufacturing edge. Tan, however, pared back such ambitions, slowing construction in Ohio. He plans to build factories based on demand for the services, which analysts have said could put him at odds with Trump's push to shore up American manufacturing.
Yahoo
4 hours ago
- Yahoo
July retail sales rise 0.5%: What it means for the Fed
Retail sales climbed 0.5% in July, coming in slightly below Wall Street estimates, according to fresh data from the Census Bureau. Yahoo Finance Senior Reporter Allie Canal joins Morning Brief with Julie Hyman to discuss the details and what the numbers mean for the Federal Reserve going into the September FOMC meeting. To watch more expert insights and analysis on the latest market action, check out more Morning Brief. Ali, I'll start with you and that retail sales number, which I'm afraid doesn't make anything easier for the Fed, right? Sort of makes things murkier in terms of the economic picture. Right. It came in broadly stable, roughly in line with estimates, the second straight month that we've seen this uptick. We also saw May and June's numbers revised higher. So that shows the consumer is still spending. I'm looking at my inbox right now. Capital Economics out with their reaction, saying that this report shows households continue to spend in healthy amounts despite the threat of tariffs, especially given the increase in sales in areas which have experienced tariff-induced price pressures recently. And if we take a look under the hood at some of the categories that saw the biggest gains, we saw furniture up 1.4%, recreational commodity stores up 0.8%, cars and parts up 1.6%, and that was on the back of greater incentives that we saw last month as well. So seeing a lot of that resiliency, that being said, there were some signs of caution. For example, restaurants and bar sales that declined by 0.4%. We also saw electronic sales fall. Now that may reflect some of those tariff induced pricing pressures. But overall, we are seeing this resilient consumer, and that is key for the Fed, a consumer that continues to spend, but they're only going to continue to spend if they have a job. So that circles back to the labor side of the equation. That's why that is so important when it comes to the Fed's dual mandate. Of course, earlier this week, we saw that hotter than expected PPI print coming in at a three-year high. That complicates things for the Fed as it moves forward because they want to make sure that they have the labor market that is so solid that it can continue to support that consumer, but they don't want inflation to run away. So like you were saying, it really does not help the Fed when it comes to their decision next month. Related Videos Consumer health is 'relatively sunny,' but some risks persist What economists are saying about inflation now What Fed's Jackson Hole Symposium could mean for markets Markets still expect Sept. Fed rate cut, despite hot PPI data Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 hours ago
- Yahoo
AmpliTech Group Inc (AMPG) Q2 2025 Earnings Call Highlights: Record Sales and Strategic ...
Release Date: August 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points AmpliTech Group Inc (NASDAQ:AMPG) achieved record sales of over $11 million in Q2 2025, surpassing total sales for the entire 2024 fiscal year. The company has a strong financial position with $16,423,000 in cash and cash equivalents and no long-term debt. AmpliTech Group Inc (NASDAQ:AMPG) has secured multiple purchase orders and LOIs with prominent 5G players, indicating strong future revenue potential. The company is strategically positioned to benefit from major US government initiatives, including rural broadband funding and the CHIPS Act. AmpliTech Group Inc (NASDAQ:AMPG) is the only US-based company providing complete vertically integrated end-to-end commercial and defense-grade networking solutions, offering a trusted alternative to foreign suppliers. Negative Points The company experienced lower than normal gross profit margins in Q2 2025 due to front-loaded investments and one-time costs. AmpliTech Group Inc (NASDAQ:AMPG) incurred several one-time costs, including license fees and initial production line fees, which impacted profitability. The quantum computing business is not yet at a production phase, limiting immediate revenue potential from this segment. The satellite business is expected to start generating revenue only next year, indicating a delay in realizing returns from this division. The company had to expedite material and pay premiums to meet Q2 delivery requirements, which increased costs and affected margins. Q & A Highlights Warning! GuruFocus has detected 4 Warning Signs with AMPG. Q: Can you provide more details on the orders from the second tier one customer and the expected timeline for additional orders? A: We have already received orders from the second tier one customer, which are part of our backlog. We have two main Letters of Intent (LOIs), one for $170 million and another for $40 million. We have actively shipped against the $40 million LOI during Q2 and received additional orders for production quantities for this year and the start of next year. For the $170 million LOI, we have received about $2.5 million worth of orders, with the bulk expected between 2026 and 2027. George Flores, COO Q: How is the pipeline looking with other operators around the world? A: While we can't provide specific numbers, the transition to 5G OAN technology is imminent for many other MNOs. Our successful implementation with current partners has made it more viable for other large MNOs to pursue this opportunity. We expect a positive response from other MNOs next year. Pava McGul, CEO Q: Can you update us on the progress in the quantum computing space? A: Quantum computing is not yet at a production phase. We have delivered products to large companies, but the market is still in R&D. Quantum computing will eventually power AI, replacing current silicon applications. When production ramps up, our components will be essential, but this is not expected immediately. Pava McGul, CEO Q: What is the status of your space division and the backlog for next year? A: Our space products are geared towards low Earth orbit applications. The satellite business is expected to start next year as satellites are being built out. We have developed space-qualified hardware to support these applications, but significant demand is anticipated to begin next year. Pava McGul, CEO Q: How are you managing inventory and manufacturing to meet demand? A: We have a strong relationship with our customers, allowing us to see their forecasts and activate our supply chain accordingly. This has helped us avoid expediting costs and manage inventory effectively. We are building to order and keeping inventory levels manageable to support upcoming orders across our divisions. George Flores, COO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
