NXP TARGETS $3.85 BILLION IN Q4 REVENUE

NXP Semiconductors guided fourth-quarter revenue to a $3.85 billion midpoint, with a range of $3.75 billion to $3.95 billion. The board also authorized a new $5 billion share buyback, on top of the $1.3 billion left from the prior program, pushing total repurchase capacity to about $6.3 billion. $NXPI now has more cash earmarked for buybacks than it expects to earn in a quarter of sales.