STMicro cautions on fourth-quarter margin

Europe's largest semiconductor manufacturer STMicroelectronics http://www.st.com expects its fourth-quarter revenue growth will be at the higher end of what was previously expected, but has warned its gross margin was less than expected. As the Financial Times (FT) http://www.ft.com reports, the French-Italian group estimated that net revenues for the three months leading up to December 31 would be 2.3 billion dollars (1.7 billion euros), a 4.3 per cent increase on the previous quarter and within its forecast of between flat and 5 per cent growth.