Page 24 - ARUBA TODAY

Monday 4 SepteMber 2017 BUSINESS
A24

Survey: US August factory activity at 6-plus year high

month,” Timothy Fiore, also among the “Big Six,”
chair of ISM’s manufactur- account for 7 percent. Tex-
ing business survey commit- as represents more than 10
tee, said in a telephone in- percent of U.S. manufac-
terview. He noted that the turing production. Chemi-
growth was mostly driven cal products refining in the
by the top manufacturing state accounts for 20 per-
sectors. cent of the U.S. total, and
It’s early to predict the im- oil and gas represents 30
pact on the oil, gas and percent.
chemical industries and on U.S. factories have largely
the broader economy of recovered from a slump in
Hurricane Harvey. But Fiore late 2015 and early 2016
said a snap survey of ISM caused by cutbacks in
members showed there the energy industry and a
likely will be a significant strong dollar, which makes
hit to the petroleum and U.S. goods more expensive
chemical products sectors in foreign markets. Manu-
and “lots of supply chain facturing employment
disruptions.” began a sustained turn-
Refining capacity, raw ma- around in December and
terials and the ability to de- enjoyed four additional
In this May 25, 2017 photo, apprentice Ryan Buzzy, right, works with Skip Johnson, a trainer for the liver products all have been months of job gains, only to
Stihl Inc. apprenticeship program, on a metalworking lathe in their training area at the Stihl Inc. drastically affected by the have factories shed 1,000
manufacturing facility in Virginia Beach, Va. The Institute for Supply Management, a trade group
of purchasing managers, issued its index of manufacturing activity for August this weekend. storm that lashed Houston workers in May.
(AP Photo/John Minchillo) and nearby areas and shut New government data is-
down oil refineries, plastics sued Friday showed that
plants and the Houston manufacturing was one of
By MARCY GORDON agement said Friday that nomic growth. port — the second-busiest the leading sources of U.S.
AP Business Writer its manufacturing index Fourteen of eighteen in the nation. There have job growth in August, add-
WASHINGTON (AP) — U.S. rose to 58.8 percent last manufacturing industries been widespread reports ing 36,000.
factories expanded at a month from 56.3 percent surveyed by ISM posted of gasoline shortages. For August, the manufac-
brisk pace in August, a in July. Anything above 50 growth in August, including The chemical products sec- turing production compo-
likely sign of strength for the signals that factory activity the machinery, petroleum tor is one of the six biggest nent of the ISM index rose
U.S. economy as new or- is increasing. and coal products, and manufacturing industries, 0.4 point to a reading of
ders, production and em- The measure now stands at computer and electronic accounting for 17 percent 61 in August. Employment
ployment all improved. its highest level since April products sectors. of total activity, Fiore not- climbed 4.7 points to 59.9
The Institute for Supply Man- 2011, pointing to solid eco- August was “a really strong
ed. Petroleum and coal, percent. q

Video streaming player pioneer Roku seeks $100M in IPO

SAN FRANCISCO (AP) — government regulators. The players, which are usually it may cut the prices on its of this year, according to
Video streaming player pi- documents provided the connected to large-screen players and try to increase the market research firm
oneer Roku is going public, first peek at Roku’s finances televisions. That’s because its revenue from advertising Park Associates. Amazon
hoping to raise money to and other previously con- multiple players can be- sales. Pursuing that strategy Fire TV ranked second with
expand into more house- fidential information. Like long to the same account. may require more money, a 24 percent market share,
holds and fend off com- many young tech compa- People streamed 9.5 bil- one of the reasons that followed by Google’s Chro-
petitive threats from bigger nies, Roku is still unprofit- lion hours of video on Roku Roku is going public now. mecast at 18 percent and
technology companies. able. Last year, it lost nearly players last year, accord- The company currently has Apple TV at 15 percent.
Roku listed a $100 million $43 million on $399 million in ing to its IPO documents. about $70 million in cash. Most of Roku is currently
fundraising target in a Fri- revenue. Since its 2002 in- Roku generates most of That isn’t much to combat owned by Anthony Wood,
day regulatory filing. But ception, Roku has amassed its revenue from selling its Amazon, Google and Ap- its founder and CEO, and
that figure is likely to change $244 million in losses. streaming players, but it’s ple, Roku’s deep-pocketed Menlo Ventures, a venture
after its investment bank- The Los Gatos, California, increasingly bringing in rivals in the video-streaming capital firm. Wood, who
ers gauge the demand for company boasted 15 mil- money from advertising player market. Even though previously invented one
its initial public offering of lion active users at the end and commissions from sub- it’s much smaller, Roku has of the first digital video re-
stock. Companies typically of June, but that number scriptions and other trans- emerged as the U.S. market corders, owns a 28 percent
complete their IPOs two doesn’t reflect the total au- actions made on its devic- leader in streaming players, stake in Roku and Menlo
to four months after filing dience that watches online es. In an attempt to broad- with a 37 percent share Ventures has a 35 percent
then getting approval from video through its streaming en its audience, Roku said during the first three months stake.q