<ul><li>The first movie to be released directly on the platform will be Sushant Singh Rajput's Dil Bechara.</li><li>Between July and October, the platform will directly launch 7 big-ticket Bollywood releases on the platform.</li></ul> Disney+ Hotstar is announced the launch of Disney+ Hotstar Multiplex that will see the <keyword id="4722197" type="PERSON" weightage="20" keywordseo="direct-release">direct release</keyword> of Bollywood movies on the OTT platform. Starting July 24,the platform will launch 7 big-ticket movies including Akshay Kumar and Kiara Advani's Laxmmi Bomb, Ajay Devgn, Sonakshi Sinha and Sanjay Dutt's Bhuj: The Pride of India, late Sushant Singh Rajput, Sanjana Sanghi and Saif Ali Khan's Dil Bechara, Sanjay Dutt, Alia Bhatt, Aditya Roy Kapur and Pooja Bhatt's Sadak 2, Abhishek Bachchan's The Big Bull, Vidyut Jammwal's Khuda Haafiz and Kunal Kemmu and Rasika Dugal's Lootcase amongst others. Disney+ Hotstar Multiplex will usher in a new re-imagined ‘first-day first-show’ for Bollywood fans, by treating them to the most anticipated movies of superstars like Akshay Kumar &amp; Ajay Devgn being delivered directly to their mobiles; truly experiencing ‘First Day First Show ki home delivery’. Existing subscribers of Disney+ Hotstar Premium and Disney+ Hotstar VIP can enjoy these blockbuster movies at no additional cost to their existing subscription. Non-subscribers can simply purchase an annual membership of Disney+ Hotstar VIP at Rs 399/- to catch all these movies, and also enjoy exclusive Hotstar Specials, the world’s biggest Super Hero movies &amp; kids favourite characters in Hindi, Tamil &amp; Telugu, unlimited LIVE sports and much more - making it the best entertainment service in the country! The first movie of Disney+ Hotstar Multiplex will be Dil Bechara, starring late Sushant Singh Rajput; and to commemorate his invaluable contribution to Hindi cinema, this movie will be available to all subscribers and non-subscribers of Disney+ Hotstar. <keyword id="105547" type="PERSON" weightage="20" keywordseo="Uday-Shankar">Uday Shankar</keyword> - President, <keyword id="9435264" type="COMPANY" weightage="20" keywordseo="the-walt-disney-company-apac">The Walt Disney Company APAC</keyword> and Chairman, Star &amp; Disney India, said “At Disney+ Hotstar, we firmly believe in pushing boundaries to achieve the unexpected. A few years ago, we took an audacious step of bringing sports closer to people by streaming it LIVE on mobile devices – a move that forever changed the course of LIVE sports in India. Today as we launch Disney+ Hotstar Multiplex, we find ourselves yet again at the cusp of making a revolutionary change by bringing the biggest Bollywood movies directly to millions across the country. We are happy to partner with the best directors and most talented actors; and provide them with a platform to present their masterpieces.” Speaking about this initiative and its effect on the overall industry, he further added, “Theatres are a special experience. So, they will always exist and thrive. But the potential of the industry can’t be capped by the number of release windows and theatres available. Our initiative will dramatically increase the number of films that can be made, giving film-lovers more films to enjoy and the creative community more films to make. We firmly believe that this will generate a massive momentum for more and different kinds of films to be made in India. It’s a win-win for all.” Akshay Kumar who stars in Laxmmi Bomb said, “We are excited and glad to have our movie Laxmmi Bomb being made available to millions of fans across the country on Disney+ Hotstar VIP! The movie is extremely dear to me as it is something unique I have attempted for the first time! It is an entertaining mélange of horror and humour and it has a strong social message attached to it! I am certain that this movie will bring joy and hope for everyone in these trying times!” Ajay Devgn who will be seen in Bhuj: The Pride of India added, "Having done a hundred films, I definitely took it for granted that theatres were where our films were meant to play. However, two things happened suddenly and almost simultaneously. The Corona pandemic threw all our comfort worlds into a tizzy. And, at the same time the OTT medium that was a fairly new phenomenon gained a huge significance as far as consuming entertainment is concerned. In the future, Theatres and OTT will move in parallel. Both options offer their own strengths. Bhuj: The Pride of India on Disney+ Hotstar VIP – a platform that will showcase our film across the length and breadth of the country. I think people will once again start looking forward to new film releases.” Alia Bhatt who stars in the sequel of iconic movies Sadak (released in 1991) said, “Sadak 2 is a movie that is very close to my heart; it was my first time working with my father, which makes this a dream come true. It has a very new but relevant emotional pulse, with an amazing cast. Working with Aditya, Sanjay Dutt and Pooja has been magical. These are extraordinary and difficult times and all of us are trying to get through it, taking each day at a time. My father always says that a filmmaker’s destination is the audience’s heart. Disney+ Hotstar VIP gives us that opportunity to connect with our audience all across the country” Abhishek Bachchan who stars in The Big Bull said, “There is nothing greater than the joy of being able to entertain someone through movies and great storytelling. And that’s exactly what The Big Bull will do - it will keep audiences hooked till the very end. I’m glad that the movie will launch on a platform like Disney+ Hotstar VIP where people from across the country will be able to enjoy it upon release”

Disney+ Hotstar Multiplex to release 7 Bollywood movies directly on its platform between July and October

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>"We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future."
In an <a href="http://www.microchip.com/investor/Pressrelease/Microchip%20Announces%20Preliminary%20Net%20Sales%20for%20Q2FY15.100914.pdf">announcement</a> on Thursday night, Microchip president and CEO Steve Sanghi sounded the alarm for the semiconductor industry with the above quote, and on Friday shares of Microchip and the whole sector are getting crushed.
In afternoon trade on Friday, Microchip shares were down 11%, while the SMH ETF that tracks the semiconductor sector was down about 5%. 
Microchip, with a market cap of $8 billion, is a good-sized company, but its warning is impacting companies as large Intel, which has a market cap of over $160 billion and was down as much as 4% on Friday.
Other semiconductor and tech companies under pressure on Friday include Texas Instruments (-7%), Micron (-7%), Analog Devices (-5%), Freescale Semiconductors (-10%), and STMicroelectronics (-4%).
The tech-heavy Nasdaq was also feeling the heat on Friday, falling about 0.5% as the semiconductor warning, as well as the steep drop in Tesla shares, weighed on the index.
Microchip said that in the second quarter it expects revenue to come in at about $546.2 million, below the $560-$575.9 million the company <a href="http://www.microchip.com/investor/Pressrelease/MCHP%20Announces%20Q1FY15%20Financial%20Results.073114.pdf">previously expected</a>.
Additionally, Thursday's guidance includes $16.9 million in sales from its recent ISSC acquisition, down from expectations for $18 million in July. 
"Microchip often sees the turn of the industry ahead of others in the semiconductor industry," Sanghi said.
"First, in contrast to many others in the industry, we report sales from distribution on a sell-through basis worldwide. We built a significant amount of inventory in the distribution channel in the September quarter. If like many others in the industry, we recognized sales on a sell-in basis to our distributors, our sales would been significantly higher for the September quarter."
So basically Sanghi is saying that revenue is going to decline for its competitors, too, but that this might show up on a delay given how they do their accounting. 
Sanghi also said that the revenue miss for the second quarter was led by China where the September quarter is "traditionally the strongest." 
Sanghi said Microchip is currently reducing production levels and that during industry corrections, sequential growth - or growth in consecutive quarters - typically returns after two quarters and the company expects the same this time. 
Here's the ugly intraday chart of Microchip, which basically fell off a cliff at the open and hasn't recovered. 
<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>

It Took Just One Sentence From A Semiconductor CEO To Send Tech Stocks Into Free Fall

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>On Thursday night, Microchip CEO Steve Sanghi <a href="http://www.businessinsider.com/microchip-revenue-warning-october-10-2014-10">sounded the alarm</a> on the semiconductor industry, saying that an "industry correction" has begun and will sweep across the sector in the coming quarters.
Citi semiconductor analysts David Phipps and Ashish Nair explained in a brief paragraph in their latest note exactly what Sanghi is talking about.
They write:
"In semiconductor speak, an inventory correction occurs whenever demand drops off for a moderate period of time and can occur during economic expansion or contraction. Inventory corrections typically last 2-3 quarters with a step-down in demand and reduced visibility. The economic impacts are lower sales and margins. Semiconductor company marginal revenue dollar has about a 50% translation into EBITDA."
In the same note Phipps and Nair cut their forecasts on Freescale and NXP Semiconductors (they don't cover Microchip).
So that's what going on in the world of semiconductors on Friday and what analysts expect will happen over the coming months.

Citi Explains The Scary Warning That Has Tech Stocks Everywhere Tumbling

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Stocks finished lower on Friday as tech stocks led the market lower after an ominous warning from one CEO in the semiconductor industry weighed on the sector. Tesla shares also put the Nasdaq under pressure, while the Dow and S&amp;P 500 were mixed for most of the day before tumbling late in the day to close near session lows. Stocks had a tough and volatile week, with all major indexes falling more than 2%.
First, the scoreboard:
<ul>
<li>Dow: 16,564.6, -111, (-0.6%)</li>
<li>S&amp;P 500: 1,907.7, -21, (-1%)</li>
<li>Nasdaq: 4,279.6, -102, (-2.2%)</li>
</ul>
And now, the top stories on Friday:
1. Microchip CEO Steve Sanghi <a href="http://www.businessinsider.com/microchip-revenue-warning-october-10-2014-10">sounded the alarm</a> on the semiconductor space, saying that another "industry correction" is coming to semiconductors. "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future," Sanghi said. Shares of Microchip lost more than 11% on Friday, and a number of its peers including Micron, STMicroelectronics, and Freescale Semiconductors all lost more than 5% on Friday.
2. In a note to clients following Sanghi's comments, <a href="http://www.businessinsider.com/semiconductor-inventory-correction-explained-2014-10">analysts at Citi explained</a> just what an "industry" or "inventory" correction means for semiconductor companies. "In semiconductor speak, an inventory correction occurs whenever demand drops off for a moderate period of time and can occur during economic expansion or contraction," wrote Citi analysts David Phipps and Ashish Nair. "Inventory corrections typically last 2-3 quarters with a step-down in demand and reduced visibility. The economic impacts are lower sales and margins. Semiconductor company marginal revenue dollar has about a 50% translation into EBITDA." So, something to keep in mind as we head into earnings season.
3. Electric carmaker Tesla was another big loser on Friday, <a href="http://www.businessinsider.com/tesla-shares-fall-oct-10-2014-10">falling</a> more than 8% after <a href="http://www.businessinsider.com/elon-musk-is-about-to-reveal-the-tesla-d-2014-10">announcing</a> a new all-wheel drive model on Thursday night. Tesla shares fell a bit victim to the old adage of "sell the news," as Thursday's announcement was teased in a much-hyped tweet from CEO Elon Musk about two weeks ago. 
4. Shares of GT Advanced fell more than 30% to about $0.80 after <a href="http://www.businessinsider.com/gt-advanced-to-wind-down-operations-2014-10">reports indicated</a> that the company said it has sought court approval to wind down its sapphire operations. GT Advanced, which <a href="http://www.businessinsider.com/gt-advanced-files-for-bankruptcy-2014-10">filed for bankruptcy</a> earlier this week, had signed a sapphire supply agreement with Apple last year.
5. JPMorgan CEO Jamie Dimon <a href="http://www.businessinsider.com/jamie-dimon-speaks-at-iif-meeting-2014-10">spoke publicly</a> for the first time since announcing that he was diagnosed with throat cancer back in July. Dimon spoke on a panel at the Institute of International Finance in Washington, D.C. today, appearing with CEO peers Brian Moynihan, James Gorman, and Anshu Jain, from Bank of America, Morgan Stanley, and Deutsche Bank, respectively. <a href="http://www.businessinsider.com/jamie-dimon-speaks-at-iif-meeting-2014-10">Business Insider's Shane Ferro has the full recap here.</a>
6. The Russian ruble <a href="http://www.businessinsider.com/the-ruble-is-getting-crushed-again-2014-10">fell again</a> against the dollar, bringing the currency's losses to more than 17% since the end of June. 
7. Alpha Pro Tech, which makes protective face masks and other protective gear, <a href="http://www.businessinsider.com/alpha-pro-tech-surges-2014-10">rose more than 40%</a> on Friday as it became just the latest peripheral way that investors have trading around news regarding the Ebola breakout. Lakeland Industries, which makes hazmat suits, has rallied hard over the last month, which drug companies like Tekmira and Chimerix remain active.
8. S&amp;P<a href="http://www.cnbc.com/id/102077802"> cut its outlook</a> for France to negative from stable, citing concerns about the country's economy and the government's budgetary situation. France was last downgraded by S&amp;P in November 2013.

MARKETS CRUMBLE AGAIN, TECH STOCKS GET CRUSHED: Here's What You Need To Know

<keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword>, the Noida-headquartered digital payments solutions company has made some top-level additions to its payments bank arm, with <keyword id="3363917" type="UNKNOWN" weightage="100" keywordseo="Ruchita-Taneja-Aggarwal">Ruchita Taneja Aggarwal</keyword> and <keyword id="3363918" type="UNKNOWN" weightage="100" keywordseo="Priya-Karnik">Priya Karnik</keyword> from Citibank India being hired as head of banking operations and head of product development for banking operations, respectively. 
 
Aggarwal worked as the director of treasury and trade solutions and Singapore head for regional product sales at Citibank, while Karnik was director of treasury and trade solutions, regional implementation. 
 
With these appointments, the payments arm of the <a href="http://www.businessinsider.in/Alibaba-to-enter-in-India-via-Paytm/articleshow/51490871.cms" target="_BLANK￿￿￿￿">Alibaba-backed</a> company has got its leadership team across FMCG, consultancy, banking and e-commerce businesses before its banking services roll-out in August. 
 
Also read: <a href="http://www.businessinsider.in/Alibaba-India-logistics-companies/articleshow/52235513.cms" target="_BLANK￿￿￿￿">Indian logistic companies look forward to partnering with Alibaba for its India entry</a> 
 
It was earlier this year that <a href="http://www.businessinsider.in/Paytm-payments-bank-to-be-headed-by-former-RBI-and-PwC-executive-Shinjini-Kumar/articleshow/51056601.cms" target="_BLANK￿￿￿￿">Shinjini Kumar</a> from RBI and PwC was hired for Paytm’s payments bank, which was followed by <a href="http://www.businessinsider.in/Amazon-India-Fashion-head-quits/articleshow/49014573.cms" target="_BLANK￿￿￿￿">Vikas Purohit</a> from Amazon, Kshitij Sanghi from McKinsey, <a href="http://www.businessinsider.in/Know-everything-about-Paytms-Project-Pokhran/articleshow/50528221.cms" target="_BLANK￿￿￿￿">Varun Khullar</a> from ITC and Vipin Surelia from the RBI, who were all taken in as VPs of various verticals. 
 
Also read: <a href="http://www.businessinsider.in/Paytm-in-parking-lots/articleshow/52142106.cms" target="_BLANK￿￿￿￿">Go cashless: Paytm ties up with 500 parking lots to let you park cars without cash</a> 
 
"It is no secret Paytm is expanding and diversifying at an exponential rate. Joining the organisation gives me an unparalleled opportunity to work with some of the most well-known industry thought leaders who are trying to build something new and unique," Karnik was quoted saying. 
 
Amit Sinha, vice president at Paytm said, "We are committed to keep enhancing our services and product portfolio. We are confident that with (Aggarwal and Karnik) on board, we will be able to drive greater growth and success."

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Disney+ Hotstar Multiplex to release 7 Bollywood movies directly on its platform between July and October

BI India Partner

It Took Just One Sentence From A Semiconductor CEO To Send Tech Stocks Into Free Fall

Myles Udland

Citi Explains The Scary Warning That Has Tech Stocks Everywhere Tumbling

Myles Udland

MARKETS CRUMBLE AGAIN, TECH STOCKS GET CRUSHED: Here's What You Need To Know

Myles Udland

Former Citibank executives to lead banking operations at Paytm’s payments bank

BI India Bureau