Cisco Systems Inc topped Wall Street targets for quarterly revenue and profit and forecast first-quarter sales above estimates on Wednesday, as the network gear maker’s transition to a software-focused company gains traction.
Cisco, like other legacy technology companies, has been launching new products focused on high-growth areas such as cyber security and Internet of Things to cushion sluggish demand in its traditional routers and switches business. “We’re seeing the returns on the investments we are making in innovation and driving the shift to more software and subscriptions,” Chief Financial Officer Kelly Kramer told analysts on a post-earnings call. Subscriptions, which provide a more steady revenue stream, represented 56 percent of total software revenue in the reported quarter, the company said. …read more […]
Todd Gordon, TradingAnalysis.com founder, discusses his outlook on three tech stocks. …read more […]
The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira.
Cisco (CSCO) delivered earnings and revenue surprises of 1.45% and 0.59%, respectively, for the quarter ended July 2018. Do the numbers hold clues to what lies ahead for the stock? …read more […]
A fakeout breakout above S&P 2850 has given way to wider selling that will persist into September. …read more […]
Equities around the world took a dive led by emerging market stocks on Wednesday and commodities tumbled as investors looked for safety due to worries about China and Turkey.
Wall Street fell in a day of heavy trading on Wednesday with the S&P 500 posting its biggest percentage drop since late June as investors turned risk-averse on disappointing earnings and escalating global tariff worries.
Shares of Macy’s (M) were down nearly 14% in afternoon trading Wednesday after the department store giant’s second-quarter revenue fell short of expectations. Wall Street’s attention will now shift to its industry rivals, Nordstrom (JWN) and J.C. Penney (JCP), which are both due to post their latest quarterly earnings reports tomorrow. …read more […]
On a per-share basis, the San Jose, California-based company said it had net income of 81 cents. Earnings, adjusted for one-time gains and costs, were 70 cents per share. The results surpassed Wall Street … …read more […]
The Sunnyvale, California-based company said it had profit of $1.05 per share. Earnings, adjusted for non-recurring gains, came to $1.04 per share. The results topped Wall Street expectations. The average … …read more […]
Cisco Systems Inc reported quarterly revenue above Wall Street estimates on Wednesday, driven by growth in the network gear maker’s newer businesses such as cyber security.
The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira.
U.S. stocks closed lower on Wednesday, with the S&P 500 posting its biggest daily percentage decline since June, as investors turned risk averse on a series of disappointing earnings and escalating global tariff worries.
ISTANBUL/WASHINGTON (Reuters) – The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira. The White House stance appeared to give Turkish authorities little incentive to work for the release of Andrew Brunson, a pastor on trial in Turkey on terrorism charges and whose case Turkish officials have always said was a matter for the courts. …read more […]
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