Cisco issued fiscal fourth-quarter results on Wednesday that topped analysts’ projections and provided a better-than-expected forecast for the coming year. The stock rose about 4.5% in extended trading. Here’s how the company did: Earnings: 83 cents per share, adjusted, vs. 82 cents per share as expected by analysts, according to Refinitiv. Revenue: $13.10 billion, vs.
A sign bearing the logo for communications and security tech giant Cisco Systems Inc is seen outside one of its offices in San Jose, California, August 11, 2022. Paresh Dave | Reuters Check out the companies making headlines in after hours trading: Cisco — Shares of the networking company advanced more than 3% following Cisco’s
Norway’s central bank, also known as Norges Bank, in Oslo, Norway. Kristian Helgesen/Bloomberg | Bloomberg | Getty Images Norway’s sovereign wealth fund, the largest in the world, had a loss of 1.68 trillion Norwegian kroner ($174 billion) in the first half of 2022, as stock markets more broadly saw a tumultuous six months. The $1.3
People stand in line at a Social Security Office in Pasadena, California. Mario Anzuoni | Reuters People who face long waits for service at the Social Security Administration’s field offices have had to contend with one more complication this summer — intense heat. That prompted leaders of the House Ways and Means Committee to send
Topline Despite falling mortgage rates providing some relief to potential home buyers, mortgage applications fell to the lowest level since the turn of the century last week—providing fresh evidence that the housing market downturn may have room to run as some experts worry about how the collapse will damage the broader economy. Key Facts Mortgage
For tax whistleblowers, deciding whether to go to Tax Court is a major decision. As I’ve written previously there are a number of factors that go into deciding whether it makes sense to go to Tax Court for a whistleblower case. Moreover, two recent court decisions have provided clarity on that decision – and have
Topline The Federal Reserve reaffirmed that it is unlikely to take its foot off the pedal as it continues to raise interest rates until inflation eases in a meaningful way, with officials indicating that it will “take some time” before a reversal in monetary policy, according to the minutes from the central bank’s latest policy
Actor Ezra Miller arrives at the premiere of Warner Bros. Pictures’ ‘Justice League’ at Dolby Theatre on November 13, 2017 in Hollywood, California. Axelle/bauer-griffin | Filmmagic | Getty Images Ezra Miller’s apology could be the first step in a potential redemption story, but there’s no guarantee it’ll have a satisfying ending. On Monday, the actor
In this article TGT FILE PHOTO: Shoppers exit a Target store during Black Friday sales in Brooklyn, New York, U.S., November 26, 2021. Brendan Mcdermid | Reuters Target on Wednesday said its quarterly profit fell nearly 90% from a year ago, as the retailer followed through on its warning that steep markdowns on unwanted merchandise
In this article A ADI TTWO TDOC SAN-FR BBBY TGT DNUT Scott Olson | Getty Images Check out the companies making the biggest moves midday: Target — Shares of the retailer slid more than 2% after its earnings missed Wall Street expectations by a wide margin. The company said its quarterly profit fell almost 90%
Everyone learns crucial lessons in the early stages of their career: when to leave a job, how to negotiate a raise, how to write a cohesive email. But Mark Cuban said his first jobs taught him the most important lesson of his career: the art of sales. In a TikTok posted in March, the billionaire
Representative Ilhan Omar (D-MN) joins activists in a demonstration outside an entrance to the White House calling for the cancellation of student debt in Washington, U.S., April 27, 2022. Evelyn Hockstein | Reuters Planning his budget for next month, Scott Heins doesn’t know if he’ll have the usual cash he needs for his health-care expenses
Patricks Island is its own slice of tropical bliss – a canal-filled residential community on Grand Cayman. Patricks Island is a tax-free haven and the largest of the Western Caribbean’s Cayman Islands. 1503 Property Group The tax-free haven, the largest of the Western Caribbean’s Cayman Islands, is known for its beaches, resorts, snorkeling and scuba
Whether the FBI took former President Trump’s passports—and if so why—is a story inside a bigger story that just won’t quit. There was a dispute about whether the FBI took the passports, and if so, by mistake or on purpose. Public opinion was, as with so many things, divided, with some people saying that Trump
Topline The stock market moved higher on Monday despite disappointing economic data out of China leading to rising concerns about a global recession and a drop in oil prices; meanwhile, investors are looking ahead to a big week of retail earnings. Key Facts Stocks rose after four straight weeks of gains: The Dow Jones Industrial
Rising costs and falling confidence in the U.S. economy are fast becoming a toxic cocktail for the housing market. As a result, a growing number of buyers are backing out of deals they’ve made with homebuilders and sellers of existing homes. Homebuilder cancellation rates have more than doubled since April, according to surveys by John
In this article 700-HK Tencent has faced a number of headwinds in 2022 including a Covid-induced slowdown in the Chinese economy and a tougher market for gaming. Bobby Yip | Reuters Tencent posted its first ever quarterly year-on-year revenue decline as stricter regulations around gaming in China and a resurgence of Covid-19 in the world’s
Chinese Premier Li Keqiang headed an economic meeting Tuesday at which six leaders from “economically strong provinces” spoke via video. Pictured here is Li at a World Economic Forum virtual event in July 2022. Xinhua News Agency | Xinhua News Agency | Getty Images BEIJING — Chinese Premier Li Keqiang has called on six provinces
It’s an island that is closer to France than to England — yet it is part of the British Isles. It’s home to miles of tunnels built during World War II — but by German rather than British soldiers. And it has lower taxes than the U.K. and its own financial rules. The island of
The Good Brigade | Digitalvision | Getty Images A new legislative package signed into law by President Joe Biden on Tuesday is a big win for Medicare patients who struggle to cover the cost of insulin to manage their diabetes. But the bill, called the Inflation Reduction Act, falls short of applying those cost controls