|Bid||46.98 x 1300|
|Ask||47.00 x 800|
|Day's Range||46.43 - 47.36|
|52 Week Range||40.25 - 58.26|
|Beta (3Y Monthly)||1.00|
|PE Ratio (TTM)||17.99|
|Earnings Date||Nov 12, 2019 - Nov 18, 2019|
|Forward Dividend & Yield||1.40 (3.03%)|
|1y Target Est||55.65|
US companies are watering down their spending plans as the threat of slowing global growth and the trade war sap business confidence. Capital expenditure, or capex, is set to grow 3.5 per cent this year, a sharp drop from the 4.2 per cent anticipated just four months ago, according to Citi analysts. “Capex has been one of the biggest concerns about the state of the economy,” said Max Gokhman, head of asset allocation for Pacific Life Fund Advisors.
Benzinga has examined the prospects for many investor favorite stocks over the past week. Bullish calls included tech leaders and a retail colossus. Bearish calls also included tech giants, as well as ...
Cisco Systems Inc.’s weak forecast for the current quarter is weighing on the networking giant’s shares, and some see further pain in store.
The stock market fell in volatile fashion amid China trade news and the first inverted yield curve since 2007. Walmart, Cisco, Macy's, GE were big movers.
The ongoing trade war with China is having an impact on Triangle companies. Michael Walden, North Carolina State University professor and economist, says the tariff situation has created a headwind that’s likely responsible for shaving 0.6 percentage points off GDP growth. “While businesses can ultimately obtain products from sources other than China, changing supply chains takes a while,” he says.
Robbins told investors the Chinese market was “certainly not a major play for us, but it has just dropped precipitously in light of the trade discussions.”
Cloud networking is the fastest-growing segment in the wireless industry, Extreme CEO Ed Meyercord told the Business Journal on Wednesday, and the San Jose company didn’t have the technology to keep pace before it acquired Aerohive.
The S&P 500 and the Dow gained ground in a late rally on Thursday as upbeat retail sales data offset recessionary fears amid the simmering U.S.-China trade tensions. Wall Street zig-zagged from red to black and back much of the day as investors juggled mixed messages of a strong consumer and dropping U.S. Treasury yields.
It's no shocker, but Thursday has been another volatile trading session. Following Wednesday's action -- where the Dow Jones Industrial Average fell 800 points and the Nasdaq Composite tumbled 3% -- it was a mixed session in the stock market today. It wasn't exactly the rebound that bulls were hoping to muster given the massive declines experienced a day prior.The stock market got off to a quick rally on the day, took an afternoon spill and then regained its footing. The SPDR S&P 500 ETF (NYSEARCA:SPY) rallied roughly 0.4%, the PowerShares QQQ ETF (NASDAQ:QQQ) was mostly flat and the SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) finished higher by about 0.6%.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Movers in the Stock Market TodayShares of Pivotal Software (NYSE:PVTL) erupted almost 70% to just over $14 after it was announced that VMWare (NYSE:VMW) intends to acquire the company at $15 per share. The interesting thing is that VMW -- which is down about 7% on the announcement -- is trying to get Dell Technologies (NYSE:DELL) to exchange its B shares for A shares.General Electric (NYSE:GE) stock fell quite a bit on the day, although recovered off its lows. Shares finished lower by over 11% after a whistleblower called GE "meritless" for hiding financial problems. Accounting issues are never a good sign, and it's no wonder investors sold the stock as a result. However, management has already disputed the claim, calling it market manipulation. * 10 Stocks Under $5 to Buy for Fall Cisco Systems (NASDAQ:CSCO) took it on the chin Thursday, falling over 8% after disappointing quarterly results. While earnings and revenue results came in ahead of expectations, guidance came up a bit short. The stock blew through all sorts of significant support levels, leaving CSCO stock flailing in no man's land. Macro headwinds continue to create problems for U.S. companies and Cisco is the latest one.Alibaba (NYSE:BABA) initially jumped 5% in early Thursday trading. However, the stock closed higher by about 3% after a late-session jump. The action comes after Alibaba reported a top- and bottom-line beat and showed strength in its underlying business. Analysts liked the quarter too, praising the results and maintaining price targets significantly above current levels.(Here's how to trade Alibaba, by the way).What Canopy Growth (NYSE:CGC) investors would give to have the same post-earnings reaction as Alibaba. Shares are getting crushed Thursday, down about 15% after an earnings and revenue miss. A loss of $3.70 per share took investors by huge surprise, thanks to extinguishing warrants with Constellation Brands (NYSE:STZ).However, management did not provide an adjusted earnings result, causing concern and confusion among investors. Revenue came up short too. It was a lose-lose report and now shares are at their lowest point since the start of 2019.The demand for bonds remains intense, as the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) continues to press higher. The ETF hit a new 52-week high on Thursday and the upside volatility continues to cause investor concern in the equity market in the short term. Key Levels to Watch Above is a chart of the SPY ETF, representing the S&P 500. With Thursday's afternoon decline, the August lows near $281.72 were almost tested. Buyers stepped in early enough to prevent it, but many traders are hesitant to buy without the SPY not testing the 200-day moving average.A test of the 200-day would "clear the air" for a lot of investors, so to speak. It would also give investors a pullback down to the 38.2%. Seeing how SPY reacts to this level would help investors gauge what type of environment we're working with.The 20-day is now below the 50-day moving average, indicating that the short-term trend is now more bearish. If the August lows hold, see if the SPY can reclaim the 100-day moving average (not shown above) at $239.40.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks Under $5 to Buy for Fall * 5 Stocks to Avoid Amid the Ongoing Trade War * 7 5G Stocks to Buy Now for the Future The post Stock Market Today: GE, Cisco and Canopy Make Wild Moves appeared first on InvestorPlace.
A day after stocks were slammed, the major U.S. equity benchmarks struggled for direction Thursday. After some of the volatility investors have recently been coping with, today's lethargy was arguably a welcomed respite.If anything today's action was surprisingly positive when considering trade tensions are still commanding headlines. Earlier this week, there was some thawing in trade hostilities when the U.S. pledged to back off imposing tariffs set to go into effect in early September until mid-December. Additionally, it looked like the U.S. and China would at least entertain good faith talks ahead of negotiations slated to commence in a couple of weeks.However, the World Trade Organization (WTO) said today that China can seek sanctions against the U.S. for tariffs already being applied to Chinese imports. Predictably, the U.S. doesn't agree with the WTO and is vowing to appeal the ruling.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Stocks Under $5 to Buy for Fall China is not being shy about its plans to retaliate against the U.S. should any new duties against its goods be applied next month, so trade does remain a pivotal factor for investors to watch in the coming weeks.With those factors in mind, the Nasdaq Composite losing 0.09% and the S&P 500 adding just 0.25% were performances that weren't too shabby. The Dow Jones Industrial Average rose just 0.39%, but again, that's OK given recent showings. Dow Earnings StoriesEarnings season is in its latter stages, but there were a couple of notable reports out today from Dow components. Starting with the better of the two, Walmart (NYSE:WMT) surged 6.13% on volume that was more than double the daily average, after the largest U.S. retailer reported quarterly earnings per share of $1.27, beating Wall Street's forecast by five cents.The company also said same-store sales rose 2.8%, beating the estimate of 2.07% growth. Importantly, there was some good news on the online front, too."Online sales surged 37%, in line with the previous quarter's increase and higher than the company's expectation of 35%," according to Reuters. "Walmart's online expansion has come at a cost to profitability and losses at the U.S. e-commerce business could rise to about $1.7 billion this year from $1.4 billion in 2018, according to estimates from Morgan Stanley."While Walmart was one of the Dow's best performers today, Cisco Systems (NASDAQ:CSCO) was one of the worst, slumping 8.61% on volume that was more than double the daily average in what was one of the stock's worst intraday showings in several years.Cisco gave tepid guidance for the current quarter, prompting a spate of bearish responses by sell-side analysts. At least three analysts lowered price targets on Cisco, with one warning the company may need to rein spending on stock buybacks unless it wants to take on more debt. DJIA Bottom Line: Glimmers of HopeI'll repeat what I frequently say, that being that one decent day or not-so-bad day doesn't make a trend, but there some positive vibes to consider. For one, none other than Warren Buffett continues piling into bank stocks, a group that has been battered in recent weeks.That's relevant in this space because financial services account for 15% of the Dow Jones Industrial Average, the index's third-largest sector weight behind technology and industrials.Second, consumer data in the U.S. remains buoyant, arguably too buoyant to signal an imminent recession. Yes, inverted yield curves cannot simply be glossed over, but nor can consumer spending, and its current pace, consumer data isn't flashing recession warning signs. Just two of the Dow's consumer-sensitive stocks closed lower today and one of those was Walgreens Boost Alliance (NASDAQ:WBA), a name that has been a dog and locked in a bear market for much of this year.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks Under $5 to Buy for Fall * 5 Stocks to Avoid Amid the Ongoing Trade War * 7 5G Stocks to Buy Now for the Future The post Dow Jones Today: When Listless Is a Good Thing appeared first on InvestorPlace.
(Bloomberg) -- Cisco Systems Inc. plummeted the most in almost six years after the company gave a lackluster sales forecast, indicating the U.S.-China trade dispute and a slowing global economy are leading customers to delay updates of their computer networks.Chief Executive Officer Chuck Robbins is trying to turn Cisco into more of a software and services company, but the transformation is being stymied by the trade war and its impact on corporate spending. The company still gets the majority of sales from machines that are the backbone of the internet, making it an economic bellwether. The CEO said some customers are showing more caution because of escalating trade tensions.“They’re just hedging their bets relative to some resolution on this stuff,” Robbins said. “We did see in July some slight early indications of some macro shifts that we didn’t see in the prior quarter.” Robbins said Wednesday.Cisco shares declined 8.6% to $46.25 at the close in New York, the biggest single-day fall since November 2013. It was the worst performer Thursday on the Dow Jones Industrial Average. Even with Thursday’s drop, the stock has gained 6.7% this year.Cisco said sales in the fiscal first quarter will be flat to an increase of as much as 2% from the period a year earlier. That implies revenue of as little as $12.9 billion, compared with analysts’ average estimate of $13.4 billion. Adjusted profit will be 80 cents to 82 cents a share, the San Jose, California-based company said Wednesday in a statement.In the fourth quarter, which ended July 27, total orders were unchanged. Emerging markets bookings were down and the Asia Pacific region saw a decline of 8%, Chief Financial Officer Kelly Kramer said on a conference call with analysts.While Cisco gets less than 3% of revenue from China, business there has dropped “dramatically,” Robbins said. State-owned enterprises and some Chinese telecom providers that had used small amounts of Cisco machinery are not interested in bids from the company amid the current trade tension, he explained.Fiscal fourth-quarter net income fell to $2.2 billion, or 51 cents a share, from $3.8 billion, or 81 cents, a year earlier. Revenue was $13.4 billion, a seventh quarterly expansion. Excluding certain items, Cisco posted profit of 83 cents a share, compared with the average analyst estimate of 82 cents, according to data compiled by Bloomberg.Orders in the Americas and Europe increased, albeit slowly. Bookings from service providers, such as telecom and cable-TV operators, slumped 21%, while government and commercial customers sought more gear than they had a year earlier, Cisco said.Cable companies aren’t buying new equipment -- instead, they’re trying to wring as much life as they can out of their existing gear, Robbins said in an interview. The phone-service providers are spending on consumer 5G, or fifth generation, networks. These customers will shift investment to Cisco’s gear, which lives in their data centers, when they’re deploying business services on those new networks that require greater traffic management, he said.Robbins said he sees little need for concern that the overall economy is about to drop.“There’s a lot of geopolitical dynamics, and I’ve said multiple times that I’ve been shocked how well the macro has held up,” he said. “In most of the world it wasn’t terrible at all. I would not make it a broad-based assertion yet.”In the recent period, Cisco’s hardware business generated sales of $7.88 billion, a gain of 6%. Applications, its software unit, was up 11% at $1.49 billion and security revenue jumped 14% to $714 million.Cisco is the biggest maker of routers, switches and other gear used to connect computers. The company gets a tiny percentage of sales from China, where it’s been largely locked out of the market. Almost 60% of revenue comes from the Americas region.Under Robbins, Cisco has made a string of acquisitions to build a software and services business. Earlier this month, it announced plans to buy closely held Voicea, a maker of software that provides real-time transcription and voice search capabilities.Cisco is still buying hardware companies, too. In July, it agreed to acquire Acacia Communications Inc. for about $2.6 billion, gaining chips and machines that help translate optical signals into electronic data.(Updates with share price in the fourth paragraph.)To contact the reporter on this story: Ian King in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Alistair Barr, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Dow Jones Industrial Average is making little upside amid a slamming in Cisco System shares. A few China stocks have perked up lately, though.
Wall Street seesawed from red to black and back on Thursday as recessionary fears and simmering U.S.-China trade tensions offset upbeat retail sales data. "Consumer strength has a lot to do with the low unemployment rate and historically low interest rates," said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts.
Cisco (CSCO) stock fell 8% today after releasing its Q4 results after the market closed yesterday. Cisco reported sales of $13.4 billion, a rise of 6% YoY.
Modest gains faded for the stock market in afternoon trading Thursday. Walmart led the Dow Jones but weak earnings from Cisco weighed on tech.
Cisco shares slipped after the company reported weaker-than-expected guidance, despite earnings beat on top and bottom lines. Jared Blikre joins Akiko Fujita on 'The Ticker' to discuss.