Exam Code: 500-230 Practice exam 2023 by Killexams.com team
500-230 Cisco Service Provider Routing Field Engineer

Welcome to the Introduction to Cisco Sales training. This course provides an overview of Cisco's vision and the products and solutions available to sell. It also covers general concepts of Ciscos business outcome selling, the customer value proposition and stakeholder management. You will learn about Ciscos Enterprise and Digital Network Architecture (DNA) which includes, but is not limited to, Routing & Switching, Wireless & Mobility and Digitization. We will also discuss Ciscos Security architecture covering Ciscos approach to Security, the threat centric security model, network security, visibility, enforcement, management and more. This courses also covers Cisco Data Center and Cloud architectures including Ciscos Unified Data Center, Unified Fabric, Converged Infrastructures, Cloud and Multi-Cloud. You will also learn about Ciscos Collaboration solutions around its Architecture, platform, end points, Spark solutions, Conferencing and On-prem, Cloud and Hyrbid Cloud. The Introduction to Cisco Sales course is part of Cisco's Continuous Learning earning you valuable points towards your Specialization Certifications. Prepares you to take the 700-150 Cisco exam for Account Managers.
Cisco Service Provider Routing Field Engineer
Cisco Provider book
Killexams : Cisco Provider book - BingNews https://killexams.com/pass4sure/exam-detail/500-230 Search results Killexams : Cisco Provider book - BingNews https://killexams.com/pass4sure/exam-detail/500-230 https://killexams.com/exam_list/Cisco Killexams : Cisco streamlines hardware and software at the edge

Cisco is adding compute power and streamlining edge hardware and software offerings to make SD-WAN easier to deploy and manage.

Taken together enhancements are aimed at helping to better handle growing distributed enterprises but also to help simplify environments—the hardware by allowing users to collapse multiple devices into one, and the software to ease configuration and management of SD-WANs.

On the hardware side, Cisco is adding the 3U, Catalyst 8500-20X6C edge platform to its Catalyst 8000 Edge Platforms Family. It is an edge aggregation device built on the Cisco’s quantum-flow processor (QFP) ASIC and promises more than three times the performance over the existing high-end Catalyst 8500 Series Edge Platform, according to Archana Khetan, head of products in Cisco’s Enterprise Routing group. “With the increased power, customers can support more users and collapse the number of boxes they need to support edge applications as needed,” Khetan said.

The box features up to 6x 40/100GbE and 20 10/1GbE ports and is aimed at campus locations and at aggregation points to act as a central connection hub for distributed sites, Khetan said. It is available now.

The Catalyst 8000 Edge Platforms Family includes three models: the high-end 8500, the 8300 for branch users, and the software-based 8000V for virtual environments. The family can share a feature set that includes advanced routing, SD-WAN, secure-access service edge (SASE). All models run Cisco’s IOS XE operating system software.

Cisco also announced the E-Series M6 compute module for its Unified Computing System servers. The module, available in the first half of the year, promises twice the processing horsepower and 10 times greater I/O capacity compared to previous generations, according to Khetan.  “The M6 is ideal for customer environments where they want to collapse more of their edge compute into the platform and better handle process-intensive business applications and network services,” Khetan said.

Copyright © 2023 IDG Communications, Inc.

Thu, 16 Feb 2023 01:31:00 -0600 en text/html https://www.networkworld.com/article/3687642/cisco-streamlines-sd-wan-hardware-and-software-at-the-edge.html
Killexams : Burn, backlog, burn: Cisco inferno clears away supply chain hassles

Cisco has again increased revenue guidance thanks to an improving supply chain that's given the networking giant confidence it will sell more stuff in the second half of 2023.

Like many hardware companies, Cisco struggled to get the parts it needs to make product during the plague years of 2020 and 2021, resulting in long delays for customers and a bulge of backlogs on Cisco's books.

The nabob of networking today told investors who tuned in to its Q2 22/23 earnings call that they can expect a sales surge in the second half of calendar year 2023 thanks to supply chain matters easing.

"While components for a few product areas remain highly constrained, we did see an overall improvement," observed CEO Chuck Robbins.

"Combined with the aggressive actions our supply chain and engineering teams took to redesign hundreds of our products, we increased product deliveries and saw significant reductions in customer lead times," he added. "As our product deliveries increased, channel inventories also declined as our partners were able to complete customer projects."

Execs claimed lead times for products are trending towards the pre-pandemic normal, and Cisco's ability to deliver on orders from its backlog will contribute to "significant growth" in the second half of the financial year. The business forecast between 11 and 13 percent growth year on year for Q3, and full year growth of between 9 and 10.5 percent.

Which will make for nice numbers, since Cisco posted Q2 revenue of $13.6 billion on Wednesday – up seven percent year over year and its second highest ever quarterly revenue total. Net income was $2.8 billion. Recurring revenue now delivers 44 percent of the cash that arrives in Cisco's coffers.

Cisco's collaboration business – across WebEx services and hardware – dipped ten percent due to "declines in meetings and collaboration devices." Well, the plague couldn't last forever, right?

Enterprise and commercial buyers delivered a double-digit sequential rise. Cisco's UCS servers delivered what CFO Scott Herren called "nice growth" in revenue. "And at least based on our calculations, we feel like we're gaining share there as well," he added.

CEO Robbins also touched on service provider and web-scale sales, and revealed Cisco has "roughly 35 use cases or franchises within the largest players, and we've actually been designed into 18 of those at this point."

"And we are very confident that we'll continue to get designed in … we just got notice about a new design win today."

Robbins didn't name names of its colosso-customers, but rival networking vendor Arista did. On Monday it named Meta and Microsoft as huge contributors to full year revenue of $4.4 billion.

"We expect both of them to once again contribute greater than ten percent of our total revenue in 2023," said president and CEO Jayshree Ullal.

Full-year revenue handily topped guidance offered in 2021. Q4 revenue of $1.3 billion was an increase of 54.7 percent year on year. Full year net income was $1.35 billion, of which Q4 contributed $427 million.

The world's other significant standalone networking company, Juniper, reported 12 percent annual revenue growth in late January, when it wrapped up its financial year with news of $5.3 billion coming through the doors and net income of $471 million – up 86 percent year over year. ®

Wed, 15 Feb 2023 16:32:00 -0600 en text/html https://www.theregister.com/2023/02/16/cisco_q2_2022/
Killexams : Cisco Systems, Inc.: Tops expectations, raises FY23 guidance


Cisco is a worldwide leader in communications equipment. Originally created to provide routers and switches for Ethernet-based networks within enterprises, the company has expanded into collaboration, data center, service provider video, security, wireless, analytics and other hardware and software niches.

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Thu, 16 Feb 2023 06:23:00 -0600 en-US text/html https://finance.yahoo.com/research/reports/ARGUS_2870_AnalystReport_1676570100000/
Killexams : As Microsoft And Google Battle Over AI, Some Partners Are Already All-In On ChatGPT

Employees with VCPI, Sourcepass and Net Friends talked to CRN about ChatGPT and generative AI in the channel.

Made with OpenAI’s Dall-E image generating AI program.
Made with OpenAI’s Dall-E image generating AI program.

Some partners tell CRN that even as Microsoft, Google and other tech giants fight out an emerging battle over who has the most compelling artificial intelligence (AI) tools, they are adopting and testing these tools to help with internal processes and to potentially recommend to clients.

All three partners who talked to CRN are all-in on ChatGPT, a generative AI tool created by OpenAI, which has a multibillion-dollar investment from Microsoft and whose technology is being rolled out into multiple Microsoft offerings from Bing to Edge to Teams.

Stephen Eiting, a sales operations manager at VCPI – a Milwaukee-based managed service provider (MSP) whose partners include Microsoft, Citrix, Cisco and N-Able – told CRN in an interview that he’s used ChatGPT to write a project charter, change orders, user guides and even a program script for Microsoft’s PowerShell task automation and configuration management program.

“It saves me endless hours every single week,” Eiting said.

[RELATED: ChatGPT Is A Hacker’s Dream. Will Google’s Bard Do Better?]

CRN has reached out to OpenAI for comment.

For the project charter, Eiting fed ChatGPT stakeholders, project managers and information on the risks involved to get usable text.

“I learned from that experience that as you become more conversational with it, it really presents a really good result,” Eiting said. “And I wasn’t able to just take that. It wasn’t complete. But it did 70 percent of my work for the project charter (in), I don’t know, 45 seconds. Which is great.”

Eiting, who also maintains a personal blog about technology, has been impressed by its ability to generate post ideas and to write the actual entries.

“I asked it to go into a book about cyber warfare, and I got seven chapters deep,” he said. “And it just kept going with this quasi-nonfiction, fiction novel that I was reading. I was fascinated because it just kept going. How long could it go? I thought to myself, ‘Should I publish this on Amazon?’”

In theory, the tool can help smaller MSPs without accounts to popular customer relationship management (CRM) tools, he said. MSP workers could write a script for calculating acquisition costs with multiple variables and plug in customer or prospect information.

Nick Ross, vice president of product development at Sourcepass – New York-based MSP whose partners include Acronis, Dell, VMware, SentinelOne, Microsoft and Fortinet – told CRN that he uses ChatGPT to help translate concepts and ideas into writing.

He’s used ChatGPT to correct his grammar for posts on his MSP-focused blog, for creating templates for email and marketing campaigns and even for low-level programming.

“I’d love to have it a little bit more rolled out and baked in certain ways than it is, but, I mean, it’s a game changer,” he said. “It’s a technology that has the excitement of a blockchain or crypto, but actually has way more applicability to businesses and the things that we do to reshape the world.”

Programmers’ jobs are still protected by the need to explain what a user wants, the ability to read code and the ability to troubleshoot, he said.

“It’s not going to go out and build you a full front end and back end that you can maintain,” he said.

Still, Ross sees ChatGPT as a helpful tool for translating jargon from product managers and developers.

For small MSPs limited by employee count, in theory, ChatGPT can write a business plan, do the market research based on information at its disposal and use virtual agents for sales calls, he said.

“There‘s the limitless possibility to being able to scale out a business, at least in the forefront,” he said.

John Snyder, CEO of Net Friends – a Durham, N.C.-based MSP whose partners include Microsoft, Nextiva and Palo Alto Networks – told CRN in an interview that he’s already using the paid version of ChatGPT, which is faster than the free offering.

“I was eager to sign up for it,” Snyder said. “I’m never gonna miss that $20 a month because I use it so, so much.”

Mon, 13 Feb 2023 02:00:00 -0600 en text/html https://www.crn.com/news/cloud/as-microsoft-and-google-battle-over-ai-some-partners-are-already-all-in-on-chatgpt
Killexams : Connected Car Mobility Solutions Market Size, Share & Trends Analysis Forecast Report by 2028

The MarketWatch News Department was not involved in the creation of this content.

Feb 19, 2023 (The Expresswire) -- "Connected Car Mobility Solutions Market" Report covers specified competitive outlook consisting of the market proportion and company profiles of the Important thing individuals working within the international market. Key players Profiled in the Report are [Mitsubishi Motors Corporation, Robert Bosch GmbH, Nokia Networks, Baidu, Molex Incorporated, HUBER+SUHNER, STMicroelectronics, Google, Cisco System Inc, Siemens AG, Deutsche Telekom AG, Siemens, NXP Semiconductors N.V.] and others. Company profile consists of assign including Organization summary, Financial Summary, Business Strategy and Planning, SWOT analysis and current developments.

What is the projected market size and growth rate of the Connected Car Mobility Solutions Market?

Connected Car Mobility Solutions Market Size is projected to Reach Multimillion USD by 2029, In comparison to 2023, at unexpected CAGR during the forecast Period 2023-2029.

Browse Detailed TOC, Tables and Figures with Charts which is spread across 126 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

Client Focus

1. Does this report consider the impact of COVID-19 and the Russia-Ukraine war on the Connected Car Mobility Solutions market?

Yes. As the COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, and in Chapters, we elaborate at full length on the impact of the pandemic and the war on the Connected Car Mobility Solutions Industry

Final Report will add the analysis of the impact of Russia-Ukraine War and COVID-19 on this Connected Car Mobility Solutions Industry.


This research report is the result of an extensive primary and secondary research effort into the Connected Car Mobility Solutions market. It provides a thorough overview of the market's current and future objectives, along with a competitive analysis of the industry, broken down by application, type and regional trends. It also provides a dashboard overview of the past and present performance of leading companies. A variety of methodologies and analyses are used in the research to ensure accurate and comprehensive information about the Connected Car Mobility Solutions Market.

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Connected Car Mobility Solutions Market - Competitive and Segmentation Analysis:

2. How do you determine the list of the key players included in the report?

With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.

Which are the driving factors of the Connected Car Mobility Solutions market?

Rising Adoption of [Navigation, Telematics] among Businesses Drives Connected Car Mobility Solutions Market Growth

Based onProduct Types the Market is categorized into [Wi-Fi, Bluetooth, 4G/LTE, 5G]that held the largest Connected Car Mobility Solutions market share In 2022.

Short Description About Connected Car Mobility Solutions Market:

The Global Connected Car Mobility Solutions market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2029. In 2021, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Connected Car Mobility Solutions. The market in North America is expected to grow considerably during the forecast period. The high adoption of advanced technology and the presence of large players in this region are likely to create ample growth opportunities for the market.

Europe also play important roles in global market, with a magnificent growth in CAGR During the Forecast period 2022-2029.

Connected Car Mobility Solutions Market size is projected to reach Multimillion USD by 2029, In comparison to 2022, at unexpected CAGR during 2022-2029.

Despite the presence of intense competition, due to the global recovery trend is clear, investors are still optimistic about this area, and it will still be more new investments entering the field in the future.

This report focuses on the Connected Car Mobility Solutions in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

Technological innovation and advancement will further optimize the performance of the product, making it more widely used in downstream applications. Moreover, Consumer behavior analysis and market dynamics (drivers, restraints, opportunities) provides crucial information for knowing the Connected Car Mobility Solutions Industry market.

Get a demo Copy of the Connected Car Mobility Solutions Report 2023

3. What are your main data sources?

Both Primary and Secondary data sources are being used while compiling the report.

Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users.Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2017-2029) of the following regions are covered in Chapters

What are the key regions in the global Connected Car Mobility Solutions market?

● North America (United States, Canada and Mexico) ● Europe (Germany, UK, France, Italy, Russia and Turkey etc.) ● Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam) ● South America (Brazil, Argentina, Columbia etc.) ● Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

This Connected Car Mobility Solutions Market Research/Analysis Report Contains Answers to your following Questions

● What are the global trends in the Connected Car Mobility Solutions market? Would the market witness an increase or decline in the demand in the coming years? ● What is the estimated demand for different types of products in Connected Car Mobility Solutions? What are the upcoming industry applications and trends for Connected Car Mobility Solutions market? ● What Are Projections of Global Connected Car Mobility Solutions Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export? ● Where will the strategic developments take the industry in the mid to long-term? ● What are the factors contributing to the final price of Connected Car Mobility Solutions? What are the raw materials used for Connected Car Mobility Solutions manufacturing? ● How big is the opportunity for the Connected Car Mobility Solutions market? How will the increasing adoption of Connected Car Mobility Solutions for mining impact the growth rate of the overall market? ● How much is the global Connected Car Mobility Solutions market worth? What was the value of the market In 2020? ● Who are the major players operating in the Connected Car Mobility Solutions market? Which companies are the front runners? ● Which are the latest industry trends that can be implemented to generate additional revenue streams? ● What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Connected Car Mobility Solutions Industry?

Customization of the Report

4. Can I modify the scope of the report and customize it to suit my requirements?

Yes. Customized requirements of multi-dimensional, deep-level and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus to win them sufficient time and space for market competition.

Inquire more and share questions if any before the purchase on this report at -https://www.360researchreports.com/enquiry/pre-order-enquiry/20765229

Major Points from Table of Contents

Global Connected Car Mobility Solutions Market Research Report 2023-2028, by Manufacturers, Regions, Types and Applications

1 Introduction
1.1 Objective of the Study
1.2 Definition of the Market
1.3 Market Scope
1.3.1 Market Segment by Type, Application and Marketing Channel
1.3.2 Major Regions Covered (North America, Europe, Asia Pacific, Mid East and Africa)
1.4 Years Considered for the Study (2015-2028)
1.5 Currency Considered (U.S. Dollar)
1.6 Stakeholders

2 Key Findings of the Study

3 Market Dynamics
3.1 Driving Factors for this Market
3.2 Factors Challenging the Market
3.3 Opportunities of the Global Connected Car Mobility Solutions Market (Regions, Growing/Emerging Downstream Market Analysis)
3.4 Technological and Market Developments in the Connected Car Mobility Solutions Market
3.5 Industry News by Region
3.6 Regulatory Scenario by Region/Country
3.7 Market Investment Scenario Strategic Recommendations Analysis

4 Value Chain of the Connected Car Mobility Solutions Market

4.1 Value Chain Status
4.2 Upstream Raw Material Analysis
4.3 Midstream Major Company Analysis (by Manufacturing Base, by Product Type)
4.4 Distributors/Traders
4.5 Downstream Major Customer Analysis (by Region)

5 Global Connected Car Mobility Solutions Market-Segmentation by Type
6 Global Connected Car Mobility Solutions Market-Segmentation by Application

7 Global Connected Car Mobility Solutions Market-Segmentation by Marketing Channel
7.1 Traditional Marketing Channel (Offline)
7.2 Online Channel

8 Competitive Intelligence Company Profiles

9 Global Connected Car Mobility Solutions Market-Segmentation by Geography

9.1 North America
9.2 Europe
9.3 Asia-Pacific
9.4 Latin America

9.5 Middle East and Africa

10 Future Forecast of the Global Connected Car Mobility Solutions Market from 2023-2028

10.1 Future Forecast of the Global Connected Car Mobility Solutions Market from 2023-2028 Segment by Region
10.2 Global Connected Car Mobility Solutions Production and Growth Rate Forecast by Type (2023-2028)
10.3 Global Connected Car Mobility Solutions Consumption and Growth Rate Forecast by Application (2023-2028)

11 Appendix
11.1 Methodology
12.2 Research Data Source


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Sat, 18 Feb 2023 16:51:00 -0600 en-US text/html https://www.marketwatch.com/press-release/connected-car-mobility-solutions-market-size-share-trends-analysis-forecast-report-by-2028-2023-02-19
Killexams : The Week Ahead: US, UK inflation; Barclays, NatWest results

Rising prices are set to make headlines again this week as the US and the UK release their latest consumer price index (CPI) readings on Tuesday and Wednesday, respectively. Meanwhile, earnings season still has a little distance left to run, with Airbnb and Cisco posting quarterly results in the US, while UK banks Barclays and NatWest are due to report their full-year numbers.  


Monday 13 February

No major scheduled announcements

Tuesday 14 February

US CPI (January)

Since growth in US consumer prices peaked at 9.1% in the year to June, inflation has trended lower, easing to 6.5% in December. So-called core CPI, which excludes food and energy prices, has fallen from 6.6% in September to 5.7% in December. 

Nevertheless, US Federal Reserve chair Jay Powell told the Economic Club of Washington on Tuesday that the “disinflationary process” still had a “long way to go”. Powell also warned that the Fed may have to lift interest rates higher than investors expect because it could take a “significant period of time” to tame inflation, especially with a strong labour market. The US economy unexpectedly added 517,000 jobs in January, smashing economists’ forecasts of 185,000.

In its latest bid to tame inflation, on 1 February the Fed raised its benchmark interest rate by a quarter of a percentage point to a range of 4.5% to 4.75%. With markets pricing in another quarter-point rise at the next meeting in March, the CPI figures for January may help determine how many more rate rises could be on the way after that. 

Analysts expect headline CPI to have risen 0.4% month-on-month and 6.2% year-on-year in January. Core prices are expected to be up 0.5% month-on-month and 5.4% year-on-year.    

Airbnb Q4 results

Airbnb shares have risen 35% since the start of the year, rebounding from December’s record low. Last year’s share price decline was mainly due to investor concerns over slow growth in bookings despite the lifting of Covid restrictions. In Q2, bookings came in below expectations at 103.7m even though profits increased and revenue exceeded $2bn. In Q3, Airbnb enjoyed its best quarter ever as revenue grew to $2.83bn, up 29% on the year-ago period. 

The Q3 numbers were impressive across the board. Gross booking value per night was $156.44, while per-share earnings came in at $1.79, beating expectations. However, Airbnb issued weak guidance for Q4, warning that revenue could drop to between $1.8bn and $1.88bn. Seasonal factors usually contribute to fewer bookings in Q4 than in Q2 and Q3, but the forecast of such a sharp drop in revenue concerned investors. Profit in Q4 is expected to come in at $0.33 a share.   

Wednesday 15 February

UK CPI (January)

The Bank of England increased the base rate by half a percentage point to a 15-year high of 4% on 2 February, raising the question of whether interest rates may have peaked. Although the BoE signalled that further rate rises would only be required if inflationary pressures persist, that does not mean there will be no more rate hikes. 

In contrast to the US and Europe, where inflation has slowed markedly, UK consumer prices grew 10.5% in the year to December, down only slightly from the October peak of 11.1%. Additionally, core CPI was unchanged at 6.3% in December, while retail price inflation is running at an eye-watering 13.4%. All of this suggests that inflationary pressures could indeed persist in the UK, perhaps necessitating a further rate hike of at least 25 basis points when the BoE’s Monetary Policy Committee next meets on 23 March. 

Economists expect that CPI growth eased to 10.1% in the year to January. Why is UK inflation still so high? A sluggish economy and a weak pound aren’t helping. A weaker pound makes imports to the UK more expensive, often resulting in price rises for UK consumers, thus exacerbating inflationary pressures. With earnings growth – another driver of inflation – rising year-on-year from 6% in September to 6.4% in November, the Bank of England may need to stay the course in its fight against inflation for a little longer than it would like, unless CPI drops sharply below 10% in the coming months. 

US retail sales (January)

Given the strength of the US labour market, it is somewhat surprising that US retail sales fell on a monthly basis by 1% and 1.1% in November and December, respectively, suggesting that US consumers became more cautious amid economic uncertainty. US banks have continued to set aside funds to cover potential losses from non-performing loans, while company earnings reports have pointed to slowdowns in revenue and profit growth. 

It could be that consumers are building up a financial buffer as gasoline prices are on the rise again. January retail sales are expected to have increased 1.4% month-on-month, offsetting the decline in December when a cold snap limited consumer activity.

Barclays full-year results

The Barclays share price dropped to an 18-month low in October before rebounding to current levels, leaving the shares down 8% over the past year. The bank has faced various challenges during that period, including a jump in operating expenses and litigation charges. 

Barclays expects full-year operating expenses to be around £16.7bn, while the bank has also taken a charge of £540m related to its over-issuance of securities in the US. 

In Q3 total revenue came in at £5.9bn, up 9% versus the year-ago quarter. Although corporate and investment banking revenue declined 10% to £2.8bn, revenue from the consumer, card and payments division grew 54% to £1.24bn. The bank set aside £381m to cover potential losses from bad loans, pushing impairment provisions in the first nine months of the year to £722m. With Barclays’ UK credit card business thought to be vulnerable to a possible economic downturn, it will be interesting to discover how much more was set aside in Q4. 

Operating costs in Q3 rose 14% to £3.94bn, while profit after tax increased 9% to £1.7bn. That means profits for the first nine months of the year were down 19% versus the year-ago period. Profits in 2021 were boosted by the release of pandemic-era loan loss provisions back on to the balance sheet. 

Last year Cisco Systems issued a profits warning, citing supply chain disruptions and issues in China that were impacting its margins. Then, in November, Cisco upgraded its full-year guidance. 

At first, Cisco said it expected Q1 revenue growth of between 2% and 4%, and profits of $0.83 a share. But in November, the Q1 results came in better than expected, with reported profits of $0.86 a share on revenue of $13.6bn. 

For Q2, profits are expected to come in at $0.85 a share, while full-year profits could be upgraded to between $3.51 to $3.58 a share. Full-year revenue could be on track to grow 4.5% to 6.5%.

Thursday 16 February

Centrica full-year results

Centrica shareholders have had a hard time of it over the last 10 years. The shares fell from highs of more than 400p in 2013 to record lows of 29p in March 2020. It’s been a long road back from those lockdown-era lows, with the shares now hovering around the 100p level. 

In January the British Gas owner upgraded its full-year guidance for the second time in two months, saying that they expect adjusted earnings per share (EPS) of more than 30p and net cash in excess of £1bn. Half-year adjusted EPS came in at 10.2p. The company also announced a share-buyback programme in November, drawing criticism as consumers struggled with soaring energy costs. 

Centrica has reopened the Rough gas storage facility off the Yorkshire coast after the site was closed for upgrades in 2017. The company has also set aside £50m to help its customers through the cost-of-living crisis, although that effort is somewhat undermined by reports this month that debt collectors working on Centrica’s behalf have forcibly installed pre-payment meters in the homes of hard-up customers. 

Friday 17 February

UK retail sales (January)

UK retail sales fell 0.5% and 1% month-on-month in November and December, respectively. The December decline was surprising given that UK retailers announced better-than-expected trading numbers in the run-up to Christmas, raising hopes that consumer spending had rebounded despite the rail and postal strikes. 

Although sales volumes fell in December, the amount of money that consumers spent held up, suggesting that consumers became more discerning about their outgoings. Over the previous three months, sales volumes have decreased 5.7%, but the value of goods (excluding fuel) has increased 3.6%. 

Meanwhile, the consumer confidence indicator fell to a reading of -45 in January, down from -42 in December, as the British public dealt with rising prices and sky-high energy bills. On the plus side, travel and leisure spending could be on the up as people book summer holidays to counter the winter blues. In their latest trading updates, airlines recorded decent demand for seats and package deals.  

Shares of NatWest fell to a seven-month low in October after the bank’s Q3 results showed an unexpected increase in loan loss provisions, with some investors also responding to concerns that politicians could levy a windfall tax on banks’ profits. Since then, the shares have risen more than 40% to their highest levels since May 2018 as concerns over an economic slowdown have receded. 

In Q3 the bank posted an attributable profit of £187m, a sharp fall from the previous quarter’s £1bn profit that was mainly due to a one-off loss of £652m on the discontinued Ulster Bank operations and the reclassification of its mortgage book. NatWest became more aggressive on credit impairments in Q3, setting aside £247m during the quarter, up from £26m in the first half of the year. Operating expenses grew to almost £1.9bn, but remained lower than a year ago. Stripping all of this back, underlying performance was weaker than in Q2. Operating profit came in at £1.09bn, down from £1.4bn in Q2 and slightly short of analyst expectations. 

The higher interest rate environment lifted net interest margin in Q3 to 2.99%, bringing the average for the year to 2.73%, up from 2.59% at the end of the first half. Net loans increased to £192.8bn in Q3, up from £188.7bn in Q2, driven by new mortgage lending of £3.9bn. However, growth in mortgage lending is likely to have slowed in Q4. Customer deposits increased to £190.9bn, a rise of £400m versus Q2. Addressing expectations for the full year, NatWest said total income will be around £12.8bn, with net interest margin set to have averaged 2.8%. 

Last July, Deere & Co’s share price hit a 15-month low of $283.81 after the agricultural machinery maker cut its full-year profit guidance to between $7bn and $7.2bn, down from $7bn to $7.4bn, amid downward pressure on operating margins. 

This warning proved to be overly cautious, with the shares rebounding strongly as Q4 revenue came in at $15.54bn and profit grew to $7.44 a share, beating expectations of $7.10 a share. On an annual basis, revenue rose to $52.58bn, up 19%, and profit came in at $7.13bn as the company managed to pass on price increases to its clients. 

The company also raised its 2023 profit forecast to between $8bn and $8.5bn on the back of strong demand for tractors from farmers who are getting higher prices for their crops. Profit in Q1 is expected to come in at $5.50 a share.


Dividend payments from an index's constituent shares can affect your trading account. View this week's index dividend schedule.


Avis Budget Group (US) Q4
Denny's (US) Q4
Airbnb (US) Q4
Carr's Group (UK) Full-year
Endava (US) Q2
GoDaddy (US) Q4
TransUnion (US) Q4
TripAdvisor (US) Q4
Aurora Innovation (US) Q4
Barclays (UK) Full-year
Cisco Systems (US) Q2
Dunelm Group (UK) Half-year
Hargreaves Lansdown (UK) Half-year
Kraft Heinz (US) Q4
Krispy Kreme (US) Full-year
Pan African Resources (UK) Half-year
Roku (US) Q4
Sunoco (US) Q4
SunPower (US) Q4
Upwork (US) Q4
Centrica (UK) Full-year
DoorDash (US) Q4
Dropbox (US) Q4
Indivior (UK) Full-year
Kelly Services (US) Q4
MJ Gleeson (UK) Half-year
Paramount Global (US) Q4
RELX (UK) Full-year
Standard Chartered (UK) Full-year
WeWork (US) Q4
Barnes Group (US) Q4
Deere & Company (US) Q1
NatWest Group (UK) Full-year
Sergo (UK) Full-year

Note: While we check all dates carefully to ensure that they are correct at the time of writing, company announcements are subject to change.

Thu, 09 Feb 2023 23:38:00 -0600 en-au text/html https://www.cmcmarkets.com/en-au/news-and-analysis/the-week-ahead-us-uk-inflation-barclays-natwest-results
Killexams : Cisco beats earnings and revenue estimates, boosts full-year guidance
Cisco supply chain issues continue to ease

watch now

Cisco reported better-than-expected fiscal second-quarter results on Wednesday and lifted its forecast for the full year. Shares of the computer networking company initially jumped in extended trading before paring most of their gains.

Here's how the company did:

  • Earnings: 88 cents per share, adjusted, vs. 86 cents per share as expected by analysts, according to Refinitiv.
  • Revenue: $13.59 billion vs. $13.43 billion as expected by analysts, according to Refinitiv.

Cisco's total revenue grew 7% year over year in the quarter, which ended Jan. 28, according to a statement. Net income fell about 7% to $2.77 billion.

Some components that go in Cisco's hardware products remain constraints, but the company did see an improvement across the board, CEO Chuck Robbins said on a conference call with analysts.

"Based on the sequentials that we saw, demand remains stable," he said, although he added some sales cycles are longer than usual.

Cisco's public sector business performed more strongly than it has historically, while in the service provider category, some customers are adjusting to the better delivery of the company's products into their environments, Robbins said.

The company called for fiscal third-quarter adjusted earnings of 96 cents to 98 cents per share and 11% to 13% revenue growth. Analysts surveyed by Refinitiv had been looking for adjusted earnings per share of 89 cents and revenue of $13.58 billion, which implies almost 6% growth.

Cisco lifted its guidance for the 2023 fiscal year, and now expects $3.73 to $3.78 in adjusted earnings per share and 9% to 10.5% revenue growth. Both numbers are well ahead of analysts' estimates.

But Cisco said its backlog increased year over year. The backlog for both hardware and software is still considerably higher than usual for Cisco because of limited supply availability, said Scott Herren, Cisco's finance chief.

"We continue to have very low order cancellation rates, which remain below pre-pandemic levels," Herren said.

Logistics costs have come down somewhat, he said.

In the fiscal second quarter Cisco's largest business segment, Secure, Agile Networks, featuring networking switches for data centers, posted $6.75 billion in revenue. That was up 14% and more than the $6.52 billion consensus among analysts polled by StreetAccount.

The Internet for the Future unit, which includes routed optical networking hardware, contributed $1.31 billion, down 1% and just below the $1.32 billion StreetAccount consensus.

Revenue from Cisco's Collaboration division containing Webex fell by 10% to $958 million, falling short of StreetAccount's $1.06 billion consensus.

In the quarter, Cisco announced updates to its AppDynamics cloud software for application monitoring and disclosed a restructuring plan that includes changes to its real estate portfolio.

Notwithstanding the after-hours move, Cisco shares have inched about 2% higher, while the S&P 500 index is up 8% in the same time period.

WATCH: Earnings season is in full swing, and here's how to play 3 of the biggest names

Earnings season is in full swing, and here's how to play 3 of the biggest names

watch now

Wed, 15 Feb 2023 17:23:00 -0600 en text/html https://www.cnbc.com/2023/02/15/cisco-csco-earnings-q2-2023.html
Killexams : Cisco Stock Rallies on Earnings Beat and Strong Outlook. It’s a Good Sign for Tech.

Cisco Systems shares were trading sharply higher after the networking equipment provider posted solid results for its fiscal second quarter ended Jan. 28, while sharply increasing its outlook for the full year.

Cisco (ticker: CSCO) now expects fiscal 2023 to be its best growth year in at least a decade. The strong earnings report and surprising outlook should provide a boost to investor sentiment on the outlook for enterprise technology spending.

Wed, 15 Feb 2023 19:25:00 -0600 en-US text/html https://www.barrons.com/articles/cisco-earnings-stock-price-2123ee4
Killexams : S&P 500 closes 1% lower, Nasdaq sheds 1.7% on Wednesday amid corporate profit worries

Stocks close down

The three major indexes finished Wednesday's session down.

Leading the three indexes down was the Nasdaq Composite, which slid 1.7%. The S&P 500 followed, losing 1.1%

The Dow performed the best of the three, but still dipped 0.6%.

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Three indexes

Luxury shoppers pull back on goods spending, Barclays says

Goods spending from higher-end shoppers have fallen "sharply," while goods spending from discount shoppers remain resilient, according to Barclays.

"We show that high-end shoppers are pulling back on goods spending as implied by US Barclays credit card transactions data," read a Tuesday note. "This appears in year-on-year growth, but also in seasonally adjusted month-on-month growth."

Year over year total spending growth from luxury shoppers has dropped to negative territory since around October, according to the firm. Recently, those declines accelerated, with year over year growth falling 7%, as of Jan. 25.

In contrast, goods spending held up among discount shoppers over the last quarter, "with slightly negative y/y growth over the end of November and December, but a return to positive growth in the new year."

The firm identified luxury consumers as shoppers at higher-end retailers such as Williams-Sonoma, Neiman Marcus, Bloomingdale's and more. Meanwhile, discount shoppers make purchases at retailers such as Dollar General, Family Dollar and Ross Stores, among others.

To be sure, Barclays noted that many credit card users do not fall into either category, as they shop at retailers from both groups, or do not make purchases from either group at all.

— Sarah Min

Chipotle's long-term growth thesis remains 'intact' despite disappointing earnings

Analysts remain optimistic about the long-term trajectory for Chipotle Mexican Grill despite the burrito chain's top-and-bottom line miss.

Chipotle on Wednesday attributed the fourth-quarter miss to customers easing spending, and cited underperforming limited-time menu items along with tough comparison's to last year's brisket launch. Same-store sales growth also fell short, rising just 5.6%. That's below StreetAccount's 6.9% estimate and Chipotle's own October forecast. 

But while the fourth-quarter miss may weigh on shares near term, easing inflationary pressures and unit growth acceleration present a weakness in shares that investors should buy into, said Citi analyst Jon Tower.

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Chipotle shares fall on earnings, revenue miss

"Importantly, despite a challenging near-term macro, the long-term growth thesis is intact," wrote Barclays' Jeffrey Bernstein in a Wednesday note.

Bernstein added that he believes that long-term Chipotle can generate greater than 20% annual earnings per share growth, helped by accelerating unit growth, new product launches and a compelling value proposition.

Analysts also pointed to latest sales comps data as a sign that the company is off to a decent 2023, with data already showing a reacceleration in January.

Credit Suisse's Lauren Silberman reiterated her conviction in the company long-term trajectory, calling it a "rare compounding growth story" offering investors a solid risk-reward.

Shares fell 5% Wednesday but are still up about 18% in 2023.

— Samantha Subin

Stocks remain down entering final hour

The three major indexes remained in the red as investors entered the final hour of trading.

The Nasdaq Composite led the way, dropping 1.5%. The S&P 500 and Dow followed, sliding 0.9% and 0.5%, respectively.

— Alex Harring

Disney shares have more than a 25% upside, according to Daiwa

Walt Disney is punching above its weight in profitability, according Daiwa, and has an upside of 25.6% in 2023.

The company's improving streaming unit, Disney+, as well as an likely uptick in theme park visitors suggest outperformance in price-to-earnings, according to Daiwa analyst Jonathan Kees.

"We see DIS positioned for strong earnings growth and cash generation over the next couple fiscal years and beyond," Kees wrote in a client note on Wednesday.

The company will announce its quarterly earnings announcement after the bell on Wednesday.

— Hakyung Kim

Morgan Stanley upgrades American Express, cites higher-income customer base

Morgan Stanley upgraded American Express to overweight from an equal weight rating, noting its higher-income customer.

"AXP has a lower risk credit skew with higher FICO card members (5% subprime vs. peer median of ~20%), and we see credit losses hitting pre-COVID levels only by 2024 while all other card peers will overshoot on deterioration," wrote analyst Betsy Graseck.

Read more on the upgrade here.

— Samantha Subin

Fed Governor Waller on interest rate hikes: 'We have farther to go'

Fed Governor Christopher Waller on Wednesday talked tough on inflation, warning that the fight is not over and could result in higher interest rates than markets are anticipating.

Speaking to an agribusiness conference in Arkansas, Waller said the January jobs report, showing nonfarm payroll growth of 517,000, indicated that the employment market is "robust" and could fuel consumer spending that would maintain upward pressure on inflation.

Consequently, he said the Fed needs to maintain its current plan of action, which has seen eight interest rate hikes since March 2022.

"We are seeing that effort begin to pay off, but we have farther to go," Waller told the Arkansas State University Agribusiness Conference in prepared remarks. "And, it might be a long fight, with interest rates higher for longer than some are currently expecting. But I will not hesitate to do what is needed to get my job done."

The comments come a week after the rate-setting Federal Open Market Committee approved a quarter percentage point increase that took the benchmark borrowing rate to a target range of 4.5%-4.7%, the highest since October 2007.

— Jeff Cox

Health care is sole S&P 500 sector trading up

Health care is the only sector of 11 to buck the broader S&P 500's downturn.

Despite the broader index trading down around 0.7%, the sector gained a modest 0.1%.

Here's where the 10 in the red stand, in order from best to worst performance:

  • Financials (-0.1%)
  • Industrials (-0.2%)
  • Real estate (-0.3%)
  • Materials (-0.3%)
  • Energy (-0.6%)
  • Consumer staples (-0.6%)
  • Information technology (-0.6%)
  • Consumer discretionary (-0.8%)
  • Utilities (-1.8%)
  • Communication services (-3.8%)

The worst performer, communication services, was weighed down by slides of 20.6% in Lumen Technologies and 7.6% in Alphabet.

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S&P 500

Stocks making the biggest moves in midday trading

These stocks are among those making the biggest moves in midday trading:

  • Lumen Technologies — Shares fell 22.5% after the cloud network data company reported a fourth-quarter loss of about $3.1 billion. Its earnings guidance for the year also came in below StreetAccount estimates.
  • Alphabet — Shares of Google's parent company dropped 7.5% after the company held an event to show off its new artificial intelligence chatbot called Bard, one day after competitor Microsoft held an event to show off AI technologies in its competing search engine.
  • CVS Health — CVS Health gained 4.6% after the company surpassed profit and sales expectations in its latest quarterly results. The pharmacy operator reported earnings of $1.99 per share on revenue of $83.8 billion. Analysts polled by Refinitiv were forecasting earnings of $1.92 per share on revenue of $76.21 billion. Separately, CVS Health said it would acquire primary care company Oak Street Health in a transaction valued at $10.6 billion.
  • Fortinet — The cybersecurity company jumped 10.8% after it beat analysts' earnings expectations for the most latest quarter. Fortinet posted earnings of 44 cents per share, while analysts expected 39 cents per share, according to StreetAccount.

Click here to see more stocks making midday moves.

— Pia Singh

Evercore ISI takes Cisco to outperform rating

Evercore ISI upgraded Cisco Systems to an outperform rating, citing potential for greater sales and earnings-per-share growth in 2023 as supply chains normalize. 

"We would note CSCO is positioned to drive not just revenue strength but also translate that upside to the bottom-line driven by cost reduction and operating leverage," the firm wrote in a note to clients on Wednesday. The technology company has long been regarded as an economic bellwether considering the breadth of its customer base.

The firm said Cisco should benefit from the stabilizing networking demand with enterprise customers and service providers, given that the company leans towards enterprise customers. Evercore ISI analysts also expect Cisco's shares to gain from minimal backlog cancellations and easing supply chains, which would benefit product procurement and delivery.

Evercore ISI gave Cisco a $58 price target, suggesting shares could gain more than 21% from Monday's close. Shares are down 1.7% so far this month, but up more than 6% in the last 6 months. 

— Pia Singh

Barclays initiates coverage of Walmart with an overweight rating

Barclays initiated coverage of Walmart on Tuesday with an overweight rating, citing the retailer's defensive characteristics that will allow it to weather the short term, as well as several incremental growth drivers.

Those drivers include Walmart's initiatives around service, assortment and convenience, which have positioned the company to gain share and widen its consumer reach, analyst Seth Signman said in a note.

"In an environment where competition heats up as demand slows and cost pressures ease, WMT should be best positioned," he wrote.

Barclays' price target of $159 per share implies nearly 13% upside from Tuesday's close.

— Michelle Fox

Alphabet shares fall as Microsoft A.I. competition heats up

Alphabet shares tumbled more than 8% Wednesday, less than a day after new AI tools announced by Microsoft boosted Wall Street's confidence in search engine Bing's ability to take share from Google.

On Wednesday, Alphabet held its own event, geared toward its new artificial intelligence chatbot known as Bard.

The events from the competing technology giants come as the race to build the next big artificial intelligence innovation heats up in the wake of ChatGPT's showstopping launch.

While capturing share could take time to settle in, analysts are bullish that those gains will come long term.

Wells Fargo's analyst Michael Turrin saying in a Tuesday note that the AI-powered updates "will help drive share gains in search, browser & advertising and support AI-enabled innovation across MSFT's product portfolio."

In a note to clients Tuesday, JPMorgan's Mark Murphy said that Microsoft is beginning to "harvest years of prescient AI investments." This should position the company to take share, specifically within the advertising market.

"In summary, we continue to see Microsoft as the best house in a temporarily deteriorating neighborhood, while the fundamental trends of modernization and automation remain intact long-term," he wrote.

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Alphabet shares fall

Dow hits 200 points down

The Dow traded 200 points down as investors dissected the latest corporate earnings.

That equates to about 0.6% down. The S&P 500 and Nasdaq Composite, meanwhile, dropped 1.1% and 1.6%, respectively.

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Eight stocks in S&P 500 at fresh 52-week highs — four at all-time records

Eight stocks in the S&P 500 hit new 52-week highs on Wednesday, with four of them at all-time highs.

Here's the list of S&P 500 stocks at 52-week highs:

  • Omnicom Group (OMC), all-time high
  • Progressive (PGR), all-time high back to its 1971 IPO
  • Hologic (HOLX), all-time high back to its 1990 IPO
  • Eaton Corp (ETN), highest since January 2022
  • Ingersoll-Rand (IR), highest since January 2022
  • TransDigm Group (TDG), all-time high back to its 2006 IPO
  • CDW Corp (CDW), highest since January 2022
  • Fiserv (FISV), highest since September 2021

Other notable highs outside the S&P 500 on Wednesday included:

  • Interactive Brokers Group (IBKR), all-time high back to its 2007 IPO
  • Primerica (PRI), highest since November 2021
  • Encompass Health (EHC), highest since August 2021
  • Voya Financial (VOYA), highest since January 2022
  • Oak Street Health (OSH), highest since December 2021
  • Penumbra (PEN), highest since January 2022
  • HEICO (HEI), highest since November 2021
  • nVent Electric (NVT), all-time back to 2018 spinoff from Pentair
  • Lattice Semiconductor (LSCC), highest since November 2021
  • Madison Square Garden Sports (MSGS), highest since November 2021
  • Penske Automotive Group (PAG), all-time high back to its 1996 IPO
  • Apollo Global Management (APO), highest since January 2022

The following two stocks in the S&P 500 hit 52-week lows:

  • Lumen Technologies (LUMN), all-time low back to CenturyTel/Embarq merger that created CenturyLink in 2008
  • Jack Henry & Associates (JKHY), lowest since January 2022

— Scott Schnipper, Christopher Hayes

Look how Warren Buffett's Berkshire typically beats the market during recessions

Insurance stock ETF hits all-time high, led by Prudential

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— Scott Schnipper, Gina Francolla

Fed's Williams says looser financial conditions could imply higher interest rates

If financial conditions continue to loosen, the Federal Reserve could be forced to push interest rates higher than expected, New York Fed President John Williams said Wednesday.

By the Chicago Fed's measure, conditions are at their loosest since April 2022. That has come despite eight interest rate hikes from the central bank in its attempt to rein in inflation.

"If financial conditions ... loosened a lot or got much more supportive of growth, that would be a factor that would have to influence our thinking about the future path of the economy and what we need to do in terms of monetary policy in order to achieve our goal," Williams said during a Wall Street Journal roundtable.

Looser conditions "might might imply a higher interest rate to make sure that we're getting to the goals that we're trying to achieve," he added.

As things stand, he said projections in December of a fed funds rate in the 5%-5.5% range are probably accurate, implying increases of another 0.5 percentage point or so from the current level.

—Jeff Cox

Wholesale inventories for December up 0.1%

U.S. wholesale inventories for December rose by just 0.1% from the revised November level, the Commerce Department said Wednesday. That's the lowest month-over-month change since July 2020.

Total adjusted inventories of merchant wholesalers, except sales branches and offices, came in at $932.9 billion, up 17.6% from December 2021.

December's data also came in line with the consensus estimate of economists polled by Dow Jones.

— Michelle Fox

Stocks open lower

The three major indexes opened lower as trading kicked off.

The Dow was down 39 points, or 0.1%, after the first 15 minutes of trading. The S&P 500 and Nasdaq Composite were each down around 0.2%.

Wednesday's open follows a winning day for the three indexes on Tuesday.

— Alex Harring

Bank of America double upgrades Tripadvisor as consumers book experiences

Shares of Tripadvisor surged more than 6% Wednesday after Bank of America double-upgraded shares to a buy from an underperform rating.

The bank cited improving travel demand and a desire among consumers to book more experiences. Bank of America also upped its price target to a level that suggests shares could gain nearly 60% from Tuesday's close.

Read more on the call from Bank of America here.

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Tripadvisor shares surge on double upgrade from Bank of America

Stocks making the biggest premarket moves

Here are some of the stocks making the biggest moves before the bell.

  • Chipotle Mexican Grill — Shares of the fast casual restaurant chain fell more than 5% on the back of disappointing quarterly results. Chipotle said it saw customers pull back on their restaurant spending during the fourth quarter. "As we got around the holidays, we just didn't see that pop, that momentum, that we normally see," CFO Jack Hartung said on a conference call.
  • Enphase Energy — The solar company rose 8.5% after it posted fourth quarter adjusted earnings of $1.51 per share vs a $1.27 estimate, on revenue of $725 million against a $707 million estimate, according to StreetAccount.
  • Lumen Technologies  — The cloud network data company lost 17% premarket after reporting a fourth quarter loss of $3.1 billion (including a $3.3 billion goodwill writedown), and adjusted EPS of 43 cents vs 51c a year ago. This year's adjusted earnings guidance missed StreetAccount estimates.

Read more about the morning's biggest movers here.

— Hakyung Kim

Under Armour rises 6% following earnings beat, guidance lift

Under Armour shares rose 6% after the retailer beat Wall Street expectations for its holiday quarter and raised its guidance for the fiscal year.

The retailer posted adjusted earnings per share at 16 cents, above the 9 cents expected by analysts polled by Refinitiv. It also slightly beat the consensus analyst estimate on revenue, bringing in $1.58 billion compared with the $1.55 billion expected.

For the fiscal year, Under Armour raised where it expects it per-share earnings to come in to between 52 cents and 56 cents from between 44 cents and 48 cents.

Still, the retailer is among many struggling to move gluts of inventory as consumers shift spending to services and feel their pocketbooks pinched by inflationary pressures.

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Under Armour

— Alex Harring, Gabrielle Fonrouge

Mortgage refinance demand rises as interest rates fall

Mortgage rates continued to fall last week, and both current homeowners and potential homebuyers reacted swiftly.

Total mortgage application volume, including refinances and loans to purchase a home, jumped 7.4% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.18% from 6.19%, with points falling to 0.64 from 0.65 (including the origination fee) for loans with a 20% down payment. That rate was 3.83% the same week one year ago.

— Diana Olick

Uber jumps 7% on better-than-expected earnings

Uber advanced more than 7% before the bell after its fourth-quarter earnings came in above analyst expectations.

The rideshare company posted per-share earnings of 29 cents, outperforming an expected loss of 18 cents from analysts polled by Refinitiv. Uber also beat the $8.49 billion expectation for revenue, bringing in $8.6 billion in the quarter.

CEO Dara Khosrowshahi said in a prepared statement that the company had its "strongest quarter ever" to cap off its "strongest year."

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— Ashley Capoot, Alex Harring

Morgan Stanley upgrades American Express

Wells Fargo hikes Goldman Sachs price target

Wells Fargo analyst Mike Mayo hiked his price target on Goldman Sachs, noting the stock is undervalued relative to its peers.

"GS isn't getting credit for expected '23 and '24 returns that are below target and could have greater upside if targets are achieved," Mayo said, noting that a new analysis of return on tangible equity to price-to-tangible book positions Goldman Sachs as 19% undervalued relative to peers.

Goldman shares are up 9% for the year, slightly outperforming the S&P 500.

— Samantha Subin

Maersk, a global barometer for trade, posts record 2022 earnings but warns of a tough year ahead

Shipping company Maersk posted record annual earnings for 2022 but warned that profits are set to tumble this year as a "more balanced demand environment" emerges.

Picture Alliance | Picture Alliance | Getty Images

Maersk, one of the world's largest container shipping firms, on Wednesday reported a fall in fourth-quarter earnings but posted the best full-year result in its history.

The Danish giant, widely seen as a barometer for global trade, said its earnings before interest, taxes, depreciation and amortization (EBITDA) reached $6.5 billion in the fourth quarter, below a Refinitiv consensus analyst forecast of $6.77 billion and down from $8 billion for the same quarter of 2021.

This took the full-year underlying EBITDA figure to $36.84 billion, fractionally below the company's forward guidance of $37 billion but its strongest-ever full-year result.

Yet for 2023, Maersk expects underlying EBITDA to plummet to between $8 billion and $11 billion.

It said the guidance was based on the "expectation that inventory correction will be complete by the end of H1 leading to a more balanced demand environment, that 2023 global GDP growth remains muted, and that the global ocean container market will grow in a range of -2.5% to +0.5%."

Read the full story here.

— Elliot Smith

Biden, Republicans seem to agree on preserving Social Security, Medicare benefits

U.S. President Joe Biden delivers the State of the Union address to a joint session of Congress as Vice President Kamala Harris and House Speaker Kevin McCarthy (R-CA) listen on February 7, 2023 in the House Chamber of the U.S.

Pool | Getty Images News | Getty Images

Biden seemed to get Republicans to agree on not touching the Social Security and Medicare funds when they look to cut spending.

Republicans shouted back at the president when he said some House GOP members had proposed to reduce funding to the programs.

"Okay folks, as we all apparently agree, Social Security and Medicare is off the books now," Biden shouted back.

"If anyone tries to cut Social Security, which apparently no one's going to do, I'll stop it. I'll veto it," Biden said. "Apparently it's not going to be a problem."

Emma Kinery

Chipotle shares fall after earnings

Chipotle Mexican Grill shares fell more than 4% in extended trading after the restaurant chain missed quarterly earnings and revenue expectations.

Chief Financial Officer Jack Hartung said during the company's conference call that Chipotle "didn't see that pop, that momentum" that it typically gets around the holidays, ending the quarter "soft."

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Chipotle shares fall

— Amelia Lucas, Sarah Min

Ebay plans to lay off 500 employees; shares gain

Ebay plans to lay off 500 employees, which is about 4% of its workforce, according to a Tuesday filing with the SEC. The e-commerce stock rose slightly in extended trading, up 0.3%.

In a memo to employees, CEO Jamie Iannone said management took a "thoughtful look" at the company with regards to macroeconomic environment, saying the layoffs will boost eBay's ability to deliver better experiences for its customers.

— Ashley Capoot, Sarah Min

Stocks making the biggest moves after hours

Here are three names making headlines Tuesday after hours:

  • Chipotle Mexican Grill — Shares fell more than 4% in extended trading after Chipotle Mexican Grill missed analysts' expectations on the top and bottom lines. The burrito chain reported earnings of $8.29 per share on revenue of $2.18 billion. Analysts polled by Refinitiv were anticipating earnings of $8.90 per share on revenue of $2.23 billion.
  • Lumen Technologies — Shares plunged more than 16% after Lumen Technologies reported its latest results. The company offered 2023 guidance on adjusted earnings before interest, taxes, depreciation, and amortization that was lower than analysts' expected, according to FactSet/ The telecommunications company topped per-share earnings and sales expectations, according to consensus estimates from Refinitiv.
  • Fortinet — Shares surged more than 11% in extended trading after Fortinet surpassed earnings per share expectations, according to StreetAccount. The cybersecurity company posted 44 cents per share, greater than the expected 39 cents per share. However, the cybersecurity company slightly missed revenue estimates, posting $1.28 billion, lower than the predicted $1.3 billion.

Check out the full list here.

— Sarah Min

Former NEC chief economist says near-term economic downturn is likely

Joseph LaVorgna, the former chief economist of the National Economic Council, said he sees economic activity taking a further dip this spring before long-term rates eventually come down, as the Federal Reserve continues its interest rate-hike campaign. 

"The data suggests that a recession could literally start any quarter…A downturn this spring is very on track in my view," he said on CNBC's "Fast Money." 

LaVorgna added that the market is indicating the Fed is too tight, citing an "extraordinarily" inverted yield curve that entails short-term interest rates being higher than long-term rates. Treasury yields reversed earlier declines after Powell's remarks on Tuesday. The 10-year yield is now up to 3.679%, while the rate on the 2-year is 4.466%. If the curve inverts even more, LaVorgna said that would suggest the possibility of a "deeper and more prolonged" recession. 

"The Fed should be now focused on growth and should be focused on where it thinks the economy is going... they compounded one mistake by being asleep at the switch with now another mistake of thinking they're going to keep rates on hold for most of 2024," said LaVorgna, who is now the chief economist at SMBC Nikko Securities America, Inc.

— Pia Singh

State of the Union may not move future markets, some say

Markets observers said President Joe Biden's State of the Union scheduled for 9 p.m. EST likely won't move equities. But they still said geopolitical themes are important to follow as they could impact the market down the road.

"I don't really think that tonight's State of the Union address will really play much into the markets," said Sam Stovall, chief investment strategist at CFRA Research.

Stovall said Biden could address the debt ceiling, but that likely won't be an issue the market takes notice of until May.

Others said it could be important for how the next presidential election shapes up.

"State of the Union might not be market moving but it will be important as it will set expectations on how Biden's potential re-election campaign will go," said Ed Moya, senior market analyst at Oanda. "President Biden has the economy in much better shape than a year ago, but only 36% approved how he has handled it."

Follow along with CNBC's live coverage of Biden's address and the run-up to it here.

— Alex Harring

Stock futures open lower

U.S. stock futures fell slightly on Tuesday night.

Dow Jones Industrial Average futures fell by 58 points, or 0.17%. S&P 500 and Nasdaq 100 futures dipped 0.19% and 0.2%, respectively.

— Sarah Min

Wed, 08 Feb 2023 06:42:00 -0600 en text/html https://www.cnbc.com/2023/02/07/stock-market-futures-open-to-close-news.html
Killexams : Cisco IoT Operations Dashboard Updated, New Cisco Catalyst Gear Targeting Industrial IoT

Networking News

Gina Narcisi

‘This news is really around how we’re using the cloud operating model and cloud capabilities to allow our customers in the industrial IoT space to gain the same benefits from the same technology as we add to our industrial networking portfolio,’ Vikas Butaney, SVP and GM of Cisco industrial IoT networking, told CRN ahead of Cisco Live 2023 EMEA.


Cisco Systems is introducing new hardware and a simplified, cloud-based approach to IoT management as IT and operational technology (OT) become even more tightly connected, the company announced at Cisco Live 2023 EMEA on Tuesday.

Cisco has been enhancing its cloud-based IoT Operations Dashboard to help operations teams more efficiently remotely operate and manage industrial IoT environments. The company revealed two updates to the dashboard: integration with Cisco Cyber Vision and making Secure Equipment Access Plus available via the platform.

“This news is really around how we’re using the cloud operating model and cloud capabilities to allow our customers in the industrial IOT space to gain the same benefits from the same technology as we add to our Industrial networking portfolio,” said Vikas Butaney, senior vice president and general manager of SD-WAN, cloud connectivity and industrial IoT networking.

[Related: New Cisco Americas Channel Chief: ‘This Is Not Your Mother’s Go-To-Market Partnership’ ]

The Cisco Cyber Vision feature combines edge monitoring with some of Cisco’s security offerings to supply users — namely, IT and OT teams — full visibility into their industrial assets. The company said that Cyber Vision automatically builds a detailed asset inventory and identifies any vulnerabilities. It can also pull in risk scores from Cisco’s Kenna vulnerability management product to prioritize vulnerabilities for the appropriate team or MSP. It can also share a customers’ OT asset inventory with SecureX, Cisco’s XDR platform.

“Not only are we going to tell you about your network, but we can also tell you about the devices that are connected in one place [and] where you should spend your time and focus on securing,” Butaney said.

The addition of Secure Equipment Access Plus within Cisco’s IoT Operations Dashboard will supply partners and end user operations teams the ability to remotely deploy, maintain, and troubleshoot assets connected to Cisco industrial routers. This includes ruggedized equipment in roadside cabinets and controllers in hard-to-reach and deploy objects, such as wind turbines.

This will help customers increase their asset uptime and reduce the need for physical visits to the field for configuration changes or expensive truck rolls, Butaney said.

The updates to the IoT operations dashboard are especially important for partners who have been helping their customers with OT environments that haven’t historically been well-documented in terms of connected devices and endpoints. These partners have had to do their own time-consuming assessment services in the past for these customers. With the inclusion of Cyber Vision and Secure Equipment Access Plus, the Operations dashboard can supply partners a report on the customers’ network, assets and software versions, Butaney said.

“It gives our partners an ability now to go back out there and say: ‘Did you know this product is out of support or has a vulnerability?’ It gives partners a very easy way to engage and maybe create a managed service opportunity over time,” he said.

The Hardware Side Of Industrial Networking

Alongside the innovations for Cisco’s IoT Operations Dashboard, the networking vendor’s bread and butter networking portfolio is also getting a refresh with a new switch series, wireless client and access point for industrial IoT use cases that are joining the popular Cisco Catalyst portfolio.

For faster connectivity in smaller, or tight spaces, the new Cisco Catalyst IE3100 Rugged Series are small, DIN-rail mounted, gigabit ethernet switches that can connect to controllers in harsh industrial, outdoor, and small spaces. These switches run the IOS-XE operating software and are managed by Cisco DNA Center.

The Cisco Catalyst IE3100 Rugged Series serves as a replacement or upgrade from the Catalyst IE2000 Rugged Series, Butaney said.

The new Catalyst IW9165E Rugged Wireless Client can connect mobile industrial assets, such as autonomous robots or automated guided vehicles. The client lets users operate with standard Wi-Fi deployments or using Cisco’s Ultra-Reliable Wireless Backhaul (Cisco URWB) for low latency connectivity.

Lastly, the new Catalyst IW9165D Heavy Duty Access Point offers fiberless wireless backhaul with built-in antennas for easy deployment when fiber or cellular is not an option. External antennas can be added to support fixed and mobile use cases simultaneously, Cisco said.  

Gina Narcisi

Gina Narcisi is a senior editor covering the networking and telecom markets for CRN.com. Prior to joining CRN, she covered the networking, unified communications and cloud space for TechTarget. She can be reached at gnarcisi@thechannelcompany.com.

Tue, 07 Feb 2023 09:43:00 -0600 en text/html https://www.crn.com/news/networking/cisco-iot-operations-dashboard-updated-new-cisco-catalyst-gear-targeting-industrial-iot
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