‘We did not have a plan for a country to shut down’ – Cisco stock plunges 13% as China lockdown affects supply and outlook

Cisco Systems Inc. shares plunged in the extended session Wednesday after the tech bellwether’s revenue forecast came up more than $ 1 billion short of Wall Street expectations, which executives blamed on COVID shutdowns in China. Cisco CSCO, -4.43% shares dropped 13% after hours, following a 4.4% decline in the regular session to close at … Read more

‘We did not have a plan for a country to shut down’ – Cisco stock plunges 13% as China lockdown affects supply and outlook

Cisco Systems Inc. shares plunged in the extended session Wednesday after the tech bellwether’s revenue forecast came up more than $ 1 billion short of Wall Street expectations, which executives blamed on COVID shutdowns in China. Cisco CSCO, -4.43% shares dropped 13% after hours, following a 4.4% decline in the regular session to close at … Read more

Why this investor who paid $ 650,000 to lunch with Buffett isn’t buying or selling stocks right now

It’s 13-F season, and you’re not going to find many like Guy Spier’s Aquamarine Capital in the first quarter —- zero buys, zero sells. “Pathetic, isn’t it,” quips Spier in an interview. Spier says he feels less pressure to trade for trading sake after he stopped charging management fees. They also cite the possibly apocryphal … Read more

Why this investor who paid $ 650,000 to lunch with Buffett isn’t buying or selling stocks right now

It’s 13-F season, and you’re not going to find many like Guy Spier’s Aquamarine Capital in the first quarter —- zero buys, zero sells. “Pathetic, isn’t it,” quips Spier in an interview. Spier says he feels less pressure to trade for trading sake after he stopped charging management fees. They also cite the possibly apocryphal … Read more

Dow climbs third straight day as stocks end sharply higher after retail sales, Fed Chair Powell’s remarks

US stocks closed sharply higher Tuesday, after retail sales data for April suggested the economy remained healthy and as investors weighed remarks by Federal Reserve Chairman Jerome Powell. On Monday, the Dow finished less than 0.1% higher, the S&P 500 closed 0.4% lower and the Nasdaq fell 1.2%. The declines followed another losing week for … Read more

US COVID cases at highest levels since November, while Northeast and Midwest are above delta peak

COVID cases continued to rise across the US on Monday and were trending at the highest levels seen since late November around the time that South African scientists first identified the highly transmissible omicron variant which quickly became dominant around the world. Sine then, the BA.2 variant of omicron, and two other subvariants named BA.2.12 … Read more

US COVID cases at highest levels since November, while Northeast and Midwest are above delta peak

COVID cases continued to rise across the US on Monday and were trending at the highest levels seen since late November around the time that South African scientists first identified the highly transmissible omicron variant which quickly became dominant around the world. Sine then, the BA.2 variant of omicron, and two other subvariants named BA.2.12 … Read more

Morgan Stanley: ‘Hard landing’ odds jump as investors worry about economic growth

The probability of a “hard landing” for the US economy has jumped, with stock and bond investors worried about slowing economic growth, according to Morgan Stanley’s wealth-management division. “The stock- and bond-market downturn has advanced to behavior resembling a classic cyclical bear market rather than simply a correction,” said Lisa Shalett, chief investment officer at … Read more

Morgan Stanley: ‘Hard landing’ odds jump as investors worry about economic growth

The probability of a “hard landing” for the US economy has jumped, with stock and bond investors worried about slowing economic growth, according to Morgan Stanley’s wealth-management division. “The stock- and bond-market downturn has advanced to behavior resembling a classic cyclical bear market rather than simply a correction,” said Lisa Shalett, chief investment officer at … Read more

Dow struggles for direction as weak China data fuels pressure on stocks, more global recession worries

Dow industrials and the S&P 500 clawed back earlier losses on Monday afternoon, although the Nasdaq continued to trade lower following a batch of weak data from China that fueled more concerns about the state of the global economy. How are stocks trading? The Dow Jones Industrial Average DJIA rose 236 points, or 0.7%, to … Read more