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On March 16, according to US media reports, more than 1,300 employees of Voice of America were forced to take leave starting March 15. The day before, US President Trump ordered a reduction in the size of the US Agency for Global Media, which is responsible for allocating funds to Voice of America.March 16th news, Russian Foreign Minister Lavrov had a phone call with US Secretary of State Rubio on the 16th. Lavrov stressed that the use of force in the Red Sea must be stopped immediately.On March 16, in response to the sanitary napkin and diaper problems exposed by the 3.15 Gala, JD Supermarket issued a commitment on March 16 that its self-operated sanitary napkins and diapers are directly supplied by brands and strictly tested, and will never sell second-class, defective, destroyed, or sanitary napkins and diapers that do not meet national standards. In addition, JD Supermarket also promised that all JD self-operated products have been carefully selected and strictly screened, and are directly supplied by brands. JD strictly tests to ensure quality and safety. If users purchase second-class, defective, destroyed, or sanitary napkins and diapers that do not meet national standards from JD Supermarket self-operated products, they will be compensated 100 times.On March 16, Spain tested an autonomous minibus for the first time on city roads in real traffic conditions. With the approval of the Barcelona City Council and the Spanish General Directorate of Transport, a driverless minibus launched by Renault Group and WeRide was open to the public free of charge from March 11 to 14. Its trial operation route was two kilometers long. Barcelona Mayor Jaume Corboni and other government officials also came to test ride the bus.On March 16, local time on March 15, the Russian Ministry of Defense reported that the Russian army controlled the two settlements of Rubanshina and Zaoleshenka in the Kursk Oblast during the offensive operation, and attacked Ukrainian tanks, infantry fighting vehicles and other targets. The Russian Ministry of Defense also reported that the Russian engineering troops have begun mine clearance operations in the Kursk border area to restore normal life in the area as soon as possible.

Cisco Systems Rallies Nearly 5.0% on Strong Earnings in After-hours Trade; Dow Futures Barely Budge

Skylar Shaw

Aug 18, 2022 14:50

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Cisco exceeds expectations for top and bottom line earnings growth and offers a positive outlook

Following the release of better than anticipated top and bottom line earnings results for the fourth quarter of the 2021/2022 fiscal year (FY) and an optimistic outlook for earnings growth during the following fiscal year, Cisco System's share price increased during after-market trading hours on Wednesday. CSCO stock was recently trading just under $49.0, up about 5.0% from Wednesday's closing price of $46.66.


In the last quarter of its most recent fiscal year, Cisco posted adjusted non-GAAP profits per share (EPS) of $0.83, which was slightly higher than the $0.82 per share estimate provided by analysts. The technology company's Q4 revenue, however, came in at $13.1 billion, exceeding analyst consensus expectations of $12.73 billion.


We achieved a solid close to our fiscal year owing to our Q4 success, according to Cisco CEO Chuck Robbins. The company's greatest full-year non-GAAP profits per share ever were achieved thanks to "our teams' excellent execution in the middle of a very challenging environment," he said.


In the next fiscal year, Cisco forecasted revenue growth of between 4 and 6 percent and an EPS of $3.49 to $3.56 per share, up from the $3.36 per share recorded in the prior fiscal year. Cisco's forecast for revenue is therefore more upbeat than analysts' expectations, with the analysts' consensus calling for earnings growth of 2.2% in the coming fiscal year.


Dow Futures Ignore Gains in CSCO Shares Futures that track the price of the Dow Jones Industrial Average index, which includes Cisco at a percentage of about 1.0%, were unchanged in after-hours trading near the 34,000 level after falling 0.5% on Wednesday as investors processed data revealing robust core US retail sales growth in July and slightly dovish-leaning Fed minutes from its July meeting.


Despite a 5.0% after-hours gain, CSCO shares are still down nearly 23% for the year, but they are up about 18% from previous yearly lows of around $41 per share. With inflation having risen this year and major central banks like the Fed being compelled to rapidly hike interest rates, the company's share price has been caught up in a larger US equities market collapse.

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