AMD could see a 35% decline after massive run, trader warns

The shares fell more than 2% on Thursday after Wells Fargo analysts downgraded AMD from overweight to equal weight. Todd Gordon, managing director at Ascent Wealth Partners, said the stock had broken out from a yearslong consolidation. But, after breaking out, Gordon worries that it could have run too far, too fast and be setting up for a pullback to $38. He said he’s not only concerned the stock has “run too far, too fast” but is also fearful of competitors in the market. AMD will get the chanc


The shares fell more than 2% on Thursday after Wells Fargo analysts downgraded AMD from overweight to equal weight.
Todd Gordon, managing director at Ascent Wealth Partners, said the stock had broken out from a yearslong consolidation.
But, after breaking out, Gordon worries that it could have run too far, too fast and be setting up for a pullback to $38.
He said he’s not only concerned the stock has “run too far, too fast” but is also fearful of competitors in the market.
AMD will get the chanc
AMD could see a 35% decline after massive run, trader warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: keris lahiff, ivana freitas
Keywords: news, cnbc, companies, trader, decline, binger, trading, times, rally, run, amd, gordon, stock, wealth, pullback, warns, massive, market


AMD could see a 35% decline after massive run, trader warns

Advanced Micro Devices’ rally is powering off.

The shares fell more than 2% on Thursday after Wells Fargo analysts downgraded AMD from overweight to equal weight. The firm said the stock could use a “breather” after its nearly 140% rally within 12 months.

Todd Gordon, managing director at Ascent Wealth Partners, said the stock had broken out from a yearslong consolidation.

“It first started trading in 1972, IPO’d on the NYSE in 1979. But what we’ve seen after that massive run-up was a consolidation that began in 2000. We just recently broken out of there,” Gordon said Thursday on CNBC’s “Trading Nation.”

But, after breaking out, Gordon worries that it could have run too far, too fast and be setting up for a pullback to $38.

“You have to decide, are you willing to ride it down to that point?” Gordon said.

A decline to $38 implies nearly 35% downside from current levels. AMD has not traded at that level since December.

Michael Binger, president of Gradient Investments, agreed with Gordon that a pause could be warranted here. During the same “Trading Nation” interview, Binger expressed his fears on the stock despite its growth.

“It’s very rich right now, trades at about 50 times earnings this year, 40 times earnings next year. Now, you get a lot of growth for that but this is really a company that sells into the PC market mainly that doesn’t grow that much.” Binger said.

He said he’s not only concerned the stock has “run too far, too fast” but is also fearful of competitors in the market.

“Intel has a lot of clout still in this market and they can stay price cutting. They can bring better product to market, that’s what I worry about the most. … Would I buy it here today? No, I wouldn’t, and I’d wait for that pullback.” Binger said.

AMD will get the chance to showcase its next growth catalysts at its March 5 analyst day.

Disclosure: Ascent Wealth Partners owns AMD.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: keris lahiff, ivana freitas
Keywords: news, cnbc, companies, trader, decline, binger, trading, times, rally, run, amd, gordon, stock, wealth, pullback, warns, massive, market


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What a stock market correction is — and why traders are worried one is coming

Even as the U.S. stock market hovers near a record high, some people on Wall Street are warning that a market sell-off could be coming. It’s been more than a year since the U.S. stock market endured a correction, or decline of at least 10% from a prior high. Here’s what you need to know about a market correction and its effect on your portfolio. Once a market sell-off surpasses 20%, then it meets the criteria for a bear market . The U.S. stock market currently is in the midst of the longest-runn


Even as the U.S. stock market hovers near a record high, some people on Wall Street are warning that a market sell-off could be coming.
It’s been more than a year since the U.S. stock market endured a correction, or decline of at least 10% from a prior high.
Here’s what you need to know about a market correction and its effect on your portfolio.
Once a market sell-off surpasses 20%, then it meets the criteria for a bear market .
The U.S. stock market currently is in the midst of the longest-runn
What a stock market correction is — and why traders are worried one is coming Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-20  Authors: anna-louise jackson
Keywords: news, cnbc, companies, long, according, traders, coming, market, worried, stock, correction, markets, decline, thats, selloff


What a stock market correction is — and why traders are worried one is coming

Even as the U.S. stock market hovers near a record high, some people on Wall Street are warning that a market sell-off could be coming. It’s been more than a year since the U.S. stock market endured a correction, or decline of at least 10% from a prior high. And these types of market events typically happen a little more than once a year, on average, according to data going back to 1928 compiled by Yardeni Research. More than half of wealthy investors, for example, said in late 2019 that they expect a big market sell-off could happen this year, according to a UBS survey. Meanwhile, other people on Wall Street have pointed to similarities between the market today and in 2018 that could signal a possible correction ahead. Here’s what you need to know about a market correction and its effect on your portfolio.

What is a market correction?

Over the long run, the stock market trends higher. During shorter time periods, there can be wild fluctuations — but it’s important to put such moves in context. For a major benchmark like the S&P 500, it’s very normal to see daily swings in excess of 1%. In fact, that’s happened on about 27% of trading days in the last 20 years, according to FactSet data analyzed by Grow. When several declines of this magnitude happen in a string, or there’s an even more notable decline in a short period, that’s when you might start to see some of the following words thrown about to describe the movement of the markets. Here’s what they mean: Most experts define a correction as a market decline of at least 10% from a recent high, though people may also use it to refer to declines of smaller magnitudes (like 5%).

as a market decline of at least 10% from a recent high, though people may also use it to refer to declines of smaller magnitudes (like 5%). Once a market sell-off surpasses 20%, then it meets the criteria for a bear market .

. A market crash refers to a sudden and very sharp drop in stock prices. It may happen as part of a correction or bear market — and could reverse very quickly, depending on the reason for the crash.

Video by Courtney Stith

How long do corrections last?

There are two time periods to consider with a correction: The amount of time it took for the market to decline, and the amount of time it took the market to recover. Since World War II, the average correction for the S&P 500 has lasted four months, and it took another four months for the market to recover, according to analysis by CNBC and Goldman Sachs. And on average, this benchmark tumbled 13% before bottoming. In the past decade, investors endured only six corrections, and these declines have happened as quickly as a span of 13 days (in early 2018) to as long as 157 days (back in 2011), according to data compiled by Yardeni Research. And the subsequent recoveries have taken anywhere from 70 to about 200 days.

Bear markets are far less common, but they’re more severe in both how long they last and the extent of the losses. The average decline during the post-World War II bear markets has been 30% over a 13-month period, and it’s taken the market another 22 months to recover. By comparison, however, bull markets last years or even decades. The U.S. stock market currently is in the midst of the longest-running bull market in history, which began in 2009. And that’s why it’s important to remember that not only will the market bounce back from a sell-off, but will also continue its upward trajectory over the long run.

What happens during a market correction?

There’s always a trigger for a market decline, be it on a day-to-day basis or over more sustained periods, as happens during a correction. Because investors become cautious about the pace of economic growth and potential gains in stock prices ahead, they’re motivated to sell rather than to buy — and that sends the market lower. The most common reasons for a market correction include: Signs that the pace of economic growth is slowing

A shift in investors’ appetite to invest in risky assets (like stocks) versus those considered safer (like bonds)

Geopolitical events (like war or military attacks) that might spook investors

Fear During a correction, the value of your portfolio will drop, though it may be more or less than the broader market benchmarks. That’s because the makeup of your portfolio is likely different than the S&P 500, for example. So, even if the S&P 500 falls 10%, your portfolio may only go down 8%.

How to prepare for and survive a market correction


Company: cnbc, Activity: cnbc, Date: 2020-02-20  Authors: anna-louise jackson
Keywords: news, cnbc, companies, long, according, traders, coming, market, worried, stock, correction, markets, decline, thats, selloff


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US oil industry expected to cut spending by 10-15% and restructure, Dallas Fed says

The Dallas Federal Reserve, which has the Permian basin in its economic region, expects the oil and gas sector to cut capital spending by 10% to 15% in 2020. Rob Kaplan, president of the Fed district, said in an essay that the decline in oil production growth will have a substantial impact on the energy service companies. U.S. oil production is expected to grow by 700,000 barrels a day from fourth quarter 2019 to fourth quarter 2020. Kaplan also cited International Energy Agency forecasts that g


The Dallas Federal Reserve, which has the Permian basin in its economic region, expects the oil and gas sector to cut capital spending by 10% to 15% in 2020.
Rob Kaplan, president of the Fed district, said in an essay that the decline in oil production growth will have a substantial impact on the energy service companies.
U.S. oil production is expected to grow by 700,000 barrels a day from fourth quarter 2019 to fourth quarter 2020.
Kaplan also cited International Energy Agency forecasts that g
US oil industry expected to cut spending by 10-15% and restructure, Dallas Fed says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-18  Authors: patti domm
Keywords: news, cnbc, companies, prices, fed, spending, industry, quarter, production, decline, 2020, growth, income, restructure, cut, oil, demand, dallas, 1015, expected, energy


US oil industry expected to cut spending by 10-15% and restructure, Dallas Fed says

The Dallas Federal Reserve, which has the Permian basin in its economic region, expects the oil and gas sector to cut capital spending by 10% to 15% in 2020.

Rob Kaplan, president of the Fed district, said in an essay that the decline in oil production growth will have a substantial impact on the energy service companies. Some have already announced restructurings and layoffs, but he expects to see more of that, and 2020 will be a year of consolidation and cost cutting as well.

U.S. oil production is expected to grow by 700,000 barrels a day from fourth quarter 2019 to fourth quarter 2020. The forecast assumes a decline of 700,000 barrels a day in non-OPEC production and a drop of the same level by OPEC.

Kaplan also cited International Energy Agency forecasts that global oil demand will grow by 1 million barrels per day in 2020 to 102.2 million bpd. He points out that the coronavirus could chill demand, presenting a meaningful risk to demand growth since China accounts for about 14% of total global consumption and about 57% of consumption growth in 2019.

The IEA forecasts the virus impact could reduce demand by about 400,000 in the first quarter, the first decline since the Great Recession, Kaplan noted. The decline should reverse in following quarters in 2020, he said.

“In the U.S. more broadly, lower oil prices should benefit U.S. consumers by freeing up more of their disposable income for the consumption of non-oil goods and services,” he wrote. But he added that since the U.S. is no longer a net importer of oil and refined products, the benefit of lower prices to U.S. GDP may be increasingly offset by the hit to energy producers.

“Changes in oil prices will increasingly redistribute income between sectors and states within the U.S., as opposed to impacting the transfer of income between the U.S. and other oil-exporting nations,” he wrote.


Company: cnbc, Activity: cnbc, Date: 2020-02-18  Authors: patti domm
Keywords: news, cnbc, companies, prices, fed, spending, industry, quarter, production, decline, 2020, growth, income, restructure, cut, oil, demand, dallas, 1015, expected, energy


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Asia stocks set to decline; investors await China’s tariff cuts on some US products

Stocks in Asia were set to trade lower at the open on Friday as concerns around the ongoing coronavirus outbreak continue to weigh on investor sentiment. Futures pointed to a lower open for Japanese stocks. Meanwhile, stocks in Australia were little changed in early trade, with the S&P/ASX 200 hovering around the flatline. China is set to halve tariff rates on certain U.S. products worth about $75 billion with effect later on Friday, as previously announced by Beijing in early February. Investor


Stocks in Asia were set to trade lower at the open on Friday as concerns around the ongoing coronavirus outbreak continue to weigh on investor sentiment.
Futures pointed to a lower open for Japanese stocks.
Meanwhile, stocks in Australia were little changed in early trade, with the S&P/ASX 200 hovering around the flatline.
China is set to halve tariff rates on certain U.S. products worth about $75 billion with effect later on Friday, as previously announced by Beijing in early February.
Investor
Asia stocks set to decline; investors await China’s tariff cuts on some US products Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: eustance huang
Keywords: news, cnbc, companies, await, lower, set, investors, products, chinas, outbreak, trade, cuts, tariff, asia, stocks, nikkei, decline, early, effect, open, coronavirus


Asia stocks set to decline; investors await China's tariff cuts on some US products

Stocks in Asia were set to trade lower at the open on Friday as concerns around the ongoing coronavirus outbreak continue to weigh on investor sentiment.

Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 23,720 while its counterpart in Osaka was at 23,730. That compared against the Nikkei 225’s last close at 23,827.73.

Meanwhile, stocks in Australia were little changed in early trade, with the S&P/ASX 200 hovering around the flatline.

China is set to halve tariff rates on certain U.S. products worth about $75 billion with effect later on Friday, as previously announced by Beijing in early February.

Retaliatory tariffs on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from China’s Ministry of Finance earlier this month. The adjustments will take effect from 1:01 p.m on Feb. 14, it said, without specifying which time zone it was referring to.

Investors will also continue to watch for developments on the coronavirus outbreak following Thursday’s spike in the number of cases reported after authorities in Hubei changed the way cases are diagnosed.

On the corporate earnings front, Japan’s Toshiba and Singapore’s Singapore Airlines are expected to announce their quarterly results on Friday.


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: eustance huang
Keywords: news, cnbc, companies, await, lower, set, investors, products, chinas, outbreak, trade, cuts, tariff, asia, stocks, nikkei, decline, early, effect, open, coronavirus


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The decline of trading on Wall Street, explained

Wall Street used to be full of traders. Buying and selling stocks or bonds used to happen on the phone, in person or in the packed trading pits in Chicago, New York and London. Now, they’re losing money on trading operations and laying off scores of traders. The shift to electronic trading and passive investing are big culprits behind the trend, squeezing profits in the trading business to razor-thin margins. Watch the video above to learn more about what’s behind the decline of Wall Street’s lu


Wall Street used to be full of traders.
Buying and selling stocks or bonds used to happen on the phone, in person or in the packed trading pits in Chicago, New York and London.
Now, they’re losing money on trading operations and laying off scores of traders.
The shift to electronic trading and passive investing are big culprits behind the trend, squeezing profits in the trading business to razor-thin margins.
Watch the video above to learn more about what’s behind the decline of Wall Street’s lu
The decline of trading on Wall Street, explained Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: natalie zhang
Keywords: news, cnbc, companies, street, big, video, trend, explained, tradersdeutsche, york, trading, used, decline, tradingdesk, whats, wall


The decline of trading on Wall Street, explained

Wall Street used to be full of traders.

Buying and selling stocks or bonds used to happen on the phone, in person or in the packed trading pits in Chicago, New York and London. Prestigious investment banks boasted of trading desks the size of football fields. Now, they’re losing money on trading operations and laying off scores of traders.

Deutsche Bank, Citigroup and Societe Generale are just a few of the big financial firms to announce trading-desk layoffs in recent months.

The shift to electronic trading and passive investing are big culprits behind the trend, squeezing profits in the trading business to razor-thin margins.

Watch the video above to learn more about what’s behind the decline of Wall Street’s lucrative trading profession.


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: natalie zhang
Keywords: news, cnbc, companies, street, big, video, trend, explained, tradersdeutsche, york, trading, used, decline, tradingdesk, whats, wall


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Global oil demand set to see first quarterly decline in over 10 years, IEA says

Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA), as the new coronavirus and widespread shutdown of China’s economy hits demand for crude. The negative impact on oil demand hit oil prices hard as the virus took hold in January with a barrel of Brent crude falling by around $10 to fetch below $55 a barrel. The consequences of the new coronavirus, known now as “Covid-19,” will be “significant” for global o


Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA), as the new coronavirus and widespread shutdown of China’s economy hits demand for crude.
The negative impact on oil demand hit oil prices hard as the virus took hold in January with a barrel of Brent crude falling by around $10 to fetch below $55 a barrel.
The consequences of the new coronavirus, known now as “Covid-19,” will be “significant” for global o
Global oil demand set to see first quarterly decline in over 10 years, IEA says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: holly ellyatt
Keywords: news, cnbc, companies, coronavirus, producers, growth, world, expected, decline, oil, iea, global, opec, demand, quarterly, market, set


Global oil demand set to see first quarterly decline in over 10 years, IEA says

Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA), as the new coronavirus and widespread shutdown of China’s economy hits demand for crude.

Demand is now expected to fall by 435,000 barrels a day (b/d) in the first quarter of 2020, down from the same period a year ago, and marking the first quarterly contraction in more than 10 years, the IEA said in its monthly oil market report Thursday.

The expected decline in demand prompted the agency to cut its 2020 growth forecast by 365,000 b/d to 825,000 barrels a day, the lowest since 2011. Lower-than-expected consumption in the OECD countries trimmed 2019 growth to 885,000 b/d, it also said.

The forecast downgrade comes as the coronavirus, which has infected over 59,000 worldwide and killed over 1,300 people, continues to weigh on global market sentiment and China’s economic activity with factories and businesses closing and travel restricted both to and from China and within the country.

The outbreak has also affected business elsewhere with economic forums and business conferences cancelled, the latest being the Mobile World Congress that was set to take place in Barcelona this month.

The World Health Organization has said the outbreak “holds a very great threat for the world” and the International Monetary Fund’s Managing Director Kristalina Georgieva told CNBC Wednesday the new strain of coronavirus was “clearly more impactful” on the world economy than the 2002-2003 SARS epidemic.

The negative impact on oil demand hit oil prices hard as the virus took hold in January with a barrel of Brent crude falling by around $10 to fetch below $55 a barrel.

But prices have risen this week on expectations that major producers OPEC and non-OPEC producers, led by Russia, could cut global oil output further to counteract the slump in demand (a slump that had already been around before the coronavirus due to the trade war between the U.S. and China).

On Thursday, benchmark Brent crude was trading at $55.73 per barrel, while U.S. West Texas Intermediate (WTI) was trading at $51.21 per barrel.

The consequences of the new coronavirus, known now as “Covid-19,” will be “significant” for global oil demand, oil prices and producers, the IEA said Thursday.

“From the point of view of the producers, before the Covid-19 crisis the market was expected to move towards balance in the second half of 2020 due to a combination of the production cuts implemented at the start of the year, stronger demand and a tailing off of non-OPEC supply growth. Now, the risk posed by the Covid-19 crisis has prompted the OPEC+ countries to consider an additional cut to oil production,” it said.

Last week, the technical committee of the 14-member producer group OPEC, led by Saudi Arabia, and its non-member allies led by Russia (an alliance known as OPEC+) recommended an output cut of 600,000 barrels per day, in addition to its current 1.7 million bpd reduction. Crucially, however, Russia has not yet signaled if it will support a deeper cut.

In its own monthly oil market outlook on Wednesday, OPEC also dramatically lowered its forecast for oil demand growth this year, citing the coronavirus outbreak as the “major factor” behind its decision. It revised its outlook for global oil demand growth downwards to 0.99 million barrels per day (bpd) in 2020, down by 0.23 million bpd from the previous month’s estimate.


Company: cnbc, Activity: cnbc, Date: 2020-02-13  Authors: holly ellyatt
Keywords: news, cnbc, companies, coronavirus, producers, growth, world, expected, decline, oil, iea, global, opec, demand, quarterly, market, set


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Cramer sees Bed Bath & Beyond’s steep 25% stock decline as a buying opportunity

CNBC’s Jim Cramer on Wednesday blasted Bed Bath & Beyond’s decision to announce disappointing same-store sales figures well ahead of its fourth-quarter earnings release. However, Cramer said investors could use the subsequent stock plunge as a buying opportunity. Bed Bath & Beyond shares sank about 25% on Wednesday after the home goods retailer said after the bell Tuesday that December and January same-store sales dropped 5.4%. Why revise guidance if you didn’t have guidance?” Bed Bath & Beyond


CNBC’s Jim Cramer on Wednesday blasted Bed Bath & Beyond’s decision to announce disappointing same-store sales figures well ahead of its fourth-quarter earnings release.
However, Cramer said investors could use the subsequent stock plunge as a buying opportunity.
Bed Bath & Beyond shares sank about 25% on Wednesday after the home goods retailer said after the bell Tuesday that December and January same-store sales dropped 5.4%.
Why revise guidance if you didn’t have guidance?”
Bed Bath & Beyond
Cramer sees Bed Bath & Beyond’s steep 25% stock decline as a buying opportunity Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, fourthquarter, cramer, figures, decline, guidance, sales, steep, buying, opportunity, bed, samestore, beyonds, bath, didnt, trading, sees, stock


Cramer sees Bed Bath & Beyond's steep 25% stock decline as a buying opportunity

CNBC’s Jim Cramer on Wednesday blasted Bed Bath & Beyond’s decision to announce disappointing same-store sales figures well ahead of its fourth-quarter earnings release.

However, Cramer said investors could use the subsequent stock plunge as a buying opportunity. “I would buy it,” he added.

Bed Bath & Beyond shares sank about 25% on Wednesday after the home goods retailer said after the bell Tuesday that December and January same-store sales dropped 5.4%.

Wall Street had been expecting a decline of 3.97% for the fiscal fourth quarter.

“I don’t even know why the hell they did that. They didn’t have guidance. Why revise guidance if you didn’t have guidance?” Cramer said on “Squawk Box,” referencing the company’s decision in January to withdraw its full-year outlook.

Bed Bath & Beyond hit a 52-week low of $7.31 on Aug. 15. It reached its highest level in the past 12 months on April 4, trading at $19.57.

The stock was trading around $11 on Wednesday.

Bed Bath & Beyond said in a statement it decided to announce the sales figures “to provide visibility into the current pressures on the business.” The company will report full fourth-quarter numbers on April 15.


Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, fourthquarter, cramer, figures, decline, guidance, sales, steep, buying, opportunity, bed, samestore, beyonds, bath, didnt, trading, sees, stock


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Cisco shares drop after earnings report as revenue continues to decline

Here are the key numbers:Earnings: 77 cents per share, excluding certain items, vs. 76 cents per share as expected by analysts, according to Refinitiv. 77 cents per share, excluding certain items, vs. 76 cents per share as expected by analysts, according to Refinitiv. Revenue: $12.01 billion, vs. $11.98 billion as expected by analysts, according to Refinitiv. The company said it expects 79 cents to 81 cents in earnings per share, excluding certain items, and an annualized revenue decline of 1.5%


Here are the key numbers:Earnings: 77 cents per share, excluding certain items, vs. 76 cents per share as expected by analysts, according to Refinitiv.
77 cents per share, excluding certain items, vs. 76 cents per share as expected by analysts, according to Refinitiv.
Revenue: $12.01 billion, vs. $11.98 billion as expected by analysts, according to Refinitiv.
The company said it expects 79 cents to 81 cents in earnings per share, excluding certain items, and an annualized revenue decline of 1.5%
Cisco shares drop after earnings report as revenue continues to decline Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: salvador rodriguez
Keywords: news, cnbc, companies, items, shares, continues, expected, excluding, share, decline, billion, drop, analysts, cents, report, robbins, earnings, revenue, cisco


Cisco shares drop after earnings report as revenue continues to decline

Cisco reported fiscal second-quarter results that beat analysts’ estimates on Wednesday, but investors were not impressed with the company’s continuing revenue declines, and the stock is now trading down around 4% after hours.

Here are the key numbers:

Earnings: 77 cents per share, excluding certain items, vs. 76 cents per share as expected by analysts, according to Refinitiv.

77 cents per share, excluding certain items, vs. 76 cents per share as expected by analysts, according to Refinitiv. Revenue: $12.01 billion, vs. $11.98 billion as expected by analysts, according to Refinitiv. That’s down 4% from last year.

Cisco remains the dominant player in the data center switch market, but the company has for years been mired in slow growth because the bulk of new spending in IT is going to the large cloud vendors rather than the legacy hardware manufacturers.

The company said it expects 79 cents to 81 cents in earnings per share, excluding certain items, and an annualized revenue decline of 1.5% to 3.5% in the fiscal third quarter. The EPS estimates were ahead of expectations, but the company noted on its call that the forecast did not take into account any disruptions to the supply chain that might arise from the coronavirus crisis in China.

Revenue for Cisco’s two largest business segments, Infrastructure Platforms and Applications, were both down 8% year over year, coming in at $6.5 billion and $1.3 billion, respectively.

Cisco’s stock has gained just 5% in the past year, trailing the nearly 22% gain for the S&P 500 and even further behind the performance of Amazon, Microsoft and Alphabet.

CEO Chuck Robbins told CNBC in November that large customers are pausing spending plans because of global economic uncertainties related to Brexit and the U.S.-China trade deal. In Davos last month, at the World Economic Forum, Robbins said in an interview that while the domestic economy is strong, “we’ve also seen other indicators that outside the U.S. it’s a little more sluggish.”

WATCH: CNBC’S interview with Cisco CEO Chuck Robbins


Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: salvador rodriguez
Keywords: news, cnbc, companies, items, shares, continues, expected, excluding, share, decline, billion, drop, analysts, cents, report, robbins, earnings, revenue, cisco


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Spirits industry points to the decline of US whiskey exports to lobby against tariffs

As distillers await the latest round of tariffs, the spirits industry is looking to the example of plunging U.S. whiskey exports to argue for free trade. The European Union’s retaliatory tariffs levied on American whiskey caused E.U. American whiskey accounts for 65% of all U.S. spirits exports, according to the industry trade group. Exporting less American whiskey hurts the drink’s ability to compete with the reputation of its Scotch counterpart, which is usually considered superior. The group


As distillers await the latest round of tariffs, the spirits industry is looking to the example of plunging U.S. whiskey exports to argue for free trade.
The European Union’s retaliatory tariffs levied on American whiskey caused E.U.
American whiskey accounts for 65% of all U.S. spirits exports, according to the industry trade group.
Exporting less American whiskey hurts the drink’s ability to compete with the reputation of its Scotch counterpart, which is usually considered superior.
The group
Spirits industry points to the decline of US whiskey exports to lobby against tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: amelia lucas
Keywords: news, cnbc, companies, scotch, whiskey, industry, trade, points, exports, market, spirits, lobby, tariffs, decline, sales, american


Spirits industry points to the decline of US whiskey exports to lobby against tariffs

An employee at the Bardstown Bourbon Company seals a barrel after it was filled with bourbon in Bardstown, Kentucky on April 11, 2019.

As distillers await the latest round of tariffs, the spirits industry is looking to the example of plunging U.S. whiskey exports to argue for free trade.

The European Union’s retaliatory tariffs levied on American whiskey caused E.U. imports of the drink to plunge 27% to $514 million in 2019, the Distilled Spirits Council said Wednesday.

The industry group has been lobbying for an end to the tariffs since the 25% tax was enacted in mid-2018 in retaliation for U.S. tariffs levied on imported steel and aluminum.

Another trade dispute with the E.U., related to the long-running disagreement over subsidies for Airbus and Boeing, has led the White House to weigh imposing 100% tariffs on cordials, liqueurs and single-malt Scotch, among other European imports.

“Impact on single-malt Scotch or cordials or liqueurs impacts major U.S. investment here,” said Chris Swonger, president and CEO of DISCUS.

The deadline for public comment on the latest round of tariffs is Thursday, meaning that the Office of the United States Trade Representative could announce a decision this week.

American whiskey accounts for 65% of all U.S. spirits exports, according to the industry trade group. And the European Union is its top market. DISCUS is using the decline of the U.S. whiskey export market to lobby the White House.

“On the U.S. side, a 27% decline in value is certainly something that resonates,” Swonger said.

The United Kingdom, which was the top market for U.S. whiskey in 2018, imported $101 million of U.S. whiskey last year, cutting its imports by nearly a third from the previous year.

Craft distiller Tom Potter, president of the New York Distilling Company, said that the damage is not only monetary. Exporting less American whiskey hurts the drink’s ability to compete with the reputation of its Scotch counterpart, which is usually considered superior.

“We were finding really sophisticated buyers, in world capitals, beginning to think about American bourbon and American rye the same way that they thought about Scotch whiskey,” Potter said. “And at this point, we’re now frozen. To some extent, if you’re not in the market, you’re going to be forgotten.”

Potter’s distillery was projecting that exports would account for a quarter of its sales in 2018. But that changed in mid-2018, when the introduction of tariffs froze all of its foreign sales. Potter estimated that exports now make up only about 7% of the company’s sales and expects that they will continue to decline.

DISCUS has accepted some funding from the U.S. Department of Agriculture’s program to mitigate the retaliatory tariffs. The group is using the money to promote the U.S. spirits exports, particularly in countries without tariffs on American imports.

Swonger said that the council has seen some positive signs in recent weeks. He pointed to President Donald Trump’s meeting with E.U. officals at the World Economic Forum in Davos, Switzerland as one cause for optimism.

The U.S. spirits industry will see some relief on Friday, when tariffs on U.S. rum and vodka exports to China will be reduced to 35% as part of phase one of the trade deal with the Asian country.

Despite trade tensions, overall volumes of spirits in the U.S. rose 3.3% in 2019.


Company: cnbc, Activity: cnbc, Date: 2020-02-12  Authors: amelia lucas
Keywords: news, cnbc, companies, scotch, whiskey, industry, trade, points, exports, market, spirits, lobby, tariffs, decline, sales, american


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Facebook and Twitter decline Pelosi request to delete Trump video

A fierce behind-the-scenes dispute between House Speaker Nancy Pelosi’s office and Facebook erupted into public view Friday, as the speaker’s office demanded that Facebook remove a video posted online by President Donald Trump. The video, labeled “Powerful American stories ripped to shreds by Nancy Pelosi,” was posted on both Facebook and Twitter. Trump tweeted the video from his Twitter account just before 6 p.m. Thursday to his more than 72 million followers. Both Facebook and Twitter decided


A fierce behind-the-scenes dispute between House Speaker Nancy Pelosi’s office and Facebook erupted into public view Friday, as the speaker’s office demanded that Facebook remove a video posted online by President Donald Trump.
The video, labeled “Powerful American stories ripped to shreds by Nancy Pelosi,” was posted on both Facebook and Twitter.
Trump tweeted the video from his Twitter account just before 6 p.m. Thursday to his more than 72 million followers.
Both Facebook and Twitter decided
Facebook and Twitter decline Pelosi request to delete Trump video Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-07  Authors: eamon javers
Keywords: news, cnbc, companies, facebook, speech, remove, pelosi, video, office, trump, nancy, decline, twitter, request, pelosis, delete


Facebook and Twitter decline Pelosi request to delete Trump video

US Vice President Mike Pence claps as Speaker of the US House of Representatives Nancy Pelosi appears to rip a copy of US President Donald Trump speech after he delivers the State of the Union address at the US Capitol in Washington, DC, on February 4, 2020.

A fierce behind-the-scenes dispute between House Speaker Nancy Pelosi’s office and Facebook erupted into public view Friday, as the speaker’s office demanded that Facebook remove a video posted online by President Donald Trump.

The video in question showed Pelosi’s viral State of the Union moment ripping up the text of Trump’s speech Tuesday night, but was edited to make it appear that she ripped the speech even as Trump saluted a Tuskegee airman in the audience. In fact, Pelosi’s speech-ripping gesture came at the end of the president’s speech, and her office said it was in response to the totality of the speech and what Pelosi saw as misinformation in it.

The video, labeled “Powerful American stories ripped to shreds by Nancy Pelosi,” was posted on both Facebook and Twitter. Trump tweeted the video from his Twitter account just before 6 p.m. Thursday to his more than 72 million followers.

Within hours, the speaker’s office was demanding both social media companies remove the video, arguing it was unfair to Pelosi, who actually stood and applauded the airman during the speech.

Both Facebook and Twitter decided against removing the Trump video, although the companies cited different reasons for their decisions.

The dispute became public Friday when Pelosi’s deputy chief of staff, Drew Hammill, posted a link to a criticism of the video Friday afternoon, writing “The latest fake video of Speaker Pelosi is deliberately designed to mislead and lie to the American people, and every day that these platforms refuse to take it down is another reminder that they care more about their shareholders’ interests than the public’s interests.”

Andy Stone, a Facebook spokesman, replied to Hammill on Twitter: “Sorry, are you suggesting the President didn’t make those remarks and the Speaker didn’t rip the speech?”

Hammill fired back: “What planet are you living on? This is deceptively altered. Take it down.”

In the end, both Facebook and Twitter declined to remove the Trump campaign post, citing corporate policies.

Facebook’s Stone told CNBC, “I can confirm for you that the video doesn’t violate our policies.”

Stone said the company’s policies against altered video specifically refer to video that has been edited to make it appear a person said something they didn’t say or did something they didn’t do.

Facebook’s response left Pelosi’s Hammill frustrated.

“I think they have a history here of promoting and making money off of content that is intentionally false,” Hammill said.

Twitter, for its part, has a new set of policies around manipulated media that the company announced Tuesday. The company imposed a new rule on its users: “You may not deceptively share synthetic or manipulated media that are likely to cause harm. In addition, we may label Tweets containing synthetic and manipulated media to help people understand the media’s authenticity and to provide additional context.”

To determine that, Twitter said it would examine videos to ascertain “whether the content has been substantially edited in a manner that fundamentally alters its composition, sequence, timing or framing” as well as looking at “any visual or auditory information (such as new video frames, overdubbed audio or modified subtitles) that has been added or removed.”

But that policy doesn’t go into effect until March 5, and Twitter told Pelosi’s office that it will not remove the Trump video under its current rules. Asked if the Trump video would violate Twitter’s policies if it is posted again after March 5, Twitter spokeswoman Katie Rosborough wrote in an email: “I can’t get into hypotheticals.”

A Trump campaign spokesman said the president’s reelection effort is unconcerned about Pelosi’s reaction to the video.

“If Nancy Pelosi fears images of her ripping up the speech, perhaps she shouldn’t have ripped up the speech,” said Trump campaign spokesman Tim Murtaugh. In less than 24 hours, Murtaugh said, the video has received 2.1 million views, has reached almost 5 million people and has been shared more than 23,000 times.

It wasn’t immediately clear who actually produced the video in question. The Trump campaign referred that question to the White House, and spokespeople there did not respond to a request for comment.

As all of that was happening, Pelosi’s office was fighting to get Facebook to remove a second video of Nancy Pelosi that the speaker’s office also complained about: This one a deceptively edited video of Pelosi appearing on The Colbert Report in a comedy segment. The altered video made it appear that Pelosi was eating Tide Pods, and Facebook has a policy against that.

Facebook took the Tide Pod video down.

“When the Tide Pod challenge began we said we would take down any such videos brought to our attention out of concern for people’s safety, which is why we’ve removed this video from our platform,” a Facebook spokesman said.


Company: cnbc, Activity: cnbc, Date: 2020-02-07  Authors: eamon javers
Keywords: news, cnbc, companies, facebook, speech, remove, pelosi, video, office, trump, nancy, decline, twitter, request, pelosis, delete


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