Latest news with #ScottHerren
Yahoo
22-05-2025
- Business
- Yahoo
Cisco To Participate in Bank of America Global Technology Conference
SAN JOSE, Calif., May 22, 2025 /PRNewswire/ -- Cisco (NASDAQ: CSCO) today announced that it will participate in the Bank of America Global Technology Conference. No new financial information will be discussed at this event Fireside ChatWednesday, June 4, 20258:40am-9:10am PST (webcast will be available on Speakers: Scott Herren, EVP & Chief Financial OfficerMark Patterson, EVP & Chief Strategy Officer During the conference, Cisco management and Investor Relations will also participate in Investor Meetings on Tuesday, June 3, 2025. About Cisco Cisco (NASDAQ: CSCO) is the worldwide technology leader that is revolutionizing the way organizations connect and protect in the AI era. For more than 40 years, Cisco has securely connected the world. With its industry leading AI-powered solutions and services, Cisco enables its customers, partners and communities to unlock innovation, enhance productivity and strengthen digital resilience. With purpose at its core, Cisco remains committed to creating a more connected and inclusive future for all. Discover more on The Newsroom and follow us on X at @Cisco. Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at Third-party trademarks mentioned are the property of their respective owners. The use of the word 'partner' does not imply a partnership relationship between Cisco and any other company. Investor Relations Contact: Press Contact: Sami Badri Robyn Blum Cisco Cisco 469-420-4834 408-930-8548 sambadri@ rojenkin@ View original content to download multimedia: SOURCE Cisco Systems, Inc.
CNBC
15-05-2025
- Business
- CNBC
Stocks making the biggest moves midday: Coinbase, UnitedHealth, Dick's Sporting Goods, Boot Barn and more
Check out the companies making headlines in midday trading. Walmart — Shares of the big-box retailer dropped 1% after Walmart fell slightly short of first-quarter sales expectations and management warned that consumers could see higher prices caused by tariffs. Walmart reported revenue of $165.61 billion, while the consensus forecast was $165.84 billion, per LSEG. The retailer earned 61 cents per share, after adjustments, beating an LSEG estimate of 58 per share. Dick's Sporting Goods — The sporting goods retailer tumbled 14% on the announcement that it would buy rival Foot Locker for $2.4 billion , in a deal expected to close in the second half of this year. Shares of Foot Locker rallied 85% on the news. UnitedHealth — The health insurer plunged 15%, hitting an intraday low not seen in more than five years. The Wall Street Journal, citing people familiar with the matter, reported on Wednesday that the company is under Justice Department investigation for potential Medicare fraud. Cisco — Shares popped nearly 6% following a better-than-expected earnings report for the network technology company's fiscal third quarter. Cisco earned 96 cents per share, excluding items, on revenue of $14.15 billion, while analysts polled by LSEG penciled in 92 cents per share and $14.08 billion in revenue, respectively. Cisco also gave strong guidance and announced finance chief Scott Herren would retire in July. Coinbase — Shares fell more than 4% after the digital currency platform said hackers bribed staff to steal customer data for use in social engineering attacks. The hackers are now demanding $20 million in ransom. Alibaba — Shares of the Chinese e-commerce giant tumbled 7% after the firm missed fiscal fourth-quarter expectations . Alibaba's net income rose 279% from a year ago, off a low base. Alibaba has been grappling with macroeconomic volatility that has dented consumer sentiment in China. Boot Barn — The Western retailer surged almost 17%, despite missing fiscal fourth-quarter estimates. The company said current-quarter same-store sales should rise more than predicted. Boot Barn plans to buy back as much as $200 million of its shares. CoreWeave — Shares of the artificial intelligence infrastructure company climbed 5% following its first earnings report as a public company. CoreWeave recorded $981.6 million in revenue, exceeding the $853 million figure anticipated by analysts surveyed by LSEG. DXC Technology — Shares of the IT services company declined almost 5% after the company issued weak guidance for the fiscal first quarter. DXC Technology expects adjusted earnings of 55 cents to 65 cents per share, while analysts polled by FactSet were expecting 79 cents per share. The company also provided a disappointing outlook for the full year. JetBlue — The airline's stock slid about 4% on the back of Raymond James' downgrade to market perform from outperform. Raymond James said JetBlue now has a more balanced risk-to-reward ratio. Aloca — The metal producer slipped 3% on the heels of UBS' downgrade to neutral from buy. UBS said the company's valuation isn't attractive. Webtoon Entertainment — Shares of the storytelling technology platform jumped nearly 12% following Citi's initiation at a buy rating. Citi said Webtoon, which beat analyst expectations when reporting first-quarter earnings earlier this week, is undervalued. — CNBC's Sean Conlon, Pia Singh, Yun Li and Lisa Kailai Han contributed reporting
Bloomberg
15-05-2025
- Business
- Bloomberg
Stock Movers: Walmart; Foot Locker, UNH
On this episode of Stock Movers: - Walmart (WMT) shares are up this morning after delivering solid sales and earnings growth, but cautioned that tariffs and economic turbulence will lead to price increases starting this month. The company is bracing for a bigger hit from the trade war and overall economic malaise in the coming months, citing a "lack of clarity" in the current operating environment. - Foot Locker (FL) rose over 80% this morning after Dick's Sporting Goods reached a $2.4 billion deal to acquire Foot Locker, with Dick's paying $24 a share for Foot Locker, an 86.5% premium on Foot Locker's closing share price. The acquisition combines two retailers affected by President Trump's tariff wars, with Dick's expecting to operate Foot Locker as a standalone business unit and maintain the Foot Locker brand. Dick's Sporting Goods sank on the news. - UnitedHealth Group (UNH) shares are lower this morning after the Wall Street Journal reported the company is under criminal investigation for possible Medicare fraud. The Justice Department has been probing the company's Medicare Advantage business since at least last summer, but the nature of the potential criminal allegations is unclear. UnitedHealth has denied being notified about the investigation and stands by the integrity of its Medicare Advantage program. - Cisco (CSCO) is higher this morning after the networking equipment provider boosted its full-year revenue guidance and beat the average analyst estimate. Separately, the company announced some executive changes, including the departure of Scott Herren as CFO.
Yahoo
15-05-2025
- Business
- Yahoo
The Middle East will be 'a center for AI': Outgoing Cisco CFO
Cisco Systems (CSCO) continues to get a stock bump into Thursday's pre-market trading after reporting third quarter results yesterday, beating earnings and revenue estimates and raising its full-year guidance. Outgoing Cisco CFO Scott Herren and the Incoming Cisco CFO Mark Patterson sit down with the Morning Brief team in the studio to talk more about the earnings print, Cisco's CapEx spending around AI networks, the company's outlook on infrastructure scaling in regions like the Middle East, and the transition for the two CFOs. Patterson will officially take over as chief financial officer on July 27. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
CNBC
15-05-2025
- Business
- CNBC
Stocks making the biggest moves premarket: Walmart, Dick's Sporting Goods, UnitedHealth, Alibaba and more
Check out the companies making headlines before the bell. Walmart – The discount retailer reported better-than-expected earnings , but shares were slightly lower in the premarket. Walmart posted an adjusted profit of 61 cents per share, beating an LSEG estimate of 58 per share. Revenue of $165.61 billion was about in line with the consensus forecast of $165.84 billion. Dick's Sporting Goods , Foot Locker – Shares of Dick's Sporting Goods slid nearly 11% after the athletic apparel and goods company agreed to purchase smaller rival Foot Locker for $2.4 billion. Dick's offered $24 per share of Foot Locker, which implies 86% upside to the stock's price. Foot Locker shares popped roughly 83% on the news. UnitedHealth Group – The health insurer's shares pulled back more than 6%. On Wednesday, The Wall Street Journal, citing people familiar with the matter, reported that UnitedHealth is being investigated by the Department of Justice for possible Medicare fraud . Cisco Systems – The networking technology stock rose more than 2% after its latest quarterly results topped Wall Street's expectations. Cisco earned 96 cents per share, excluding items, on revenue of $14.15 billion versus the consensus estimate of 92 cents per share and $14.08 billion in revenue. Cisco also issued upbeat guidance for the full year and announced that its finance chief, Scott Herren, will be retiring in July. Alibaba – U.S.-listed shares of the Chinese e-commerce giant dropped nearly 4% after its results for the fiscal fourth quarter missed analyst estimates. Boot Barn – The Western retailer's shares rallied 13% despite weaker-than-expected fiscal fourth-qurater earnings and a soft full-year revenue forecast. Boot Barn earned $1.22 per share on $454 million in revenue, while analysts forecasted profit of $1.24 per share and revenue of $458 million, per LSEG. Boot Barn said it would repurchase $200 million of its stock. CoreWeave – Shares of the artificial intelligence infrastructure company fell 4% after a widening loss in the first quarter . Revenue of $982 million was above the $853 million expected by analysts, according to LSEG. This was CoreWeave's first report as a public company, and the stock is up more than 60% since its IPO. Apple – Shares of the iPhone maker shed about 1%. President Donald Trump said on Thursday that he told CEO Tim Cook that he doesn't want the company to build its products in India . DXC Technology – The IT services stock plummeted more than 13% on the heels of disappointing guidance for the fiscal first quarter. The company said adjusted earnings are expected to come in between 55 cents and 65 cents per share. Analysts had penciled in 77 cents per share, LSEG said. DXC Technology's full year guidance also missed expectations. — CNBC's Alex Harring, Jesse Pound, Fred Imbert and Pia Singh contributed reporting.
