‘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

Block Investor Day 2022 Talks Bitcoin

Block’s overarching purpose is to drive economic empowerment in the world and Bitcoin plays a central role in that mission, its chief executives said during the firm’s first Investor Day since 2017 on Wednesday. “We believe Bitcoin is going to have a profound impact on financial services, particularly as a tool for economic empowerment and … Read more

2 vulnerabilities with 9.8 severity ratings are under exploit. A 3rd looms

Getty Images Malicious hackers, some believed to be state-backed, are actively exploiting two unrelated vulnerabilities — both with severity ratings of 9.8 out of a possible 10 — in hopes of infecting sensitive enterprise networks with backdoors, botnet software, and other forms of malware. The ongoing attacks target unpatched versions of multiple product lines from … Read more

Dow Jones Futures Fall After Target Triggers Sell-Off; Market Rally Has 90% Chance Of Doing This

Dow Jones futures fell overnight, along with S&P 500 futures and Nasdaq futures, amid weak revenue and guidance from Cisco Systems. The stock market rally sold off hard Wednesday, as a big Target (TGT) earnings miss raised major concerns about retailers, related sectors and the broader economy amid hot inflation and weakening demand. X Wednesday’s … Read more

Hasbro slams activist investor’s proposed board directors amid proxy battle

Game maker Hasbro. Justin Sullivan | Getty Images Hasbro is going on the offensive against an activist investor wants to add new members to the company’s board and spin off the lucrative unit that includes Dungeons & Dragons. On Wednesday, the toymaker issued a letter to shareholders detailing why its current slate of board nominees … Read more

‘No longer just a payments company’

Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. Anushree Fadnavis | Reuters Block executives no longer want the firm to be seen as a payments pure play. The San Francisco-based company held its first investor day in five years … Read more

What Walmart, Target, Home Depot and Lowe’s tell us about the economy

Compilation of Target, Walmart, Lowe’s and Home Depot stores. Reuters How well is the American consumer holding up against sky-high inflation? It depends on whom you ask. Four major retailers – Walmart, Target, Home Depot and Lowe’s – reported quarterly financial results this week, and they each offered a different perspective on where and how … Read more