Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: longnshort who wrote (1157146)	8/16/2019 8:30:04 AM
From: sylvester80	Respond to of 1572918

OOPS! Deere cuts full-year earnings forecast after profits miss estimates Reuters•August 16, 2019 finance.yahoo.com CHICAGO, Aug 16 (Reuters) - Deere & Co.'s third-quarter earnings on Friday missed Wall Street's estimates on lower farm equipment sales, prompting the company to revise down its full-year profit and sales growth forecasts. For the quarter ended July 28, the company reported an adjusted profit of $2.71 per share, up 4.6% from a year earlier. That compared with Refinitiv IBES' average analyst estimate of $2.85 per share. Deere now expects full-year net income of $3.2 billion on annual sales up 4%, lower than the $3.3 billion of income on sales up about 5% projected earlier. (Reporting by Rajesh Kumar Singh; Editing by Mark Potter)

To: longnshort who wrote (1157146)	8/16/2019 8:34:55 AM
From: sylvester80	Read Replies (1) \| Respond to of 1572918

OOPS! Cisco drops on poor guidance, says China business dropped 25% PUBLISHED WED, AUG 14 2019 4:09 PM EDTUPDATED THU, AUG 15 2019 8:41 AM EDT Jordan Novet @JORDANNOVET cnbc.com KEY POINTS Cisco beat on top and bottom lines.Guidance came in below estimates.The company said it would buy Acacia Communications in the quarter. Chuck Robbins, CEO of Cisco. Katie Kramer \| CNBC Cisco shares tumbled on Wednesday after the company reported weaker-than-expected guidance. It had already dropped 4% during the day on a disastrous day for stocks. Here’s what the company reported: Earnings: 83 cents per share, excluding certain items, vs. 82 cents per share as expected by analysts, according to Refinitiv.Revenue: $13.43 billion, vs. $13.38 billion as expected by analysts, according to Refinitiv. In premarket trading Thursday, shares of Cisco were off more than 9%. Revenue grew 6% on an annualized basis in the quarter, according to a statement. “We did see in July some slight early indications of some macro shifts that we didn’t see in the prior quarter,” Cisco CEO Chuck Robbins told analysts on a Wednesday conference call. He said in the quarter Cisco company saw “significant impact” on business in China because of the U.S.-China trade war. In China, Cisco’s revenue was down 25% on an annualized basis in the quarter, Kelly Kramer, the company’s chief financial officer, said on the call. “What we’ve seen is in the state on enterprises ... we’re just being -- we’re being uninvited to bid,” Robbins said. “We’re not being allowed to even participate anymore.” Sales to carriers declined more forcefully as well, he said. The majority of Cisco’s revenue comes from sales of data center networking products, including switches and routers. That business is represented by Cisco’s Infrastructure Platforms segment, which came up with quarterly revenue of $7.88 billion, above the $7.84 billion consensus among analyst polled by FactSet. The Applications segment had $1.49 billion in revenue, in line with the $1.49 billion FactSet analyst consensus. Cisco’s Security business contributed $714 million in revenue, less than $739.9 million FactSet consensus estimate. Heading into the report, some analysts expressed concerns about Cisco given storage hardware company NetApp’s decision to lower its fiscal-year guidanceat the beginning of August. “We expect a large portion of NetApp’s headwinds to have limited implications for Cisco, except for cautious spending from large accounts which we believe Cisco is well positioned to offset through a strong product cycle and broader customer exposure,” JP Morgan analysts led by Samik Chatterjee wrote in a Monday note. Cisco’s broad customer base could help the company weather softer macroeconomic conditions, wrote the JP Morgan analysts, who have an overweight rating on Cisco stock. In the quarter Cisco announced new Wi-Fi products and a plan to acquire Acacia Communications for $2.6 billion. As for guidance, Cisco said it expects to report 80 to 82 cents in earnings per share, excluding certain items, and flat to 2% revenue growth in the first quarter of its 2020 fiscal year. Analysts polled by Refinitiv were looking for 83 cents in earnings per share, excluding certain items, and $13.40 billion in revenue, or 2.5% growth, for that period. Shares of the company are up 17% since the beginning of the year.

To: longnshort who wrote (1157146)	8/16/2019 8:36:00 AM
From: sylvester80	Respond to of 1572918

OOPS! US housing starts drop for third straight month PUBLISHED MOMENTS AGO cnbc.com KEY POINTS U.S. homebuilding fell for a third straight month in July.A steep decline in the construction of multi-family housing units was the culprit, but a jump in permits to a seven-month high offered hope for the struggling housing market.Housing starts dropped 4% to an annual rate of 1.191 million units last month, the Commerce Department said.Building permits surged 8.4%, the largest gain since June 2017, to a rate of 1.336 million units in July. Contractors work on the frame of a home under construction at the D.R. Horton Express Homes Magma Ranch housing development in Florence, Arizona. Caitlin O’Hara \| Bloomberg \| Getty Images U.S. homebuilding fell for a third straight month in July amid a steep decline in the construction of multi-family housing units, but a jump in permits to a seven-month high offered hope for the struggling housing market. Housing starts dropped 4.0% to a seasonally adjusted annual rate of 1.191 million units last month, the Commerce Department said on Friday. Homebuilding was likely disrupted by Tropical Storm Barry, which drenched Louisiana in the middle of July. Data for June was revised down to show homebuilding falling to a pace of 1.241 million units, instead of dropping to a rate of 1.253 million units as previously reported. Economists polled by Reuters had forecast housing starts would edge up to a pace of 1.257 million units in July. The housing market has not benefited much from declining mortgage rates because of land and labor shortages, which are constraining builders’ ability to construct sought-after lower-priced homes. That has left the housing market continuing to grapple with tight inventory and sluggish sales growth. The 30-year fixed mortgage rate has dropped to 3.60% from a peak of 4.94% in November, according to data from mortgage finance agency Freddie Mac. Further declines are likely as the Federal Reserve is expected to cut interest rates gain next month amid growing risks to the economic outlook from trade tensions and slowing global growth, which contributed to an inversion of the U.S. Treasury yield curve and sparked recession fears. The U.S. 2-year Treasury note yield rose above the 10-year bond yield on Wednesday for the first time since June 2007. The U.S. central bank cut its short-term interest rate last month for the first time since 2008. Single-family homebuilding, which accounts for the largest share of the housing market, increased 1.3% to a rate of 876,000 units in July, the highest level in six months. Single-family housing starts rose in the Northeast, West and Midwest, but dropped 3.9% in the populous South. Building permits surged 8.4%, the largest gain since June 2017, to a rate of 1.336 million units in July. Last month’s surge is a positive development for permits, which have been weak this year. Much of the decline in permits has been concentrated in the single-family housing segment. A survey on Thursday showed confidence among homebuilders nudged up in August. Builders reported firm demand for single-family homes but said they “continue to struggle with rising construction costs stemming from excessive regulations, a chronic shortage of workers and a lack of buildable lots.” According to builders, lower borrowing costs had not boosted the housing market because of the “rate declines occurred due to economic uncertainty.” Residential investment has contracted for six straight quarters, the longest such stretch since the 2007-2009 Great Recession. Permits to build single-family homes increased 1.8% to a rate of 838,000 units in July, the highest level in eight months. Despite the rise last month, permits continue to lag housing starts, which suggests single-family homebuilding could remain tepid. Starts for the volatile multi-family housing segment dropped 16.2% to a rate of 315,000 units in July. Permits for the construction of multi-family homes surged 21.8% to a rate of 498,000 units last month.