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Bloomberg Intelligence
Bloomberg Intelligence: Deere Cuts Profit Outlook, U.S Retail Sales Drop
Feb 15, 2024
Bloomberg Intelligence analysts and experts discuss Deere's disappointing profit outlook and U.S retail sales. They also analyze the market, commercial real estate, and cognitive biases in financial decision-making. The podcast covers Cisco's business model, AI growth, and potential shift to Ethernet.
40:32
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Quick takeaways
- Cisco's recent earnings report showed a decline in revenue and a cut in estimates, reflecting the challenges faced by the company in the current market environment.
- The shift towards cloud computing and the increasing popularity of software-defined networking have impacted the demand for hardware products, causing Cisco's stock performance to lag behind software-focused companies.
Deep dives
Cisco reports earnings with lower revenue and cuts estimates
Cisco's recent earnings report showed a decline in revenue and a cut in estimates, reflecting the challenges faced by the company in the current market environment. The company announced a 5% reduction in operating expenses as part of its efforts to adjust to the changing landscape. Cisco's stock has been underperforming compared to other tech giants, partly due to its heavy reliance on hardware sales and slower growth compared to software-focused companies. The acquisition of Splunk is expected to provide opportunities for recurring revenues and boost future earnings growth.
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