markets

Paige Oamek5/13/26

Cisco surges on Q3 earnings beat and better-than-expected Q4 outlook

Cisco rose double digits after beating Q3 revenue and earnings estimates and giving optimistic projections due to increasing demand from the AI industry.

Shares were 13% higher in after-hours trading.

The tech company reported:

Q3 revenue of $15.8 billion (compared to analyst estimates of $15.6 billion).
Q3 adjusted earnings per share of $1.06 (estimate: $1.04).
Q4 revenue guidance between $16.7 billion and $16.9 billion (estimate: $15.8 billion).
Q4 adjusted earnings guidance of $1.16 to $1.18 (estimate: $1.07).

Management upped its outlook for expected orders from hyperscalers this fiscal year to $9 billion from $5 billion.

Shares in the company have climbed more than 60% over the past calendar year and traded at record highs this week — surpassing $100 on Wednesday afternoon — fully riding the AI infrastructure wave. All these data centers need Cisco’s networking equipment as well as more from the likes of Arista Networks and HP Enterprise, both of which are being boosted postmarket from these results.

Chuck Robbins, chair and CEO of Cisco, said:

“Cisco is well positioned as the critical infrastructure for the AI era, building on our technology leadership and customer trust, while innovating at the speed and scale that our dynamic world demands.”

While demand for Cisco’s products has been climbing, the price of memory also remains elevated — which can create tension between booming sales and pressure on profitability.

Looking toward the full year, the company updated its outlook to expect revenue ranging between $62.8 billion and $63.0 billion, ahead of analysts’ estimates of $61.1 billion.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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