Mixed Session Gives Way to Mixed Cisco Q1 Results

Wednesday, November 13, 2024

Markets were mixed for the Hump Day session today, with slight misses on the Nasdaq and small-cap Russell 2000 — -0.26% and -0.75%, respectively — offset a tad by even slighter gains on the Dow, +0.11%, and the S&P 500, +0.02%. This does not bring the S&P back to new all-time closing highs.

The Monthly U.S. Federal Budget out this afternoon didn’t help matters, tumbling to -$257 billion from -$243 billion expected. This estimate was already a huge slide from the previous month’s -$67 billion.
 

Cisco Reports Mixed Q1, Shares Flat

Cisco Systems (CSCO Quick QuoteCSCO - Free Report) , which literally does not miss on earnings, beat again this afternoon in fiscal Q1: by 4 cents to 91 cents per share in the quarter, -18% year over year. Revenues $13.75 billion missed expectations by a smidge, -6.2% year over year. Good guidance for both next quarter and the full fiscal year  join improved non-GAAP gross margins and +20% product order in the quarter were the positive highlights.

Shares are flat in the after-market on the news. Cisco is up +17% year to date, but not keeping pace with the S&P, which is up +26% from the start of January trading.

Check out the updated Zacks Earnings Calendar here.
 

Beazer Beats in Q4 on Strong October

Beazer Homes (BZH Quick QuoteBZH - Free Report) shares are up +12% on its fiscal Q4 report after today’s close. Earnings of $1.69 per share outperformed the Zacks consensus by 33 cents per share, on $784 million in revenues surging past the $774.3 million expected. October sales rose +30% year over year, although mortgage rates began to creep back up at the end of the month. Beazer reverses its negative year-yo-date share price with today’s release.

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