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Cisco shares dip 6% on tepid earnings outlook, profits decrease CFO to retire

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Cisco shares dip 6% on tepid earnings outlook, revenue decline; CFO to retire

Cisco Techniques Inc. noted economic final results that were being mainly in line with Wall Avenue estimates, but a different revenue drop and delicate earnings steering dinged the inventory in right after-several hours trading Wednesday.

The business also announced the retirement of lengthy-time Chief Economical Officer Kelly Kramer, once a successor is located.

The maker of community companies, videoconferencing applications and safety software program reported fourth-quarter web earnings of $2.64 billion, or 62 cents a share, as profits declined 9% to $12.15 billion from $13.4 billion in the yr-back period. Soon after changing for inventory payment and other outcomes, Cisco documented earnings of 80 cents a share, down marginally from 83 cents a share a yr ago.

Analysts surveyed by FactSet had projected modified earnings of 65 cents a share on earnings of $12.09 billion on ordinary, although those people expectations have occur down substantially given that COVID-19 began to spread across the world. Analysts expected adjusted earnings of 75 cents a share on revenue of $13.14 billion at the conclude of 2019.

Initially-quarter modified earnings direction of 69 cents to 71 cents fell brief of the 75 cents modeled by FactSet analysts. Cisco also warned that Q1 income will drop 9% to 11% calendar year-about-year. This prompted Evercore ISI analyst Amit Daryanani to instantly remark that weak steering will be his concentrate through a conference get in touch with with analysts.

The fourth-quarter results, announced soon after the market’s shut Wednesday, initially despatched Cisco
CSCO,
+1.92%
shares down more than 6% in after-hrs trading. Cisco stock is flat in 2020, although the S&P 500 index
SPX,
+1.40%
has climbed 4.6%. Because March 12, however, Cisco shares have jumped 45%.

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“By the finish of fiscal 2020, we reached our objective of far more than 50 percent of our profits coming from software and services, and this technique proceeds to resonate with prospects as they digitize their businesses,” Cisco Chief Executive Chuck Robbins explained in a assertion asserting the results. “As we emphasis on the upcoming, we are rebalancing our R&D investments to emphasis on new areas so we can keep on to offer customers the greatest, most appropriate know-how in simpler, more effortlessly consumable strategies.”

Cisco claimed it would endure a $1 billion value reduction “over the future handful of quarters” by “rebalancing its R&D investments” on numerous spots that contain cloud stability and automation in the organization, major to speculation of position cuts from Patrick Moorhead, principal analyst at Moor Insights & Strategy.

The San Jose, Calif.-based mostly organization is both benefiting and suffering in the age of coronavirus: Components income are getting squeezed during the health and economic disaster, when desire for Cisco equipment and services this kind of as Cisco Webex that aid remote perform has surged.

Cisco finds itself in a gauzy problem for the duration of the pandemic: It is dominant throughout network gear markets but faces stress from unpredictable Assistance Supplier and business investing COVID-19 and the get the job done-from-house motion has place force on significant-margin campus item groups and the the latest entry of Arista Networks Inc.
ANET,
-1.70%
and Juniper Networks Inc.
JNPR,
-.35%
into campus switching and WLAN pose threats.

“We are cognizant that Cisco’s best line is challenged in the near to medium term from macro headwinds, but diversification, opex [operating expense] discipline and income circulation adaptability afford to pay for it the skill to display bigger resilience on the earnings line,” Morgan Stanley analyst Meta Marshall, explained in July 9 be aware that upgraded Cisco shares to obese and managed a rate target of $54.

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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See how Tesla tests its electric Semi truck in the worst-case scenarios

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Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

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high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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