Game. The place china, the weapon a cheaper smart phone. That and more tonight on nightly Business Report for wednesday, august 14th. Good evening everyone. Cisco with earnings that top estimates and solid revenues but this quarter is worrying investors. John chambers is warning its revenue will be below wall street expectations and lay off 5 of its work force, thats about 4,000 people. Shares fell as much as 9 in after hours trading. Jon fortt joins us from san jose, john . One of the things that John Chambers said on the call is that cisco is having fits reading the Economic Data and that summarizes the after hours action analysts questioned about what exactly cisco is doing. John chambers said the Global Growth and lack thereof shows inconsistency. The switching business looks good. The routing business except the edge looks bad. Certain geographies, northern europe, north america look good but japan, china dont look as good. What chambers said is cisco is commited to delivering on
Comments from reid hastings. I hope youre hungry news on dominos, wendys a bunch of Food Companies and throw dupont in there, if you wanted. Thats what they want you to say. Sorry, kids, no more kids meals at taco bell. Will other fast food chains follow . Well start with dupont. Shares on the rise this morning. The dow component beating the street with 1. 28 and revenues coming in a bit shy of consensus. Dupont considering a sale or a spin off of its chemicals business. Ellen spoke about that unit earlier on squawk earlier this morning. Volumes were up sequentially year over year, but off from last years market. A cyclical and volatile segment for us. Thats the segment that is undergoing review of strategic alternatives. Second largest sales generator, jim, behind aggs. She has not spoken to nelson peltz yet. This is one of these moments where it makes a ton of sense. If you listening, the stock was at 54. You just caught a 10 move. What is important here is that a lot of people felt
Big dollars pouring in to big deals today with three multibillion dollar mergers, two of the Worlds Largest advertising agencies agreed to merge. France will create a new ad biamus. And the scale and power to better compete for digital ad space. Also today, a big deal in the Luxury Retail space. Canadas Largest Department store chain, which already owns lord taylor is paying about two and a half billion dollars in cash for saks 5th avenue. The company will have 320 stores in some of the biggest cities in north america. A mega pharmaceutical merger, perago is paying for alon corp. , opening the way for it to move to ireland for much lower tax rate and to expand into italy. A smaller deal to tell you about, Sinclair Broadcasting group is buying eight abc affiliates along with a 24hour cable news channel in washington, d. C. , for just under 100 billion. The current owner is the owner of politico. Why is all this corporate buying going on now . Joining us to answer that, richard peterson,
Good evening, everyone. Big dollars pouring in to big deals today with three multibillion dollar mergers, two of the Worlds Largest advertising agencies agreed to merge. France will create a new ad biamus. And the scale and power to better compete for digital ad space. Also today, a big deal in the Luxury Retail space. Canadas Largest Department store chain, which already owns lord taylor is paying about two and a half billion dollars in cash for saks 5th avenue. The company will have 320 stores in some of the biggest cities in north america. A mega pharmaceutical merger, perago is paying for alon corp. , opening the way for it to move to ireland for much lower tax rate and to expand into italy. A smaller deal to tell you about, Sinclair Broadcasting group is buying eight abc affiliates along with a 24hour cable news channel in washington, d. C. , for just under 100 billion. The current owner is the owner of politico. Why is all this corporate buying going on now . Joining us to answer
The cost is eye popping. All that and more tonight on nightly Business Report for monday, july 29th. Good evening, everyone. Big dollars pouring in to big deals today with three multibillion dollar mergers, two of the Worlds Largest advertising agencies agreed to merge. France will create a new ad biamus. And the scale and power to better compete for digital ad space. Also today, a big deal in the Luxury Retail space. Canadas Largest Department store chain, which already owns lord taylor is paying about two and a half billion dollars in cash for saks 5th avenue. The company will have 320 stores in some of the biggest cities in north america. A mega pharmaceutical merger, perago is paying for alon corp. , opening the way for it to move to ireland for much lower tax rate and to expand into italy. A smaller deal to tell you about, Sinclair Broadcasting group is buying eight abc affiliates along with a 24hour cable news channel in washington, d. C. , for just under 100 billion. The current