Cisco Systems Inc. Q4 adjusted earnings Beat Estimates
Cisco Systems Inc. (CSCO) reported earnings for its fourth quarter that increased from last year.
The company’s earnings came in at $2.64 billion, or $0.62 per share. This compares with $2.21 billion, or $0.51 per share, in last year’s fourth quarter.
Excluding items, Cisco Systems Inc. reported adjusted earnings of $3.39 billion or $0.80 per share for the period.
Analysts had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 9.5% to $12.15 billion from $13.43 billion last year.
Cisco Systems Inc. earnings at a glance:
-Earnings (Q4): $3.39 Bln. vs. $3.59 Bln. last year.
-EPS (Q4): $0.80 vs. $0.83 last year.
-Analysts Estimate: $0.74
-Revenue (Q4): $12.15 Bln vs. $13.43 Bln last year.
Next quarter EPS guidance: $0.69 to $0.71
Avra Estiatorio signs 16,500-square-foot lease in Midtown
In the latest display of faith in post-pandemic Manhattan, famed Greek seafood restaurant Avra Estiatorio is making a splash in Midtown, The Post has learned.
Avra just signed a long-term ease for a huge 16,500 square-foot eatery at 1271 Avenue of the Americas, the redesigned Rockefeller Group-owned tower formerly known as the Time-Life Building.
It will be Avra Group’s third Manhattan location, joining its hugely popular eateries on East 48th and East 60th streets.
The restaurant plans to open in the fall for outdoor dining — and hopefully for indoors, although that will require Gov. Cuomo lifting the current indoor dining ban.
Talks for the space were first reported by The Post in February. But many real estate and restaurant-world insiders assumed the deal was dead when the coronavirus emptied out much of Midtown.
Sixth Avenue’s corporate corridor is still quiet. Few workers have returned to offices and outdoor dining — the only kind currently allowed — is scarce.
But Avra’s commitment shows that some companies believe the streets will soon be bustling with life again, said CBRE’s Eric Gelber, who repped the landlord with Rock Group’s Ed Guiltinan. Avra’s “commitment in such unprecedented times demonstrates its belief in the resiliency of New York,” he said.
The Post in recent weeks has reported on other big NYC bets, including a tower on 125th Street, a major new food hall on East 14th Street and big office leases for Facebook and AIG.
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Fuel demand dips 11.7% in July
Mini lockdowns may have reversed uptick seen in May, June
Fuel demand is beginning to flatline after showing signs of returning to life, as consumption dipped 11.7% in July, official data showed.
Fuel consumption, a barometer of economic activity, had slumped by over 45% in April as a nationwide lockdown halted most vehicular traffic and shut industries. However, with the easing of restrictions, demand picked up in May and June with a month-on-month increase in consumption numbers.
However, mini-lockdowns imposed by States to contain the spread of COVID-19 seemed to have stopped this recovery, with fuel demand falling 3.5% in July over June.
Demand fell to 15.67 million tonnes (mt) in July compared with 17.75 mt a year earlier, and 3.5% lower than the June sales of 16.24 mt.
Consumption of diesel, which accounts for about two-fifths of India’s fuel usage and is the most used fuel for transportation and irrigation, fell 19.2% to 5.52 mt in July, data from the Petroleum Planning and Analysis Cell of the Oil ministry showed. Diesel usage in July was lower than 6.3 mt consumption in June.
Petrol demand fell 10.3% from a year earlier to 2.26 mt, and by 0.8% from June.
U.S. Inflation Is Even Higher for Consumers Who Are Over Age 62
While U.S. consumer prices in July generally rose more than economists expected, the news was somewhat worse for people over 62.
Aseparate Bureau of Labor Statistics index that tracks prices associated with older consumers climbed 1.3% last month from a year earlier, compared with 1% for the consumer price index overall in Wednesday’s inflation report. The agency this month made the data available on its website; previously it was provided only on request.
Read More: U.S. Inflation Quickened in July on Costs of Vehicles, Apparel
The index shows inflation for decades has been rising at a faster clip for seniors than for the general public. That’s because it assigns higher weights to items — including medical services and housing — based on their relative importance to older people.
In 1987, Congress directed the BLS to begin calculating a consumer price index for the elderly. The BLS developed the series and reconstructed it back to the early 1980s.
Former Mexico president implicated in corruption scandal
A former head of Mexico’s state oil company has implicated former President Enrique Pena Nieto and his then-Finance Minister Luis Videgaray.
A former head of Mexico’s state oil company has implicated former President Enrique Pena Nieto and his then-Finance Minister Luis Videgaray in a corruption scandal.
The accusations are still unproven but have caused big ripples in a country where impunity is a significant problem.
Al Jazeera’s John Holman has more from Mexico City.
Bill Maher Has Perfectly Reasonable Response To Trump’s Insulting Tweet
President Donald Trump went after Bill Maher Wednesday on Twitter, but the comedian refused to take the bait.
The president railed about the way the host looked on the most recent episode of his HBO show, “Real Time With Bill Maher.”
It’s possible that Trump’s true ire was raised not by Maher’s appearance but by a particular skit on the show.
During the episode, Maher conducted a mock eulogy for the president after noting that Trump hasn’t attended funerals for famous and admired politicians like Rep. John Lewis (D-Ga.) and Sen. John McCain (R-Ariz.).
“What kind of spectacular prick do you have to be that everyone’s last request is ‘Make sure that asshole isn’t at my funeral’?” Maher said.
If Trump was hoping to anger the comedian with his tweet, it didn’t seem to work.
Maher responded to the president’s angry message in the manner of any reasonable person.
Trump’s tweet inspired even more clapback from other Twitter users.
You can see Maher’s mock eulogy below.