Tag Archives: Gear
(Reuters) – Cisco Systems Inc beat analysts’ estimates for quarterly revenue and profit on Wednesday, as the network gear maker benefited from demand for its routers and switches and growth in its newer focus areas such as software.
FILE PHOTO: A logo of Cisco is seen during the Mobile World Congress in Barcelona, Spain February 27, 2018. REUTERS/Yves Herman/File Photo
Shares of the company, which also forecast second-quarter revenue largely above expectations, rose 4 percent in extended trading, putting them on track to add to the nearly 16 percent gain for the year.
Cisco pivoted to software and cyber security to cushion the impact from slowing demand for its routers and switches from companies increasingly shifting to cloud services offered by Amazon.com Inc, Microsoft Corp and Alphabet Inc instead of building their own networks.
Revenue in its application software businesses rose 18 percent to $ 1.42 billion, beating analysts’ average estimate of $ 1.37 billion, according to IBES data from Refinitiv.
Sales in its security business, which offers firewall protection and breach detection systems, rose 11 percent to $ 651 million. That fell short of IBES estimate of $ 656.4 million, but beat research firm FactSet’s estimate of $ 648.1 million.
Deals such as the $ 2.35 billion purchase of cyber security provider Duo Security in August have played an important part in driving growth in Cisco’s newer business.
Acquisitions provided an 80 basis point boost to the company’s first-quarter results year-over-year, Chief Financial Officer Kelly Kramer said on a post-earnings call with analysts.
Revenue in its infrastructure platform unit, which houses the switches and routers business, rose about 9 percent to $ 7.64 billion, topping expectation of $ 7.39 billion.
Subscriptions, which provide a more steady revenue flow, accounted for 57 percent of total software revenue in the first quarter, the company said. The share was 56 percent in the preceding quarter.
“Cisco is executing on its plan to move its business model to software and subscriptions while benefiting from a strong IT spending environment,” said Mark Cash, an analyst with Morningstar.
Cisco said tariffs were immaterial for the reported quarter, but added that the impending 25 percent duties could weigh on third-quarter results.
The company said it expects second-quarter revenue growth of between 5 percent and 7 percent from a year earlier. This implies a range of between $ 12.48 billion and $ 12.72 billion, while analysts were expecting $ 12.53 billion.
For its first quarter ended Oct. 27, the company reported an adjusted profit of 75 cents per share, above the average estimate of 72 cents.
Total revenue rose 7.7 percent to $ 13.07 billion, topping estimate of $ 12.87 billion. However, the company said deferred revenue fell 9.4 percent to $ 16.81 billion.
Reporting by Akanksha Rana in Bengaluru; Editing by Sriraj Kalluvila
Now you can watch YouTube with friends, no matter which reality you’re in.
Streaming giant YouTube has recently announced VR compatibility with Samsung — making YouTube VR available for all Gear VR users. The app has traditionally only been available via Daydream View, HTC Vive, and PlayStation VR.
In an official blog post from the company, YouTube VR Product Lead Erin Teague explained the company’s intention to make VR experiences available and accessible to the millions of users not already on a compatible headset.
We want everyone with a VR headset to be able to experience YouTube VR…. Starting today, we’re expanding access to millions of people with Gear VR headsets. You’ll be able to download the app from the Oculus Store for free starting this week.
There is no mention of YouTube VR on Oculus — and most notably not for Oculus Go, the company’s standalone headset launched earlier this summer.
This move will certainly curb the frustration felt by Gear VR users left to navigate YouTube via a web browser, but maybe more notable: YouTube has also included Gear VR in its rollout of the “Watch Together” feature.
More VR/AR coverage on Forbes:
“[T]oday we’re introducing a new feature in the YouTube VR app that lets you watch and discuss videos with others in a communal, virtual space,” Teague said.
First announced during Google I/O 2017, this co-watching feature allows multiple people to join the same 360-degree video by joining “parties.”
“We believe that one of the best ways to experience VR is with other people,” Teague said.
Welcome to Seeking Alpha’s Stocks to Watch – a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning.
By all appearances it’s going to take a lot to knock the stock market off its 2018 upward drive as potential landmines such as North Korea, political chaos and looming government shutdowns continue to be sidestepped with animal spirits stirred up. On that note, Bespoke Investment Group added up the cumulative declines on the S&P 500 on a rolling six-month basis to find that it’s been over 50 years since so little downward pressure has been applied to stocks. Looking ahead to next week, some heavy hitters are expected to post tax benefit-adjusted guidance in what could be another driver for investor enthusiasm.
Expected IPO filings Pagseguro Digital (Pending:PAGS) and Entera Bio (OTC:ENTZ) on Jan. 23; Solid Biosciences (Pending:SLDB), Gates Industrial (Pending:GTES) and Menlo Therapeutics on Jan. 24; Adial Pharmaceuticals (Pending:ADIL), PlayAGS (Pending:AGS) and Armo Biosciences (Pending:ARMO) on Jan. 25.
FDA watch: GlaxoSmithKline (NYSE:GSK), Innovia (NASDAQ:INVA) and Theravance Biopharma (NASDAQ:TBPH) are expected to find out if the supplemental new drug application for triple therapy inhaler Trelegy Ellipta has been accepted for review by the regulator. The FDA’s Tobacco Products Scientific Advisory Committee is also meeting on Jan. 24-25 to review Philip Morris International’s (NYSE:PM) iQOS. Feedback from the committee on the alternative tobacco product could also impact British American Tobacco (NYSEMKT:BTI), Altria (NYSE:MO), Vector Group (NYSE:VGR) and Turning Point Brands (NYSE:TPB).
IPO/secondary share lockup period expirations: Bill Barrett (NYSE:BBG), RBB Bancorp (NASDAQ:RBB), First Republic (NYSE:FRC) and Corbus Pharmaceuticals (NASDAQ:CRBP) on Jan. 22; Sienna Biopharmaceuticals (NASDAQ:SNNA), Ablynx (NASDAQ:ABLX), Immune Design (NASDAQ:IMDZ), Savara (NASDAQ:SVRA) and UniQure (NASDAQ:QURE) on Jan. 23; Newater Technology (NASDAQ:NEWA), Redfin (NASDAQ:RDFN), Idera Pharmaceuticals (NASDAQ:IDRA), Atossa Genetics (NASDAQ:ATOS) and Hutchison China MediTech (NASDAQ:HCM) on Jan. 24; First Bancshares (NASDAQ:FBMS), VBI Vaccines (NASDAQ:VBIV) , Celsion (NASDAQ:CLSN) on Jan. 25.
Notable earnings reports: Earnings season really heats up this week with major reports out of every sector. Netflix (NASDAQ:NFLX) and Halliburton (NYSE:HAL) on January 22; Johnson & Johnson (NYSE:JNJ), Texas Instruments (NYSE:TXN), Verizon (NYSE:VZ), Procter & Gamble (NYSE:PG), United Continental (NYSE:UAL), Capital One Financial (NYSE:COF) and Kimberly-Clark (NYSE:KMB) on Jan 23.; Ford (NYSE:F), General Electric (NYSE:GE), Las Vegas Sands (NYSE:LVS), Comcast (NASDAQ:CMCSA), United Technologies (NYSE:UTX) on Jan. 24; Intel (NASDAQ:INTC), Starbucks (NASDAQ:SBUX), (NYSE:VMW), Wynn Resorts (NASDAQ:WYNN) and Western Digital (NYSE:WDC) on Jan. 25; Honeywell (NYSE:HON), AbbieVie (NYSE:ABBV) and Colgate-Palmolive (NYSE:CL) on Jan. 26. See Seeking Alpha’s Earnings Calendar for the complete list.
M&A watch:There are potential deals brewing with Juno Therapeutics (NASDAQ:JUNO), Acorda Therapeutics (NASDAQ:ACOR), Kroger (NYSE:KR)-Overstock.com (NASDAQ:OSTK), CBS (NYSE:CBS), Fossil (NASDAQ:FOSL), Bloomin’ Brands (NASDAQ:BLMN) and in REIT world with Vici Properties (OTCPK:VICI)-MGM Growth Properties (NYSE:MGP).
Detroit Auto Show: With the dreamy talk about next-gen electrification and mobility goals out of the way, the second week of the Detroit Auto Show is all about letting the public see new models. Front and center in Detroit will be the Ford (F) Ranger, Chevrolet (NYSE:GM) Silverado and Ram (NYSE:FCAU) 1500. BMW (OTCPK:BMWYY) is looking to gain traction in a new sub-segment with the sporty X2 SUV, while Volkswagen (OTCPK:VLKAY) is showcasing the new sub-$ 20K Jetta as it looks to rebuild U.S. sales. On the exotic side, Steve McQueen fans might want to take a look at the special edition Ford Mustang Bullitt. Although Tesla (NASDAQ:TSLA) is skipping the Detroit Auto Show for the third year in a row, the Model 3 will be in the spotlight this week as it makes its way into more showroom. Early test drive reviews (Los Angeles Times, Edmunds (video), USA Today) are already starting to roll in.
Crypto: A couple of mainstream events are on the calendar this week with the Blockchain Davos Conference 2018 and Cannaccord Blockchain Investor Day scheduled for Jan. 23. The blockchain-focused Amplify Transformational Data Sharing ETF (NYSEARCA:BLOK) and Reality Shares Nasdaq NexGen Economy ETF (NASDAQ:BLCN) will also catch the spotlight as they close out their first week of trading. As always, expect volatility in the sector. 7-day crypto scorecard: Bitcoin -14%, Ripple -25%, Ethereum -18%, Bitcoin Cash -31%, Litecoin -19%, Cardano -24%, NEM -25%, NEO +5%, TRON -25%, Stellar -10% and IOTA -26%.
Investor/Analyst Days: The Medicines Company (NASDAQ:MDCO) on Jan 23.
Sales/business updates: HP (NYSE:HPQ) on Jan. 22; Workhorse Group (NASDAQ:WKHS) on Jan. 23; Progressive on (NYSE:PGR) on Jan. 24.
Extraordinary shareholder meetings: CTI Biopharma on (NASDAQ:CTIC) on Jan. 24; Broadsoft (NASDAQ:BSFT) on Jan. 25.
Americas Lodging Investment Summit: Just days after a big industry-rattling deal between Wyndham Worldwide (NYSE:WYN) and La Quinta (NYSE:LQ), hotel management execs meet in L.A. on Jan 22-25. Presenters include Hyatt (NYSE:H), Choice Hotels (NYSE:CHH), Park Hotels & Resorts (NYSE:PK), Marriott International (NYSE:MAR), Red Lion Hotels (NYSE:RLH) and Ashford (NYSEMKT:AINC).
Barron’s mentions: In part 2 of its Roundtable, the panel discusses potential bargains including Samsung (OTC:SSNLF), Starbucks, GrubHub (NYSE:GRUB) and MetLife (NYSE:MET), among others. A set of picks for top stocks in emerging markets include Sberbank (OTCPK:SBRCY), Posco (NYSE:PKX), China Construction Bank (OTCPK:CICHY) and Hollysys Automation Technologies (NASDAQ:HOLI). And retailer H&M (OTCPK:HNNMY) isn’t a bargain yet despite a recent 20% decline.
Sources: CNBC, EDGAR, Bloomberg and Nasdaq.com.
Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.
(Reuters) – Applied Materials Inc reported better-than-expected quarterly results and gave a strong current-quarter forecast as the world’s largest supplier of tools to make semiconductors enjoys strong demand in its chip and display businesses.
The company’s shares were up about 1 percent in trading after the bell on Thursday, reversing course from a drop of nearly 2 percent immediately after the results were released.
Applied Materials has now topped analysts estimates in each quarter of the latest fiscal year, helping its shares surge about 79 percent this year, making them the fourth best performer on the Philadelphia semiconductor index.
Applied Materials, whose results are seen as a barometer for the semiconductor industry, has been benefiting from higher demand for 3D NAND memory chips from smartphone makers and the shift to organic light-emitting diode technology for displays.
Worldwide shipments of PCs, tablets and smartphones are expected to exceed 2.35 billion units in 2018, an increase of 2.0 percent from 2017, according to a report published by research firm Gartner in October. (gtnr.it/2AUZwTp)
While Applied Materials has benefited from surging sales of smartphones, it is also set to cash in on the rise of new technologies such as AI, big data, machine learning, augmented reality and autonomous driving.
“The semiconductor business has clear tailwinds around next generation areas such as AI and other parts of the tech food chain,” Daniel Ives, analyst at GBH Insights said.
The Santa Clara, California-based company forecast current-quarter adjusted earnings per share of 94 cents to $ 1.02 and net sales of $ 4.00 billion to $ 4.20 billion.
The forecasts were comfortably above analysts’ average estimate of a profit of 91 cents and revenue of $ 3.96 billion, according to Thomson Reuters I/B/E/S.
The company said its net income rose 61 percent to $ 982 million in the fourth quarter. Excluding items, it earned 93 cents per share, 2 cents above analysts’ estimates.
Total net sales rose 20.4 percent to $ 3.97 billion. Analysts were expecting $ 3.94 billion.
Sales from its display business, which caters to television, PC and smartphone makers, rose nearly 50 percent to $ 677 million and handily beat analysts estimates of $ 452 million.
“There is huge demand for new display technology, while … average screen sizes for both TVs and mobile devices are growing considerably,” Chief Executive Gary Dickerson said on a post-earnings call.
Revenue from its semiconductor business, the company’s largest, rose 14.3 percent to $ 2.43 billion, topping analysts’ estimate of $ 2.13 billion.
Reporting by Laharee Chatterjee in Bengaluru; Editing by Savio D’Souza
According to Forbes, cloud computing has already been around for about a decade now. For this reason, for a newly arrived company in this industry, …
Samsung sent out invites to its event ahead of the upcoming IFA trade show in Berlin, and it contained what appears to be a clue hinting at the unveiling of the Gear S3 smartwatch. The company is hosting an event on August 31 in the German capital, and the event invite reads ‘Talk About 3’. There’s also a graphic that resembles an abstract watch face with the hands pointing to 6 o’clock – which is when the event is scheduled. It also has a ‘Gear’ logo near the bottom. A recent tweet containing a GIF also seems to hint not-so-subtly…
This story continues at The Next Web
In what is perhaps a long time coming for VR enthusiasts who have expressed faith in Oculus CEO Palmer Luckey’s vision for mainstream consumer hardware, the Facebook-acquired brand is finally putting it all together. Today at the keynote for Oculus Connect 2 in Hollywood, Samsung VP of Mobile Peter Koo announced a $ 99 Gear VR headset that will make use of Oculus technology and be ready in time for holiday shopping. The hardware will be compatible with all of Samsung’s Gear products, including the Note 5, S6 Edge+, S6, S6 Edge. Koo said it will be available to ship on Black Friday. The Gear…
This story continues at The Next Web
We already knew Samsung’s final Gear VR was coming in 2015. Now we have a price and a better sense of the release timing.
The mobile-based virtual reality headset will launch in North America “in time for Black Friday” and worldwide “shortly after,” as Samsung SVP of Technology Strategy Peter Koo revealed when he took the stage at the Oculus Connect keynote on Thursday. It’ll sell for $ 99.
The final build of the Gear VR is 22% lighter than the “Innovator Edition” that first launched in Dec. 2014. It’s also got a revised design that does away with the top head strap and a smarter design for the side-mounted touchpad, with an directional pad-shaped indentation that should make blindly operating the controls more convenient. Read more…
Here are all the big announcements:
While Oculus is planning to release the amazing new Rift headset in Q1 2016, one of its biggest partners, Samsung, revealed it will release the consumer version of Gear VR in November for just $ 99. This will work with Samsung’s Galaxy S6, S6 Edge, S6 Edge+, and Note 5.
Oculus SDK 1.0 is coming in November
Both Rift and Gear VR will need a lot of VR content, and Oculus is planning to update its software-development kit to help studios do exactly that. One of the big things this SDK will come with is direct drivers — this will enable the headset to work without having to fiddle with setting up the Rift as an external monitor.
This is a 1980s-style arcade simulator that enables you to feel like you’re playing Pac-Man at a stand-up machine.
Trailer for Rift games
Twitch, Hulu, Netflix, and more to support Oculus Video
Developers are working on plenty of games for virtual reality, but Oculus is expecting all kinds of content to make the leap to its Rift and Gear VR systems. That includes video services like Netflix and Hulu — the latter of which revealed it is planning to build VR-native videos.
“Oculus Ready” PCs
You’re gonna need a beefy PC to use an Oculus Rift, but you won’t need to guess if certain systems will work. Oculus announced it will work with hardware manufacturers like Dell, Alienware, and Asus on a line of “Oculus Ready” rigs that cost less than $ 1,000.
Microsoft is planning to make the Windows 10 Edition of its block-building game Minecraft compatible with Xbox One.
Oculus is working on its equivalent of Xbox Live and the App Store
Facebook, the owner of Oculus VR, has said that it won’t try to make a lot of money on the Rift hardware. That means it’s going to make the real cash on the app and software side. And we saw a little bit of that today when the company revealed how its platform will handle social features, analytics, and distribution.
Oculus Touch trailer and release date
The incredible Oculus Touch controllers, which brings your hands into VR, aren’t coming out until Q2 of 2016. But here’s a trailer to show what they can do.
Oculus chief executive officer Brendan Iribe said that every new platform needs a paint app, and Medium is what his company is calling its take on 3D drawing.
Epic reveals new Oculus Touch demo Bullet Train
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