After Hours

Cisco Plunges After Slashing Revenue Guidance

While Cisco reported both EPS and revenue that beat Wall Street estimates, it was the company's revenue guidance that stunned the market as the company now expects sales to decline between 4 and 6% in the fourth quarter, crushing consensus estimates of a modest 1% decline.

Hertz Plunges 14% After Reporting Abysmal Earnings

Hertz stock plunged after hours after the car rental company missed first-quarter expectations, when it reported abysmal Q1 earnings. HTZ reported a Q1 net loss from continuing operations of $223 million, or $2.69 a share, including $30 million of impairment charges, a loss over four times greater compared to the $52 million it lost in Q1 of 2016.

How Uber Hurts Hertz

While Hertz gets keelhauled when it loses a few hundred millions dollars, Uber is considered a hero when it loses billions of dollars. It’s easy to plow down competition when burning unlimited amounts of investor cash is part of the business model. This allows Uber to undercut any kind of competition.

Global Stocks Pause Ahead Of GDP Report; Nasdaq Hits Fresh Record High

Despite yesterday's whopping beats by Amazon and Google which sent the Nasdaq to new record highs after hours, this morning futures S&P futures are little changed ahead of the closely watched Q1 GDP report, European stocks and Asian equities are slightly lower, oil is higher after Russia said it had reached the 300kbpd oil cut per the OPEC pact, and the dollar was modestly in the red.

Facebook Killer Manhunt Continues - Cops Warn "May Be Out-Of-State"

Amid hundreds of tips - direct to law enforcement officials and across social media - Cleveland police warned early Monday that residents in Pennsylvania, New York, Indiana and Michigan should be on the lookout for 37-year-old Steve Stephens, who is driving a white Ford Fusion and is believed to be armed and dangerous. "Suspect may be out-of-state at this time...Those outside of Northeast Ohio: Contact Local Authorities."

Market Sours On Tesla's "Phantom" Beat, Stock Slides

Tesla shares have quickly given up all gains from the better-than-expected earnings as the sell-side awaits more clarity on the cost and capital raise plans. One analyst specifically took aim at the fourth quarter results, calling out the beat as "phantom" given the exclusion of the SolarCity acquisition from consensus estimates.