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Cisco stock takes a dive after earnings but analyst says ‘there’s nothing wrong here’

Meeting expectations wasn’t good enough for Cisco Systems Inc., as the company continued to reference a “pause” in customer spending due to macroeconomic uncertainties. Chief Executive Chuck Robbins told investors on Cisco’s CSCO, -5.96% earnings call late Wednesday that customers were “still fully planning on moving forward” but also that they were “just a little cautious and trying to see what’s […]

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Infosys to buy Simplus for $250 million

Simplus has about 500 employees, offices across North America, Sydney, Melbourne, London, and a large delivery centre in Manila Infosys has entered into a definitive agreement to acquire Simplus, a Salesforce Platinum Partner that offers services such as cloud consulting, implementation, data integration, change management. The $250-million acquisition is expected to close during the fourth quarter of fiscal 2020, subject […]

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JD Sports Fashion Says CMA’s Provisional Decision Is Fundamentally Flawed

JD Sports Fashion Plc. (JD.L) on Tuesday provided an update following the UK Competition and Markets Authority or CMA’s announcement that it has competition concerns regarding the Group’s acquisition of Footasylum Limited. The company called the CMA’s provisional decision “fundamentally flawed” and said it demonstrated a complete misunderstanding of the company’s market to an alarming extent. JD Sports agreed to […]

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MercadoLibre reports bigger Q4 loss

MercadoLibre Inc. MELI, +1.89% said its loss widened in the fourth quarter but reported sales that surpassed expectations from analysts. The e-commerce company focused on Latin American said it generated $674.3 million in sales for the quarter, up from $428 million the year earlier. Analysts polled by FactSet predicted $667 million for the latest period. MercadoLibre also reported a loss […]

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Amazon challenges India antitrust probe in court

Amazon declined a Reuters request for comment, saying the matter was going through the courts. Amazon.com Inc has begun legal action in India to quash an antitrust investigation against the company, saying it could cause “irreparable” loss and damage to its reputation, according to its court filing seen by Reuters. Last month the Competition Commission of India (CCI) ordered an […]

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Pinterest stock soars after analysts say forecast seems conservative

Pinterest Inc. may want to tack its latest earnings report to its inspiration board, judging by the market’s reaction. The internet company posted stronger-than-expected fourth-quarter results Thursday, helping shares build on their already-strong year-to-date rally. The stock PINS, +9.52% is up 13% in Friday morning trading after rising as much as 18.4% earlier in the session. The results came as validation […]

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Slowdown hits India Cements

Company reports a loss after 19 quarters of profit The India Cements Ltd. (ICL) posted a net loss of ₹5.37 crore for the third quarter ended December 2019 against a standalone net profit of ₹3.13 crore a year earlier, on weak demand. ICL had reported profit for 19 previous quarters. “The slowdown in the economy together with poor demand for […]

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