Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Cisco said on Wednesday it will cut up to 5,500 positions, about 7 percent of its global workforce, beginning in the fiscal first quarter of 2017.
The company said that "today's market requires Cisco and our customers to be decisive, move with greater speed and drive more innovation than we've seen in our history." Cisco said it expects to reinvest the cost savings from its restructuring plan into "key priority areas such as security, IoT, collaboration, next generation data center and cloud."
The stock was down about 1 percent in extended trading.
Cisco also posted earnings and revenue that topped analyst expectations on Wednesday.
The company reported fiscal fourth-quarter earnings of 63 cents a share on revenues of $12.64 billion, beating analyst expectations for 60 cents per share on revenues of $12.57 billion, according to a Thomson Reuters consensus estimate.
Cisco CFO Kelly Kramer said that Cisco's "strong operational discipline has enabled us to drive growth and margin improvement as we continue to invest in key priority areas such as security, IoT, collaboration, next generation data center and cloud, while also delivering shareholder value."
Cisco also said it expects adjusted first-quarter earnings to come in between 58 cents and 60 cents per share.
This is breaking news. Please check back for updates.
Cisco CEO Chuck Robbins will appear on CNBC's "Squawk on the Street" on Thursday at 9 a.m. ET.