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Cisco Surpasses AI Target 🤖

And, Dick’s might buy Foot Locker.

May 15, 2025

Today is Wednesday, May 15, 2025.

The Early Bird Index today is 79.74

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Cisco Surpasses AI Target 🤖

Cisco Systems $CSCO ( â–¼ 0.79% ) jumped 2.66% in after-hours trading on Wednesday after reporting good financial earnings results.

Financials: Cisco reported earnings of 96 cents per share and revenue of $14.1 billion in the past quarter; both were better than expected.

Powering the Story: AI infrastructure orders from webscale clients exceeded $600 million in the period, surpassing Cisco’s $1 billion target a quarter early.

Early Bird’s Nest Egg Gains: Cisco surpassed its $1 billion AI infrastructure orders target a full quarter earlier than anticipated, driven by a combination of strong demand from key customers, strategic product investments, and new global partnerships. The company’s early achievement of its AI infrastructure orders target reflects robust market demand.

Final Thoughts: Cisco, up 3% this year, also named a new CFO on Wednesday.

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Notables

Notable Earnings Today: Walmart (NYSE: WMT), Applied Materials (Nasdaq: AMAT), CAVA Group (NYSE: CAVA), Gambling.com Group (Nasdaq: GAMB), Take-Two Interactive Software (Nasdaq: TTWO), Virgin Galactic (NYSE: SPCE), Alibaba Group (NYSE: BABA), Doximity (NYSE: DOCS), Deere (NYSE: DE), Birkenstock Holding (NYSE: BIRK), Marex Group (NYSE: MRK), Globant (NYTSE: GLOB), Canadian Solar (Nasdaq: CSIQ), Advanced Drainage Systems (NYSE: WMS), Bragg Gaming (Nasdaq: BRAG), Credicorp (NYSE: BAP), Expion360 (Nasdaq: XPON), Invivyd (Nasdaq: IVVD), KE Holdings (NYSE: BEKE), KOR Group Holdings (NYSE: KORE), Ree Automotive (Nasdaq: REE), Zeekr Intelligent Technology (NYSE: ZK).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: RISE Robotics (Wefunder), Robert Rodriguez’s Brass Knuckle Films (Republic), Sera Swimwear (Wefunder), AvaWatz (Wefunder).

Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), Producer Price Index / Core PPI (8:30 a.m. ET), Philadelphia Fed Manufacturing Index (8:30 a.m. ET), Retail Sales (8:30 a.m. ET), NY Empire State Manufacturing Index (8:30 a.m. ET), Philly Fed Employment (8:30 a.m. ET), Industrial Production (9:15 a.m. ET), Business Inventories (10:00 a.m. ET), Retail Inventories Ex Auto (10:00 a.m. ET), Fed's Balance Sheet (4:30 p.m. ET).

Dick’s Might Buy Foot Locker

Foot Locker $FL ( â–¼ 3.31% ) jumped 69.23% (wow!) in after-hours trading on Wednesday after a report came out saying that Dick's Sporting Goods $DKS ( â–¼ 1.15% ) is nearing a deal to buy its rival.

Details: The report, from the Wall Street Journal, said that Dick’s would buy Foot Locker for $2.3 billion and that a deal could be finalized as soon as Thursday.

Background: Foot Locker has lost about half its value in the last 5 years due to retail struggles. Shares of Dick’s are up 600% during that time.

Final Thoughts: The report caused Dick’s stock to drop 5.78% in after-hours trading.

CoreWeave Stumbles With First Financial Results

Cloud computing company CoreWeave $CRWV ( â–² 6.64% ) fell 7.80% in after-hours trading on Wednesday after posting mixed financial results.

Financials: CoreWeave reported a loss of $1.49 per share in the past quarter, which was lower than expected. Revenue reached $981.63 million, which was better than expected.

Final Thoughts: These were the first results for the company since going public in March.

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.