Diamonds and Dogs
Live Nation (LYV) is jamming as live event demand is booming. The stock is up 5% as demand for live events is still booming. Citing high demand, the company also raised its full-year revenue guidance by $10 million, projecting 2022 full-year revenue of between $520-$555 million.
Cisco (CSCO) latest tech to take a hit. Cisco is down 13% following earnings and lower guidance. The company said two issues triggered the revenue shortfall. The first was the company's decision to stop selling products in Russia and Belarus due to the war in Ukraine. That resulted in a $200 million hit to the top-line . The second and bigger issue involves Covid-19 shutdowns of manufacturing and transportation in China, particularly around Shanghai.
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