>>> Cisco beats by $0.02, reports revs in-line; guides Q1 EPS above consensus, r

Cisco beats by $0.02, reports revs in-line; guides Q1 EPS above consensus, revs in-line; guides FY25 EPS in-line, revs in-line; saw steady customer demand (45.44 +0.07)
  • Reports Q4 (Jul) earnings of $0.87 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of $0.85; revenues fell 10.3% year/year to $13.64 bln vs the $13.53 bln FactSet Consensus.
    • Non-GAAP gross margin of 67.9% compared to 66.5-67.5% forecast.
    • Total annualized recurring revenue (ARR) at $29.6 billion, including $4.3 billion from Splunk, up 22% year over year.
    • Co added, "We saw steady customer demand with order growth across the business as customers rely on Cisco to connect and protect all aspects of their organizations in the era of AI."
  • Co issues guidance for Q1 (Oct), sees EPS of $0.86-0.88, excluding non-recurring items, vs. $0.85 FactSet Consensus; sees Q1 revs of $13.65-13.85 bln vs. $13.74 bln FactSet Consensus.
    • Expects non-GAAP gross margin of 67.0-68.0%.
  • Co issues in-line guidance for FY25, sees EPS of $3.52-3.58, excluding non-recurring items, vs. $3.54 FactSet Consensus; sees FY25 revs of $55.0-56.2 bln vs. $55.58 bln FactSet Consensus.

>>> DME Capital (David Einhorn) discloses updated portfolio positions in 13F fil

DME Capital (David Einhorn) discloses updated portfolio positions in 13F filing: Affirms new CPRI holding, new PTON IAC positions, Added to VTRS HPQ ROIV PENN ODP
Highlights from Q2 2024 filing as compared to Q1 2024 (all amounts are approximate):
  • New positions in: PTON (6.79 mln shares), CPRI (confirmed -- 0.68 mln), IAC (0.29 mln)
  • Increased positions in: VTRS (to 7.4 mln shares from 4.52 mln shares), HPQ (to 3.37 mln from 1.62 mln), ROIV (to 4.81 mln from 4.19 mln), PENN (to 5.1 mln from 4.55 mln), ODP (to 2.22 mln from 1.71 mln), GLPG (to 0.23 mln from 0.16 mln)
  • Maintained positions in: GRBK (10.47 mln shares), DHT (4.02 mln shares), BHF (2.97 mln shares), LBTYA (2.04 mln shares), CEIX (1.64 mln shares), SDRL (0.57 mln shares)
  • Closed positions in: NPWR (confirms -- from 1.96 mln shares), KVUE (from 0.71 mln), AER (from 0.32 mln), CLVT (from 0.28 mln), NBSE (from 0.14 mln), FCNCA (confirms --from 0.03 mln)
  • Decreased positions in: KD (to 4.44 mln shares from 6.61 mln shares), LIVN (to 0.64 mln from 1.33 mln), TECK (to 1.09 mln from 1.55 mln), ALIT (to 11.07 mln from 11.53 mln), GPK (to 1.4 mln from 1.8 mln), THC (to 0.6 mln from 0.89 mln), WFRD (to 0.18 mln from 0.32 mln), GLD (to 0.2 mln from 0.25 mln)

>>> Berkshire Hathaway (Warren Buffett) discloses updated portfolio positions in

Berkshire Hathaway (Warren Buffett) discloses updated portfolio positions in 13F filing: New HEIA ULTA positions, Added to SIRI OXY, Exited PARA SNOW
Highlights from Q2 2024 filing as compared to Q1 2024 (all amounts are approximate):
  • New positions in: HEIA (1.04 mln shares), ULTA (0.69 mln)
  • Increased positions in: SIRI (to 132.88 mln shares from 36.68 mln shares), OXY (confirmed -- to 255.28 mln from 248.02 mln), LSXMK (to 70 mln from 65.49 mln), LSXMA (to 35.18 mln from 32.76 mln), CB (to 27.03 mln from 25.92 mln)
  • Maintained positions in: BAC (1032.85 mln shares), KO (400 mln shares), KHC (325.63 mln shares), AXP (151.61 mln shares), C (55.24 mln shares), DVA (confirmed - 36.1 mln shares), MCO (24.67 mln shares)
  • Closed positions in: PARA (from 7.53 mln shares), SNOW (from 6.13 mln)
  • Decreased positions in: AAPL (confirmed -- to 400 mln shares from 789.37 mln shares), CVX (to 118.61 mln from 122.98 mln), COF (to 9.82 mln from 12.47 mln), FND (to 3.98 mln from 4.78 mln), LPX (to 5.96 mln from 6.6 mln), TMUS (to 4.67 mln from 5.24 mln)

>>> Engaged Capital (Glenn W. Welling) discloses updated portfolio positions in

Engaged Capital (Glenn W. Welling) discloses updated portfolio positions in 13F filing: New SMAR position
Highlights from Q2 2024 filing as compared to Q1 2024 (all amounts are approximate):
  • New positions in: SMAR (0.67 mln shares)
  • Increased positions in: EVH (to 4.11 mln shares from 3.26 mln shares), PTLO (to 2.76 mln from 1.99 mln), ENV (to 0.69 mln from 0.12 mln), VYX (to 6.29 mln from 5.84 mln)
  • Maintained positions in: BRCC (12.85 mln shares), VFC (5.34 mln shares), NATL (2.51 mln shares), NVRO (1.89 mln shares)
  • Decreased positions in: SHAK (to 0.27 mln shares from 0.77 mln shares), UPBD (to 1.17 mln from 1.67 mln), PRAA (to 1.7 mln from 1.85 mln)

>>> Pershing Square (Bill Ackman) discloses updated portfolio positions in 13F f

Pershing Square (Bill Ackman) discloses updated portfolio positions in 13F filing: New BN NKE positions
Highlights from Q2 2024 filing as compared to Q1 2024 (all amounts are approximate):
  • New positions in: BN (6.85 mln shares), NKE (3.04 mln)
  • Maintained positions in: HHH (18.85 mln shares).... slightly lowered: QSR (to 23.14 mln from 23.35 mln), CP (to 14.97 mln from 15.1 mln), HLT (to 8.95 mln from 9.18 mln)
  • Decreased positions in: CMG (to 28.82 mln shares from 37.2 mln shares), GOOG (to 7.55 mln from 9.38 mln), GOOGL (to 3.99 mln from 4.35 mln)

>>> Duquesne (Stanley Druckenmiller) discloses updated portfolio positions in 13

Duquesne (Stanley Druckenmiller) discloses updated portfolio positions in 13F filing: New WULF SWTX PM positions
Highlights from Q2 2024 filing as compared to Q1 2024 (all amounts are approximate):
  • New positions in: WULF (2.09 mln shares), SWTX (1.02 mln), PM (0.89 mln), MAA (0.64 mln), YPF (0.64 mln), CPT (0.58 mln), IVVD (0.57 mln), FLUT (0.34 mln), GEV (0.3 mln), EQT (0.12 mln), LYV (103K shares), TPX (103K shares), SE (67K shares), GPCR (38K shares), ADBE (37K shares), MELI (36K shares), BLDR (29K shares), INSM (20K shares)
  • Increased positions in: KMI (to 6.75 mln shares from 3.88 mln shares), OPCH (to 1.87 mln from 0.69 mln), COHR (to 3.59 mln from 2.53 mln), BCS (to 2.08 mln from 1.05 mln), DAKT (to 2.49 mln from 2.07 mln), STX (to 1.76 mln from 1.44 mln), GGAL (to 0.48 mln from 0.32 mln), TLSI (to 0.43 mln from 0.32 mln), ARGT (to 0.28 mln from 0.19 mln)
  • Maintained positions in: ZI (5.88 mln shares), VST (2.63 mln shares), NTRA (1.97 mln shares), WWD (0.95 mln shares)
  • Closed positions in: KEY (from 1.66 mln shares), VRT (from 1 mln), SANA (from 0.98 mln), KBR (from 0.98 mln), GE (from 0.85 mln), CCJ (from 0.85 mln), MRVL (from 0.82 mln), NXE (from 0.71 mln), STLA (from 0.59 mln), CABA (from 0.42 mln)
  • Decreased positions in: CPNG (to 10.97 mln shares from 22.46 mln shares), TECK (to 1.45 mln from 4.55 mln), NWSA (to 0.68 mln from 3.31 mln), FLEX (to 1.45 mln from 3.86 mln), NVDA (to 0.21 mln from 1.76 mln), MSFT (to 0.4 mln from 1.11 mln), CNK (to 0.4 mln from 1.08 mln), DFS (to 0.17 mln from 0.65 mln)

The Verge : Sonos considers relaunching its old app

Sonos considers relaunching its old app
All options are on the table as Sonos continues to navigate a very turbulent moment — and make up for a colossal unforced error.

Sonos has explored the possibility of rereleasing its previous mobile app for Android and iOS — a clear sign of what an ordeal the company’s hurried redesign has become. The Verge can report that there have been discussions high up within Sonos about bringing back the prior version of the app, known as S2, as the company continues toiling away at improving the performance and addressing bugs with the overhauled design that rolled out in May to a flood of negative feedback. (The new Sonos app currently has a 1.3-star review average on Google Play.)
Letting customers fall back to the older software could ease their frustrations and reduce at least some of the pressure on Sonos to rectify every issue with the new app. At least for now, the redesigned version is all that’s available, which makes it impossible for some customers to avoid its flaws. The situation has gotten substantially better with recent updates and the app has turned a corner for many, but there’s still plenty of work to be done.
CEO Patrick Spence has remained insistent that rebuilding the Sonos app from the ground up was the right choice and will make it possible for the company to innovate more frequently and expand into new product categories.
But he has also readily acknowledged that Sonos severely let down its customers. “While the redesign of the app was and remains the right thing to do, our execution — my execution — fell short of the mark,” he said during last week’s earnings call. He went on to say:
The app situation has become a headwind to existing product sales, and we believe our focus needs to be addressing the app ahead of everything else. This means delaying the two major new product releases we had planned for Q4 until our app experience meets the level of quality that we, our customers and our partners expect from Sonos.
One of those two delayed products is the successor to the Sonos Arc soundbar — codenamed Lasso — and sources tell The Verge that Sonos still hopes to release that product sometime in October. (Sonos’ fiscal year ends in late September, so October would bring the company into fiscal year 2025 and line up with Spence’s statement.)
Last week, Spence estimated that righting the ship is likely to cost between $20 and $30 million in the near term as Sonos works to assuage current customers and keep them from abandoning the company’s whole-home audio platform. The new app is being updated every two weeks with improvements, and Spence has said that cadence will continue through the fall. S2’s potential return would not change this. Restoring the old app could prove to be a technical headache since Sonos’ new software shifts a lot of core functionality to the cloud.
This has unquestionably become one of the most turbulent times in Sonos’ history. In the span of just a few months, the company has gone from a well-regarded consumer tech brand to a painful example of what can happen when leadership pushes on new projects too aggressively. Spence himself admitted that the app controversy has completely overshadowed the release of Sonos’ first-ever headphones, the Sonos Ace. Just today, Sonos laid off around 100 employees as the fallout from its rushed app makeover continues.

>> Leon Cooperman discloses updated portfolio positions in 13F filing: New PARA

Leon Cooperman discloses updated portfolio positions in 13F filing: New PARA PNST positions, Added to ET ADT MP FIHL, Exited C
Highlights from Q2 2024 filing as compared to Q1 2024 (all amounts are approximate):
  • New positions in: PARA (1.03 mln shares), PNST (0.07 mln)
  • Increased positions in: ET (to 12.27 mln from 12.06 mln), ADT (to 6.2 mln from 6.15 mln), MP (to 3.43 mln shares from 2.4 mln shares), FIHL (to 2.75 mln from 2.01 mln), FOA (to 6.65 mln from 6 mln), WSC (to 3.61 mln from 2.99 mln), DMAC (to 1.4 mln from 0.88 mln), MIR (to 8 mln from 7.51 mln), PHX (to 0.31 mln from 0.01 mln), STKL (to 5.28 mln from 4.99 mln), KBR (to 0.8 mln from 0.55 mln), LVS (to 1.5 mln from 1.31 mln), MANU (to 2.08 mln from 1.91 mln), RRX (to 0.7 mln from 0.6 mln)
  • Maintained positions in: ABR (2.38 mln shares), DVN (2.2 mln shares), VRT (2.1 mln shares), ASH (0.98 mln shares), EPD (0.92 mln shares), GOOGL (0.65 mln shares), DTM (0.63 mln shares), FI (0.48 mln shares), LAD (0.42 mln shares)
  • Closed positions in: C (from 0.3 mln shares)
  • Decreased positions in: CCAP (to 0.09 mln shares from 0.4 mln shares), COOP (to 2.86 mln from 3.05 mln), MSFT (to 0.11 mln from 0.25 mln), APO (to 1.53 mln from 1.63 mln), OMF (to 0.06 mln from 0.06 mln)