Business World
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Asian Shares Mostly Slip Amid Lingering Omicron Worries | Business News

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By YURI KAGEYAMA, AP Business Writer

TOKYO (AP) — Asian shares mostly slipped Wednesday, as worries lingered about the coronavirus omicron variant’s potential damage to the regional economy following mixed cues from Wall Street.

Japan’s benchmark Nikkei 225 lost 0.9% in morning trading to 28,809.86. South Korea’s Kospi slipped 0.9% to 2,993.38, while Australia’s S&P/ASX 200 jumped 1.2% to 7,510.80. Hong Kong’s Hang Seng dropped 0.9% to 23,076.75, and the Shanghai Composite shed 0.8% to 3,601.54.

Although Asia has relatively few reported infection cases of the omicron variant compared to the U.S. and Europe, fears are growing the omicron will spread quickly, once it gets going. The vaccination rate is about 80% in Japan, but booster shots have barely gotten started.

“The wider point is that regardless of how ‘variant risks’ play out, the process of emerging from the COVID tunnel will be fraught with more heat than light,” meaning

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Business Forecast
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Newegg Reaffirms Its Full-Year 2021 Financial Forecast, Opens Limited Trading Window for Restricted Shares

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LOS ANGELES–()–Newegg Commerce, Inc. (NASDAQ: NEGG), a leading tech-focused North American e-retailer, today reaffirmed its previously issued financial forecasts for the fiscal year ending December 31, 2021, as well as the launch of several operating initiatives to better serve its customers, the grant of restricted stock units to key employees, a new employment agreement for its Chief Executive Officer, and the opening of a limited trading window for its restricted shares.

Reaffirms Full-Year 2021 Financial Forecast

Newegg currently expects to have a favorable holiday season with strong financial performance for the fourth quarter of 2021. Newegg reaffirmed its previously announced full-year 2021 guidance, reflecting consistent expectations of demand and profitability relative to its previous guidance. For the full year 2021, Newegg expects to achieve net sales of approximately $2.4 billion (similar to its previously announced guidance of net sales of approximately $2.4 billion) and net

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Business Forecast
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Cisco forecast knocked by supply chain snags, shares fall

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Ken Leon, Center for Financial Research and Analysis research director, argues large-cap high quality growth stocks are driving markets. 

Cisco Systems Inc forecast current-quarter revenue below expectations as supply chain shortages and delays drive up costs.

Shares of the network gear maker fell 6.3% in extended trading after it said it expects second-quarter revenue to grow 4.5% to 6.5% year-over-year, compared with Wall Street expectations of about 7.4%.

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Businesses across the globe are facing an unprecedented semiconductor shortage that has pushed up expenses, hurting companies such as Cisco that use chips in their products.

Cisco Chief Financial Officer Scott Herren told Reuters the company also faces higher transport and logistics costs in its supply chain. Cisco is making progress on pinpointing and resolving component shortages but getting everything to the right place remains a challenge, he said.

APPLE TO LET CUSTOMERS

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Business World
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World Shares Advance on Back of Wall Street Rally | Business News

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By ELAINE KURTENBACH, AP Business Writer

Stocks advanced in Europe and most of Asia on Monday, with Tokyo’s benchmark up 2.6% after the ruling Liberal Democrats won a stronger than expected majority in an election Sunday.

The gains followed further milestones on Wall Street, where the three major indexes set records.

Germany’s DAX rose 0.6% to 15,774.76 and in Paris, the CAC 40 added 0.5% to 6,863.04. Britain’s FTSE 100 gained 0.4% to 7,268.63. The futures for the Dow industrials and the S&P 500 were 0.2% higher.

On Friday, the S&P 500 rose 0.2%; the Dow Jones Industrial Average gained 0.3% and the Nasdaq closed 0.3% higher.

Political Cartoons

Japanese Prime Minister Fumio Kishida’s coalition kept a comfortable majority in Sunday’s parliamentary election despite losing some seats as his weeks-old government grapples with a coronavirus-battered economy and regional security challenges.

“This removes a key political overhang that has been weighing

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