3. Cisco comes through
Computer networking company Cisco's stock got a decent bump in off-hours trade after a strong earnings report. The company beat on the top and bottom lines, while also raising its forecast for the year. Cisco also said some of its logistics costs came down. Demand is also stable, according to Cisco, even as other tech companies contend with sliding demand for computers and pressures from a slumping ad market. But the company also reported some difficulties. For instance, its hardware and software backlogs are still much higher than usual, and it's due to limited supply availability, according to CFO Scott Herren.
4. Here's who helped SBF get out on bail
Indicted FTX founder Sam Bankman-Fried secured his release on bond with the help of two academics at Stanford University. One of them, Stanford Law School dean emeritus Larry Kramer, said he's close with SBF's mother and father, who are professors at the law school. "Joe Bankman and Barbara Fried have been close friends of my wife and I since the mid-1990s," Kramer told CNBC. Andreas Paepcke, a research scientist at the school was the other guarantor whose name was under seal until a federal judge decided otherwise, following a motion by several media outlets, including CNBC. Paepcke didn't respond to a request for comment. SBF, who has been charged with sweeping fraud and conspiracy counts, was released on a $250 million bond in December. His parents also signed on as guarantors.
5. Sanders vs. Schultz
Howard Schultz will soon step down as Starbucks CEO – for the third time – but Sen. Bernie Sanders wants to haul him in front of lawmakers anyway after the executive turned down an invitation to testify next month. While Sanders didn't outright say he would try to subpoena Schultz, he hinted that it could be in the works. "One way or another, he will be there," the senator told reporters Wednesday. Sanders, a self-described democratic socialist who favors unions, chairs the Senate's Health, Education, Labor and Pensions Committee. The panel has scheduled a March 9 hearing on Starbucks' labor practices. Schultz, who's also a big shareholder in the coffee giant, has been leading Starbucks' efforts to counter a unionization push among its baristas, even as the company touts progressive initiatives.
— CNBC's Mike Calia wrote this newsletter. Sarah Min, Michael Wayland, Jordan Novet, Rohan Goswami and Amelia Lucas contributed.
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