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Stocks to Watch: Lowe's, Cisco (Update 1)

NEW YORK -- Lowe's (LOW - Get Report), the home-improvement retailer, posted third-quarter results that exceeded forecasts as same-store sales for the period rose 1.8%.

Adjusted earnings were 40 cents a share on revenue of $12.07 billion; analysts on average were expecting earnings of 35 cents a share in the third quarter on revenue of $11.91 billion.

Lowe's shares were rising 3.9% in premarket trading Monday to $33.21.

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Cisco Systems (CSCO - Get Report), the networking giant, announced Sunday it was buying cloud computing company Meraki for $1.2 billion.

Meraki, based in San Francisco, will form Cisco's new Cloud Networking group, which will be led by Meraki CEO Sanjit Biswas.

Cisco shares were rising 1.3% to $18.22 in premarket trading.

Retailer Urban Outfitters (URBN - Get Report) is expected to earn 41 cents a share in the third quarter on revenue of $692.4 million.

Clues to E-Commerce Success

Tyson Foods (TSN - Get Report) posted fiscal fourth-quarter adjusted earnings of 55 cents a share on sales of $8.37 billion. analysts forecast earnings of 44 cents a share on sales of $8.49 billion.

Earnings are also expected Monday from Jack in the Box (JACK), Krispy Kreme (KKD), Agilent (A)and Brocade (BRCD).

BioMimetic Therapeutics (BMTI)shares rose 82% to $7.57 after it announced Monday an agreement to combine its business with Wright Medical (WMGI).

News Corp (NWSA) is expected to announce this week that it will acquire a 49% in the YES Network from the New York Yankees and its partners, according to Reuters, which cited a person with knowledge of the talks.

The deal would would value the sports channel at $3 billion, Reuters said.

An Assault on Yield-Oriented ETFs

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to:
Copyright 2012 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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CSCO $26.51 0.26%
LOW $75.35 -0.63%
TSN $66.64 -0.08%
URBN $28.09 -3.50%
AAPL $93.22 -0.43%


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