Apple, Netflix, Cisco: Tech Winners & Losers
NEW YORK (TheStreet) -- Shares of Apple (AAPL) and Netflix (NFLX) edged up on Tuesday as investors await the companies' second-quarter earnings posted after closing bell.
Apple (AAPL) climbed 0.37% to $606.13 on analysts' strong forecasts. Analysts polled by Thomson Reuters expect Apple to generate earnings of $10.37 per share on $37.21 billion in revenue in the second-quarter.
Shares of Netflix (NFLX) rose 2.75% to $82.14 ahead of earnings. Analysts surveyed by Thomson Reuters estimate that the Los Gatos, Calif.-based company will report 5 cents of earnings on $888.90 million in revenue for the quarter.
Cisco (CSCO) tumbled 4.82% to $15.30 a day after the company announced plans to cut 2% of its workforce, in the latest phase of its long-running restructuring effort. "We are performing a focused set of limited restructurings that will collectively impact approximately 2% of our global employee population," explained a Cisco spokesperson, in a statement emailed to TheStreet on Monday. "These actions, subject to local legal requirements, including consultation where required, are part of a continuous process of simplifying the company, as well as assessing the economic environment in certain parts of the world." --Written by Nathalie Pierrepont in New York. >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. >Contact by Email. Follow @nrpierrepontSelect the service that is right for you!
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