Stocks to Watch: Cisco, Target, JDS Uniphase
NEW YORK -- Cisco (CSCO) is expected to report fiscal fourth-quarter results after Wednesday's closing bell and analysts are calling for the networking equipment giant and Dow component to post earnings of 45 cents a share on revenue of $11.6 billion.
Cisco continues to work through a massive restructuring, announcing late last month another round of layoffs, cutting 1,300 jobs, or 2% of its work force.
Cisco shares are down 5% so far in 2012.
TheStreet will be live-blogging Cisco's results Wednesday at 3:45 p.m. EDT.
Retailer Target (TGT) is expected by analysts Wednesday to report quarterly earnings of $1.01 a share in the July-ended period on revenue of $16.75 billion. 10 Best Back-to-School Apps
JDS Uniphase (JDSU), the optical networker, reported fiscal fourth-quarter non-GAAP earnings of $35.3 million, or 15 cents a share, on revenue of $439.3 million. Analysts forecast a profit of 12 cents a share in the June-ended period on revenue of $422.6 million. The company also forecast non-GAAP revenue of $415 million to $435 million for its fiscal first quarter ending in September; analysts are looking for $427.1 million.
Warren Buffett's Berkshire Hathaway (BRK.A) revealed in a 13-F filing it sold a stake in Intel (INTC), added to positions Wells Fargo (WFC) and Bank of New York Mellon (BNY) and sold off significant portions of positions in United Parcel Service (UPS) and Visa (V). Berkshire Hathaway also bought shares of Phillips 66 (PSX) and National Oilwell Varco (NOV) in the second quarter. Buffett Hoards Cash Over Next Big Investment
New York Times (NYT) named Mark Thompson as its next president and CEO. Thompson most recently served as director general of the British Broadcasting Corp. He is expected to start at the New York Times in November.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel
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