Stocks to Watch: Cisco, AMD, Staples

NEW YORK -- Cisco (CSCO), the networking giant and Dow component, topped Wall Street's expectations in its latest quarter on both the top and bottom lines.

Cisco reported non-GAAP earnings of $2.57 billion, or 48 cents a share, on revenue of $11.88 billion, up from a year-earlier equivalent profit of $2.32 billion, or 43 cents a share, on revenue of $11.27 billion.

Analysts were looking for earnings of 46 cents per share on revenue of $11.77 billion.

Cisco Earnings: Live Blog Recap

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AMD (AMD) denied Tuesday that it's on the block following a report that the No. 2 chipmaker could be be up for sale.

"AMD's board and management believe that the strategy the company is currently pursuing to drive long-term growth by leveraging AMD's highly-differentiated technology assets is the right approach to enhance shareholder value," wrote an AMD spokesman, in a statement emailed to TheStreet. "AMD is not actively pursuing a sale of the company or significant assets at this time."

Reuters reported on Tuesday that AMD hired JP Morgan Chase to explore options, which could include a sale.

AMD Shoots Down Sale Rumors

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Staples (SPLS) is reporting its third-quarter results before the opening bell Wednesday, and analysts are expecting a profit of 45 cents a share in the October-ended period on revenue of $6.45 billion.

Shares of Staples have declined roughly 11% so far this year.

Wal-Mart, Target, Home Depot Report Earnings This Week

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Williams-Sonoma (WSM) is expected by analysts Wednesday to post third-quarter earnings of 45 cents a share on revenue of $921.8 million.

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Abercrombie & Fitch (ANF) is expected to post third-quarter earnings Wednesday of 58 cents a share.

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Earnings are also expected Wednesday from DryShips (DRYS), FriendFinder Networks (FFN), Hot Topic (HOTT), Limited Brands (LTD), NetApp (NTAP), PetSmart (PETM), Retalix (RTLX), Spectrum Brands (SPB), Tyco International (TYC).

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-- Written by Joseph Woelfel



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