Cisco reported first-quarter revenue of $11.88 billion and earnings of 48 cents a share, up from $11.27 billion and 43 cents a share in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for sales of $11.77 billion and earnings of 46 cents a share.
For its second quarter, Cisco predicted revenue between $11.9 billion and $12.1 billion and earnings of 47 cents to 48 cents a share. Analysts had projected revenue of $12.02 billion and earnings of 47 cents a share.Cisco shares rose 7.36% to $18.09 in premarket trading on Wednesday. AMD (AMD) shares fell 1.91% to $2.05 in premarket trading after the No. 2 chipmaker denied a rumor that it could be up for sale. On Tuesday, Reuters reported that the Austin-based firm has hired JP Morgan Chase to explore options, which could include a sale. The report helped drive AMD shares higher during Tuesday's trading, ending the day up 5.03%. Shares of Zynga (ZNGA), which announced the departure of its Chief Financial Officer late on Tuesday, rose 1.42% to $2.14 before market open. Wehner left Zynga on Tuesday to pursue "a senior finance position" at Facebook (FB), the company said. "Dave remains a good friend to us all and we wish him success in his next role," said Zynga CEO Mark Pincus, in a statement. Mark Vranesh, Zynga's chief accounting officer, has replaced Wehner, one of a number of executive changes announced by the San Francisco-based company. Zynga also reaffirmed its 2012 financial outlook. Facebook shares slipped 0.91% to $19.68 in premarket trading. Apple (AAPL) was a modest gainer before market open, rising 0.24% to $544.21. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV