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Cisco Eases 4% After Morgan Stanley Cuts Revenue Estimates
Christopher Stix has some lingering doubts about Cisco(CSCO Quote).
The Morgan Stanley Dean Witter analyst cut his near-term estimates on the networking giant this morning. The company will likely earn two cents a share for the fourth quarter, the analyst said, less than his previous estimate of four cents. The Thomson Financial/First Call estimate currently stands at two cents a share.
The shift in earnings expectations is a result of lowered revenue forecasts by Stix, who now sees an 8% sequential decline in revenue, towards the low end of Cisco's flat to down 10% revenue guidance. Stix predicted a range of anywhere from a 3% decline to a 14% decline in sequential revenues. ...
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