Analysts were busy raising their ratings and estimates on
Tuesday morning, a day after the networker beat Wall Street's targets for the fiscal first quarter. For the quarter, the company earned 4 cents a share on revenue of $4.45 billion. Analysts expected Cisco to make 2 cents a share, down from 18 cents last year, on revenue of $4.19 billion, down from $6.5 billion a year earlier. For the fourth quarter ended in July, Cisco earned 2 cents a share on revenue of $4.3 billion. Cisco declined to offer detailed financial guidance for coming periods, saying it would see slight sequential improvement in the second quarter, including a single-digit revenue gain.
Earnings Reports & Warnings
posted fourth-quarter earnings of 67 cents a share, excluding goodwill amortization. Analysts expected earnings of 58 cents. Revenue fell 12.6% to $3.55 billion. The company's management also recommended to the board that the directors approve an increase in the stock dividend.
reported third-quarter earnings of 30 cents a share, meeting the First Call consensus estimate. The company expects operating earnings of 58 cents to 60 cents in the fourth quarter. Analysts are calling for 58 cents.
reported third-quarter earnings of 85 cents a share, a nickel better than estimates. Revenue rose to $1.09 billion. The company's board also authorized an increase in Oxford's existing share repurchase program.
expects to meet its 2001 earnings targets despite adverse economic conditions, according to comments the chief financial officer delivered at an investment conference. The company expects earnings per share to grow 9% in 2001, according to reports.
reported flat same-store sales for October. Total sales declined 2%.
said October same-store sales increased 8%. Pharmacy same-store sales were up 11.7%.
will launch concurrent offerings of common stock and equity security units worth $1.2 billion next week. The proceeds will be used to reduce debt and for general corporate purposes. The company has already filed a shelf registration with the
Securities and Exchange Commission
covering $2 billion of securities.
signed a deal with America Online, a division of
AOL Time Warner
, to develop and market Web and wireless services. In addition, America Online will make a minority investment in Aether Systems, but details weren't disclosed.
declared a 3-for-2 stock split, payable Nov. 30 to shareholders of record Nov. 16. Stock splits do nothing to affect the market capitalization of a company, but investors love them, often bidding up the issue after such a plan is disclosed.
received three U.S. patents on a gene expression technology that enhances the production of recombinant proteins.
said the Securities and Exchange Commission is conducting an investigation intotrading in the company's stock by Roland Thibodeau, a former vice president, after he retired in September 2000. JNI, a data storage company, said it has no reason to believe that the investigation will lead to any action against the company. JNI also said it has been cooperating with the SEC. According to a
report, securities regulators said Thibodeau hasn't complied with an Aug. 2 subpoena requesting documents and testimony.
plans to produce two new safety envelopes. One will have an extra window at the bottom to show any foreign objects, and the other will be a tamper-evident envelope that indicates if it has been opened prior to delivery.
After Monday's Close
, which owns job-hunting Web site Monster.com, topped third-quarter earnings estimates by a penny, with a bottom line of 35 cents a share, excluding items. Total commissions and fees for the quarter fell 5% to $361.2 million from $381.1 million in the same period a year ago.