shares jumped more than 14% on Wednesday after the company said revenue growth for fiscal 2007 would be better than expected.
For its fourth quarter, the San Jose, Calif., networking firm earned $1.54 billion, or 25 cents a share, for the quarter ended July 29. That includes 2 cents a share worth of stock-compensation expense and compares with the year-ago $1.54 billion, or 24 cents a share.
Excluding certain costs, latest-quarter earnings were 30 cents a share.
Revenue grew to $7.98 billion in the latest quarter from $6.6 billion a year earlier. The acquisition of cable set-top boxmaker
contributed $582 million to latest-quarter sales.
Analysts surveyed by Thomson First Call were looking for a 28-cent profit on sales of $7.92 billion.
On a post-close conference call, Cisco CEO John Chambers said fiscal 2007 revenue growth should range from 15% to 20%, above the 15.5% Wall Street estimate.
Video technology strength from Scientific-Atlanta has changed Cisco's role to a "strategic business-partner relationship," Chambers said. Cisco is helping cable and phone companies design their networks, he added.
Recently, Cisco added $2.53 to $19.82.
The bullish forecast helped
move higher. The stock was recently trading at $3.68, after tacking on 19 cents, or 5.4%
On Tuesday, Ciena also resolved a patent lawsuit with
( NT). As part of the settlement, the companies agreed to enter into a long-term patent cross-license agreement.
Cisco's rise also buoyed
, which added 7.3%, or $1.74, to its $25.68.
Adding oomph to Broadcom's push was an analyst upgrade. On Wednesday, Caris raised its rating on the semiconductor stock to buy from above average.
rebounded a little after plunging 18.4% on Tuesday after announcing it will acquire
( MCDTA) for $713 million in stock.
Brocade shares added 3.6%, or 18 cents, to $5.19 in recent trading.
Brocade CEO Michael Klayko said the merger "will accelerate the pace of innovation, enable us to build stronger relationships with our customers and partners, and provide greater scale and efficiencies to accelerate our growth. We believe this is a strategic combination that will benefit our customers and create value for our combined stockholders."
headed south after the company posted uninspiring second-quarter earnings results and guidance on Tuesday after the bell.
For the quarter, the rural and suburban wireless communications provider posted a loss of $6 million, or 5 cents a share, compared with a $10 million loss, or 9 cents a share, in the year-ago quarter. Analysts had forecast a loss of 2 cents a share.
Revenue was $312.1 million, up from $297.7 million in the same period a year ago. That was better than the consensus estimate of $307.9 million for the quarter.
The Oklahoma City, Okla.-based company lowered its full-year average-revenue-per-unit guidance to a range of $48 to $48.50. Growth in gross subscribers for 2006 will also be lower, between 4% to 7%, vs. the previous forecast of 10% to 12%.
Dobson shares fell 8.1%, or 56 cents, to $6.40.
The bulk of big tech stocks moved higher on Wednesday including
, up 19 cents to $24.53;
, adding 37 cents to $17.73;
, up 39 cents to $15.19;
up 5 cents to $64.83;
, up 4 cents to $4.48;
up 72 cents to $34.58;
Sirius Satellite Radio
, adding 6 cents to $3.93;
adding 13 cents to $2.24;
adding 35 cents to $5.47;
, up 32 cents to $3; and
, down 20 cents to $21.39.