Publish date:

Tuesday: Cisco Lower; Apple's New Plans

Two down, three to go and the best yet to come.

Wednesday, the


big powwow comes to an end. Most economists expect no change in rates. Later in the week, a crucial monthly jobs report has traders wringing their hands. In between, a bunch of earnings announcements.

Here's a little of what happened after the bell stopped ringing.

Cisco Systems

(CSCO:Nasdaq) slipped 2 1/8 to 65 in after-hours trading after reporting earnings of 51 cents per share. That was a penny shy of the whisper figure of 52 cents. Meanwhile, company executives kept a low profile at the


trade show in Washington,

as reported in

The Street


Apple Computer

(AAPL:Nasdaq) announced its second major restructuring in a year. Included: New jobs for Apple co-founders Steve Jobs and Steve Wozniak and no jobs for an undisclosed number of the currently employed.


(IDEA:Nasdaq) will acquire Medicine Lodge. Medicine Lodge makes implantable medical devices. No price was announced.

U.S. Surgical

(USS:NYSE) announced it would double its quarterly dividend to 4 cents.

TheStreet Recommends


(CHIR:Nasdaq) announced earnings of 9 cents per share, down from 10 cents a year earlier. The company blamed the figure on slumping sales of its multiple sclerosis treatment.


(EZPW:Nasdaq) announced first-quarter earnings of 16 cents per share, up from 7 cents per share a year earlier. The company operates 246 pawn shops in 12 states. They'll probably be getting some new customers courtesy of Apple.

And don't forget to grab your chips and dip. The president makes his State of the Union address Tuesday evening before Congress and assorted other guests.

On the earnings board for Wednesday:


(AET:NYSE) announces fourth-quarter earnings,

First Call

estimates earnings per share of 85 cents;

Goodyear Tire

(GT:NYSE), $1.05;

Northrop Grumman

(NOC:NYSE), $1.17; and

St. Jude Medical

(STJ:NYSE), 48 cents.

By Andrew Morse