Stocks to Watch: Cisco, AMD, Staples

NEW YORK -- Cisco ( CSCO), the networking giant and Dow component, topped Wall Street's expectations in its latest quarter on both the top and bottom lines.

Cisco reported non-GAAP earnings of $2.57 billion, or 48 cents a share, on revenue of $11.88 billion, up from a year-earlier equivalent profit of $2.32 billion, or 43 cents a share, on revenue of $11.27 billion.

Analysts were looking for earnings of 46 cents per share on revenue of $11.77 billion.

Cisco Earnings: Live Blog Recap

AMD ( AMD) denied Tuesday that it's on the block following a report that the No. 2 chipmaker could be be up for sale.

"AMD's board and management believe that the strategy the company is currently pursuing to drive long-term growth by leveraging AMD's highly-differentiated technology assets is the right approach to enhance shareholder value," wrote an AMD spokesman, in a statement emailed to TheStreet. "AMD is not actively pursuing a sale of the company or significant assets at this time."

Reuters reported on Tuesday that AMD hired JP Morgan Chase to explore options, which could include a sale.

AMD Shoots Down Sale Rumors

Staples ( SPLS) is reporting its third-quarter results before the opening bell Wednesday, and analysts are expecting a profit of 45 cents a share in the October-ended period on revenue of $6.45 billion.

Shares of Staples have declined roughly 11% so far this year.

Wal-Mart, Target, Home Depot Report Earnings This Week

Williams-Sonoma ( WSM) is expected by analysts Wednesday to post third-quarter earnings of 45 cents a share on revenue of $921.8 million.

Abercrombie & Fitch ( ANF) is expected to post third-quarter earnings Wednesday of 58 cents a share.

Earnings are also expected Wednesday from DryShips ( DRYS), FriendFinder Networks ( FFN), Hot Topic ( HOTT), Limited Brands ( LTD), NetApp ( NTAP), PetSmart ( PETM), Retalix ( RTLX), Spectrum Brands ( SPB), Tyco International ( TYC).

-- Written by Joseph Woelfel

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