Stocks to Watch: Lowe's, Cisco (Update 1)

NEW YORK -- Lowe's ( LOW), the home-improvement retailer, posted third-quarter results that exceeded forecasts as same-store sales for the period rose 1.8%.

Adjusted earnings were 40 cents a share on revenue of $12.07 billion; analysts on average were expecting earnings of 35 cents a share in the third quarter on revenue of $11.91 billion.

Lowe's shares were rising 3.9% in premarket trading Monday to $33.21.

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Cisco Systems ( CSCO), the networking giant, announced Sunday it was buying cloud computing company Meraki for $1.2 billion.

Meraki, based in San Francisco, will form Cisco's new Cloud Networking group, which will be led by Meraki CEO Sanjit Biswas.

Cisco shares were rising 1.3% to $18.22 in premarket trading.


Retailer Urban Outfitters ( URBN) is expected to earn 41 cents a share in the third quarter on revenue of $692.4 million.

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Tyson Foods ( TSN) posted fiscal fourth-quarter adjusted earnings of 55 cents a share on sales of $8.37 billion. analysts forecast earnings of 44 cents a share on sales of $8.49 billion.


Earnings are also expected Monday from Jack in the Box ( JACK), Krispy Kreme ( KKD), Agilent ( A)and Brocade ( BRCD).


BioMimetic Therapeutics ( BMTI)shares rose 82% to $7.57 after it announced Monday an agreement to combine its business with Wright Medical ( WMGI).


News Corp ( NWSA) is expected to announce this week that it will acquire a 49% in the YES Network from the New York Yankees and its partners, according to Reuters, which cited a person with knowledge of the talks.

The deal would would value the sports channel at $3 billion, Reuters said.

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-- Written by Joseph Woelfel

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