Stocks to Watch: Cisco, BlackBerry, Macy's

NEW YORK -- Cisco Systems ( CSCO) is expected by Wall Street on Wednesday to report fiscal third-quarter earnings of 49 cents a share on revenue of $12.18 billion, which would represent sales growth of 5%.

The networking giant has strung together eight consecutive quarterly earnings beats.

Cisco's Still a Strong Buy Ahead of Earnings

BlackBerry ( BBRY) shares fell almost 4% on Tuesday to $15.25 after the smartphone maker unveiled a new operating system and a new lower-priced handset at its annual conference for investors and developers in Orlando, Fla.

The stock had risen 34% before Tuesday.

BlackBerry also said it would offer its BlackBerry Messenger service on iPhones and devices running Google's ( GOOG) Android software.

BlackBerry Falls on Q5 Smartphone News

Google's annual software developers' conference, dubbed "Google I/O," begins Wednesday in San Francisco, and the Internet giant is expected to showcase the latest mobile devices running on Android, which has been activated on more than 750 million devices around the world.

Google is reportedly expected to unveil an upgrade to the Nexus 7, a mini-tablet that debuted at the event last year.

Samsung Galaxy S4 Review: The Best Android That's Not Nexus

Macy's ( M), the retailer, is expected by analysts to post first-quarter earnings of 53 cents a share on sales of $6.39 billion.

Shares of Myriad Genetics ( MYGN) rose 4% to $34.10 on Tuesday after it was revealed that actress Angelina Jolie recently had a preventative double mastectomy after learning she faced a high risk of breast and ovarian cancer because of an inherited genetic mutation. Myriad makes a BRACAnalysis test that looks for that mutation, and the test is the source of most of the company's revenue.

-- Written by Joseph Woelfel

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