Cisco Systems ( CSCO) reported a higher-than-expected earnings and revenue for the fiscal third quarter on Wednesday. The computer-networking equipment maker reported adjusted earnings of 51 cents a share on revenue of $12.2 billion, beating analysts' estimates of 49 cents a share on revenue of $12.18 billion. Shares of Cisco surged 12% Thursday morning on the results. Cisco forecast current-quarter earnings per share of 50 to 52 cents excluding items, in line with expectations. The company expects revenue to grow 4% to 7% from the same quarter a year ago. CEO John Chambers said, "We are managing the business to account for a continued slow steady recovery on a global basis."
Google ( GOOG) Wallet is integrating with Gmail to allow users to send money through emails. Gmail users can now attach a payment to an email, much as they would attach a document, but they must be signed up for Google Wallet in order to do so. Users can send money via debit or credit cards or directly from a bank account. If a user links a bank account to Google Wallet, transactions are free. Using a debit or credit card will add a 2.9% transaction fee.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.