OptionsHouse

Options Trading News

August 15, 2013  Thu 7:32 AM CT

CSCO: SEE CHART GET CHAIN FIND STRATEGIES

Cisco to Lay Off 4,000 as Margins Shrink

The networking giant reported adjusted earnings of $0.52 per share on revenues of $12.42 billion in its quarterly report after yesterday's close, above the consensus estimates of $0.51 EPS on revenues of $12.41 billion. But the technology stalwart's shares fell after issuing earnings guidance of $0.50 to $0.51 per share on revenue growth of 3 percent to 5 percent for the current quarter, at the low end of forecasts. The company, also reported that gross margins slipped to 59.2 percent from 60.6 percent, is laying off about 5 percent of its workforce. CSCO is down more than 8 percent to $24.24 in the pre-market.

Wal-Mart Cuts Guidance as Sales Fall Short

The retail behemoth this morning reported second-quarter adjusted earnings of $1.25 per share, matching market expectations, but same-store sales fell 0.3 percent compared to the consensus forecast for a 0.7 percent gain. Wal-Mart also lowered its full-year outlook to $5.10 to $5.30 EPS, compared with previous estimates of $5.29 to $5.40 earnings per share. WMT is down about 2.3 percent to $74.65 this morning on my tradeMONSTER extended-hours platform.
Share this article with your friends


Related Stories

CSCO

Cisco receives a big vote of confidence

April 6, 2016

The networking giant, which reported bullish results on Feb. 10 and has risen 4 percent in the last three months, was upgraded by JP Morgan yesterday.

OptionsHouse

Premium Services

Education & Strategy

Market Level Making You Nervous, Huh? Part 3

In last week's article, we discussed how important the extra cash you save by using the Stock Replacement Strategy over buying the actual stock is! That extra cash in our account instead of being unnecessarily tied up in a stock position allows us to buy the puts we would need to protect our downside in the case of a major sell-off.

View more education articles »