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RealTime IT News

Cisco Does The Expected

Cisco did what it always does after the close on Tuesday: it beat earnings estimates by a penny.

Cisco's earnings of 19 cents a share beat estimates by a penny, and revenues of $5.62 billion beat $5.55 billion estimates. The company reported "sequential order growth across all major product categories," and said it sees corporate optimism improving.

Cisco raised July quarter revenue guidance to $5.79-5.9 billion, above $5.74 billion estimates, raised full-year guidance, and also announced plans to hire 1,000 workers this year.

Despite all that, CSCO shares lost 2% after hours.

Also after the close, Red Envelope and Sycamore beat estimates.

Tech stocks rose during the day on optimism ahead of Cisco's earnings report, but international tensions restrained blue chips, as oil prices hit a 13-year high.

The Nasdaq gained 35 to 1931, the S&P 500 added 8 to 1095, and the Dow climbed 29 to 10,019. Volume declined to 1.53 billion shares on the NYSE, and 1.66 billion on the Nasdaq. Advancers led 27-6 on the NYSE, and 22-9 on the Nasdaq. Upside volume was 78% on the NYSE, and 87% on the Nasdaq. New highs-new lows were 7-251 on the NYSE, and 22-72 on the Nasdaq.

EDS tumbled 6% on a bleak outlook.

Linktone soared 35% after beating estimates, and Symbol Tech gained 15% on its results.

Data Mirror plunged 21% on a warning.

Entrust gained 9% on a new COO.

Openwave climbed 5% on an acquisition.

Brocade gained 4% on a deal with IBM .

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