Earnings from Cisco
could play a pivotal role on Wall Street this week, and one analyst thinks investors may hear from HP
sooner than expected.
Cisco is expected to report earnings of 22 cents a share after the close on Tuesday, up from 19 cents in the year-ago quarter. Revenues are expected to rise 9.5% to $6.16 billion. Analysts are also looking for inventories to remain flat or decline in the quarter. For July quarter guidance, analysts are looking for earnings of 24 cents a share on revenues of $6.5 billion.
Dell will report its quarterly results after the close on Thursday, and the company said last month that it expects to meet estimates of 37-cent a share earnings and $13.4 billion revenues. Looking ahead, analysts expect 38-cent earnings on $13.64 billion in sales for the July quarter.
HP isn’t expected to report until next Tuesday, but Bank of America said Monday the company may warn this week that its results won’t meet estimates due to weaker than expected enterprise sales. Shares of HP lost 1% Monday.
The broader market rose Monday despite another rise in oil prices, as investors were reassured by GM’s
plan to maintain its dividend and strong results from McDonald’s
The Nasdaq rose 12 to 1979, the S&P 500 gained 7 to 1178, and the Dow climbed 38 to 10,384. Volume rose to 1.84 billion shares on the NYSE, but declined to 1.51 billion on the Nasdaq. Advancers led 22-10 on the NYSE, and 19-11 on the Nasdaq. Upside volume was 78% on the NYSE, and 64% on the Nasdaq. New highs-new lows were 102-29 on the NYSE, and 52-75 on the Nasdaq.
After the close, Priceline
missed sales estimates. Audible
beat forecasts, and Cray
said it may get de-listed from the Nasdaq.
During the day, Ameritrade
soared 18% on reports that E*Trade
is offering $5.5 billion for the company.
surged 13% on a positive write-up in Barron’s.
rose 7% on reports of an investment from Internet billionaire Mark Cuban.
tumbled on their results.