Ciscowill report quarterly results late Tuesday, and analysts expect another solid quarter from the networking giant.
Wall Street analysts are expecting earnings of 31 cents a share on sales of $8.28 billion, up 25% from the year-ago quarter, according to Thomson Financial, and many expect Cisco to beat the published estimates.
But with the stock up about 60% in the last six months, it’s not clear how much higher Cisco shares can go for now. The stock fell sharply in mid-January on multiple valuation downgrades, but has recouped half those losses in the last week as traders have begun to anticipate positive results.
Cisco shares gained 1.4% on Monday.
Stocks traded mixed Monday, with blue chips edging higher on Wal-Mart’sresults and tech stocks weighed down by a negative Barron’s write-up on Microsoft.
KLA-Tencor, Cognizantand Novatelgained on their results.
Rambussurged 24% on an FTC licensing ruling that was better than feared.
NetRatingssoared on an acquisition by Nielsen.
Googleinvestors continued to take profits.
After the close, National Semislipped after lowering guidance.
The Nasdaq lost 5 to 2470, the S&P 500 slipped 1 to 1447, and the Dow added 8 to 12,661. Volume declined to 2.48 billion shares on the NYSE, and rose to 1.97 billion on the Nasdaq. Decliners led 17-15 on the NYSE, and 17-13 on the Nasdaq. Upside volume was 51% on the NYSE, and 49% on the Nasdaq. New highs-new lows were 299-12 on the NYSE, and 188-41 on the Nasdaq.