Stocks to Watch: Cisco, Kohl's, Priceline (Update 1)
NEW YORK -- Cisco(CSCO) provided disappointing guidance for its fiscal fourth quarter.
The networking giant forecast earnings of 44 cents to 46 cents a share for the July-ending quarter with year-over-year revenue growth anticipated at 2% to 5%.
Analysts were calling for a profit of 49 cents a share in the fourth quarter on revenue of $11.99 billion.
For the third quarter, Cisco, a component of the Dow Jones Industrial Average posted revenue of $11.59 billion, up from $10.87 billion a year earlier, and a tick above analysts' estimates of $11.58 billion.
Excluding items, Cisco earned 48 cents a share, up from 42 cents a share in the same period last year. Analysts swere looking for earnings of 47 cents.
Shares of Cisco fell 7.93% in premarket trading Thursday to $17.29.
Retailer Kohl's(KSS) reported Thursday first-quarter net income of $154 million, or 63 cents a share, down from year-earlier earnings of $201 million, or 69 cents a share.
On average, analysts expected the company to report first-quarter profit of 61 cents a share on revenue of $4.25 billion.
Kohl's provided second-quarter earnings guidance of between 96 cents to $1.02 a share. The retailer maintained its full-year guidance of $4.75 a share.
Shares of Kohl's fell 1.49% in premarket trading Thursday to $50.10.
Priceline.com(PCLN) , the online travel reservation company, reported mixed quarterly results on Wednesday and provided soft guidance.
Priceline earned $4.28 a share in the quarter, topping analysts' estimates of $3.95 a share, but revenue of $1.037 billion was shy of expectations.
For the second quarter ending in June, Priceline forecast non-GAAP earnings of $7.20 to $7.40 a share; analysts are calling for profit of $7.37 a share.