Stocks to Watch: Lowe's, Cisco (Update 1)
NEW YORK -- Lowe's(LOW) , the home-improvement retailer, posted third-quarter results that exceeded forecasts as same-store sales for the period rose 1.8%.
Adjusted earnings were 40 cents a share on revenue of $12.07 billion; analysts on average were expecting earnings of 35 cents a share in the third quarter on revenue of $11.91 billion.
Lowe's shares were rising 3.9% in premarket trading Monday to $33.21.
Cisco Systems(CSCO) , the networking giant, announced Sunday it was buying cloud computing company Meraki for $1.2 billion.
Meraki, based in San Francisco, will form Cisco's new Cloud Networking group, which will be led by Meraki CEO Sanjit Biswas.
Cisco shares were rising 1.3% to $18.22 in premarket trading.
Retailer Urban Outfitters (URBN) is expected to earn 41 cents a share in the third quarter on revenue of $692.4 million.
Tyson Foods (TSN) posted fiscal fourth-quarter adjusted earnings of 55 cents a share on sales of $8.37 billion. analysts forecast earnings of 44 cents a share on sales of $8.49 billion.
News Corp(NWSA) is expected to announce this week that it will acquire a 49% in the YES Network from the New York Yankees and its partners, according to Reuters, which cited a person with knowledge of the talks.
The deal would would value the sports channel at $3 billion, Reuters said.
-- Written by Joseph Woelfel
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