Stocks to Watch: Cisco, AMD, Staples
NEW YORK -- Cisco(CSCO) , the networking giant and Dow component, topped Wall Street's expectations in its latest quarter on both the top and bottom lines.
Cisco reported non-GAAP earnings of $2.57 billion, or 48 cents a share, on revenue of $11.88 billion, up from a year-earlier equivalent profit of $2.32 billion, or 43 cents a share, on revenue of $11.27 billion.
Analysts were looking for earnings of 46 cents per share on revenue of $11.77 billion.
AMD(AMD) denied Tuesday that it's on the block following a report that the No. 2 chipmaker could be be up for sale.
"AMD's board and management believe that the strategy the company is currently pursuing to drive long-term growth by leveraging AMD's highly-differentiated technology assets is the right approach to enhance shareholder value," wrote an AMD spokesman, in a statement emailed to TheStreet. "AMD is not actively pursuing a sale of the company or significant assets at this time."
Reuters reported on Tuesday that AMD hired JP Morgan Chase to explore options, which could include a sale.
Staples(SPLS) is reporting its third-quarter results before the opening bell Wednesday, and analysts are expecting a profit of 45 cents a share in the October-ended period on revenue of $6.45 billion.
Shares of Staples have declined roughly 11% so far this year.
Williams-Sonoma(WSM) is expected by analysts Wednesday to post third-quarter earnings of 45 cents a share on revenue of $921.8 million.
Abercrombie & Fitch(ANF) is expected to post third-quarter earnings Wednesday of 58 cents a share.
Earnings are also expected Wednesday from DryShips(DRYS) , FriendFinder Networks(FFN) , Hot Topic(HOTT) , Limited Brands(LTD) , NetApp(NTAP) , PetSmart(PETM) , Retalix(RTLX) , Spectrum Brands(SPB) , Tyco International(TYC) .
-- Written by Joseph Woelfel
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