Spotlight On Cisco
Stocks are looking at a flat to negative open Tuesday, as traders await
earnings numbers and guidance from Cisco Systems which are due out after the
closing bell.
The Nasdaq futures are up 4.50 points, and the Dow futures are down 32
points.
The S&Ps look to open down 1.30 points while the yield on the 10-year
Treasury is holding at 5.17%.
Looking ahead in economic news, the fourth quarter productivity report will
be released Wednesday at 8:30 AM ET.
Tuesday Movers
Ahead of a much anticipated earnings report, Cisco Systems
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trading up slightly in pre-market activity. Cisco is expected to post earnings
of 19 cents per share. The stock is currently trading up to 34 7/8 in pre-market
activity following Monday’s close of 34 9/16.
San Diego, Calif.-based optical product maker Advanced Micro Circuits
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offered some downward guidance Monday, and that is impacting the stock in early
Tuesday trade. AMCC closed Monday down 1 3/8 to 64 3/8 and is currently trading
down to 57 in pre-market activity.
Optical networker JDS Uniphase
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Department clearance for its proposed merger with SDL Inc.
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has both stocks edging higher. After a close of 50, JDSU is trading up to 51
3/4, and SDLI has jumped up to 195 3/8 following Monday’s 185 3/8 close.
In earnings news, Disney
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recent quarter. topping First Call/Thomson Financial estimates by a penny.
Disney’s earnings would have been 28 cents per share were it not for big losses
incurred in its beleaguered Internet unit. Despite Disney’s dismal Internet
performance, there are analysts who still feel Disney should make a bid for
portal giant Yahoo!
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PowerRating). Disney closed Monday down .32 to 30.43.