Tuesday May 6, 04:06 PM
Cisco slips for second session ahead of 3Q results
NEW YORK (Thomson Financial) - Shares of Cisco Systems Inc (NASDAQ: CSCO - news) . slumped Tuesday for a second session ahead of the release
of fiscal third-quarter results after the closing bell.
The stock was down 1.2% at $25.93 after shedding 1.8% on Monday. On Friday, the stock had closed at a four-month high of $26.75.
The mean estimates of analysts surveyed by Thomson Reuters (TRI.TO - news) are for the networking company to report earnings of 36 cents a share and revenue of $9.75 billion. Cisco met earnings expectations in the previous quarter, after beating forecasts the previous 7 sessions.
One week after meeting expectations for the fiscal second quarter, the stock was 4.3% higher, while one week after beating expectations in the fiscal first quarter, the stock was 12% lower.
Tomi Kilgore
tk1
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