Stocks to watch: Cisco, Green Mountain
Shares of the Dow component jump on better-than-expected earnings. The coffee producer plunges after sales fall short of forecasts.
By Andrea Tse, TheStreet
Updated at 9 a.m. ET
Cisco Systems' (CSCO) fiscal-first-quarter results beat Wall Street's expectations, even though the Dow component's adjusted profit declined from a year earlier amid sluggish corporate spending. The tech bellwether posted a profit of $2.3 billion, or 43 cents per share, excluding certain items. That’s down from $2.4 billion, or 42 cents, a year earlier. Revenue rose 4.7% year over year to $11.3 billion. Analysts surveyed by Thomson Reuters had forecast earnings of 39 cents and revenue of $11.03 billion.
Green Mountain Coffee Roasters (GMCR) missed Wall Street's revenue expectations by a wide margin with its fiscal-fourth-quarter results. While sales rose 90% from a year earlier to $711.9 million, the total was 6% less than the $760.5 million analysts had expected.
Business software maker Pegasystems (PEGA) reported third-quarter adjusted earnings that fell short of Wall Street forecasts. The company posted a profit of $6 million, or 15 cents a share, excluding certain items. Revenue rose 6% to $95.5 million. Analysts had expected earnings of 31 cents on revenue of $111.3 million.
Nvidia (NVDA) is expected to report third-quarter profit of 26 cents a share after the markets close Thursday, more than last year's earnings of 15 cents.
Rare-earth-products producer Molycorp (MCP) is expected to report a third-quarter profit of 70 cents a share after the markets close, rebounding from a loss of 14 cents the same time last year.
Department store operator Kohl's (KSS) posted a third-quarter profit of 80 cents a share, beating the Wall Street consensus target by 1 cent.
Advance Auto Parts (AAP) reported third-quarter earnings of $1.41, beating the average analyst estimate of $1.18. The company also forecast full-year earnings of $4.90 to $4.95 a share, above the average analyst estimate of $4.69.
Stifel Financial (SF) swung to third-quarter profit of 35 cents a share from a loss of $1.65 a year ago but missed the average analyst estimate of 41 cents a share.
Department store operator Nordstrom (JWN) is expected to post third-quarter earnings of 59 cents a share after the markets close, up from 53 cents the same time last year.
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Investors are anxious to see if hiring can maintain its strong pace in the second half of the year.
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