Cisco Systems (CSCO) 17.20 -0.78: -- Update -- Trading down over 1 pt after hours to 15.93. More notes on the warning: the inventory picture was shockingly grim. Even with the $2.5 bln writedown, inventories at the end of the qtr will be $1.6 bln. If not for the writedown, inventories would have soared to $4.1 bln in Apr from $2.5 bln in Jan and $1.9 bln in Oct. Also, gross margins are expected to be in the low-mid 50s vs prior expectation of 60%.
Cisco Fallout : CSCO currently -1.89 at 15.31 after hours; Nasdaq 100 after hours indicator -36. Other Cisco-related stocks also getting hit (changes vs close); suppliers: AMCC -1.48, PMCS -1.39, BRCM -1.16, VTSS -1.25; contract manufacturers: PLXS -1.75, SANM -1.40; competitors: NT -0.75, EXTR -1.03, JNPR -2.34, CIEN -2.71, ONIS -1.67. |
