15:30 ET Cisco Earnings Preview : Cisco (CSCO 20.41 +1.16) is expected to deliver a profit of $0.02 for the qtr, compared to yr-ago
EPS of $0.14 (-86%); consensus estimate for revenues is $4.7 bln. For purposes of comparing company guidance to current expectations,
mean numbers for the July qtr are $0.02 and $4.34 bln... Hearing that the EPS whisper number for this evening's report is as high as $0.05
vs $0.02 consensus.
15:25 ET OmniSky (OMNY) 2.59 -0.11 (-4%): Announced an agreement with Extended Systems (XTND) to provide corporate
managers a secure solution for wirelessly extending corporate e-mail and, in the future, other business information to their employees.
15:20 ET Earnings Watch : As you probably know by now, the key report due out after-the-close is Cisco (CSCO). Also of interest will
be AETH, HLTH, MXIM, TMPW, MTSN, JBX.
15:00 ET Dow -52, Nasdaq +13, S&P -4.16: [BRIEFING.COM] Seeing a modest turnaround in the Nasdaq, as it's at its highest level
since the first hour of trading. Chips are participating in recent buying despite negative comments from Banc of America on National Semi
(NSM 24.99 -1.20). That firm expects the company to preannounce and cut 10% of their workforces after the close today....CLECs
have rebounded off their lows after bad news from Time Warner Tcom (TWTC 44.62 -3.38) which said that its growth rate may slow due
to a softening economy and increasing customer bankruptcies....Hotel stocks are among the weakest sectors today. Robertson Stephens
is cautious on MAR saying that earnings ests. will be coming down citing weak trends in leisure and business travel; also, the firm sees very
little upside over next six months. Note is dragging down Four Seasons (FS 57.77 -2.61)...Grocery stocks still weak despite strong
performance by Whole Foods (WFMI 51.12 +4.02), which was upgraded by Merrill Lynch. SOX +0.6%... NYSE Adv/Dec 1520/1473...
Nasdaq Adv/Dec 1954/1784.
14:35 ET Dow -67, Nasdaq +3, S&P -6.16: [BRIEFING.COM] It seems as if the air is out of the market. The Nasdaq has been 10
points plus/minus the flat line for most of the session awaiting the Cisco release. Briefing.com will be on the call at 4:45 ET, so be sure to
monitor our Short Stories page for Live Updates...Techs, in general, continue to drift sideways, but the SOX Index is testing its session lows
again....Finanicals continue to weaken on the downgrade of American Expr |
