LONDON, Feb 7 (Reuters) - Shares in Cisco Systems (NasdaqNM:CSCO - news) were trading up slightly from after-hours levels in Europe on Thursday and Wall Street looked set to open mixed after the networking giant sounded a cautious note on its outlook.
Cisco was trading at $17.60 compared with $17.25 in after-hours trade, and after closing at $18.61 on Nasdaq. The group's earnings beat estimates for the fiscal second quarter, but the company said it sees fiscal third-quarter revenues flat to rising in the ``low single-digit'' range from the second quarter, and added visibility remains very limited.
``Everything traded down after hours and they've been trading in line with those levels. Volumes are light as people are waiting for the U.S. open,'' said one dealer.
U.S. stock index futures pointed to a mixed start for U.S. shares, with the March contract of the tech-heavy Nasdaq Composite down five points, while the equivalent Dow Jones contract rose five points.
Chip maker Intel Corp (NasdaqNM:INTC - news) stood at $32.50, compared with a close of $32.92.
In after-hours trading on Wednesday, Cendant Corp (NYSE:CD - news), a travel and residential real estate services firm, rose to $15.75 on Instinet, from a close of $15.57 after saying profit, before items, climbed to 23 cents a share, aided by its mortgage and travel service businesses and by recent acquisitions.
Stocks fell for a fourth session in a row on Wednesday amid lingering fears of bankruptcies and the accuracy of corporate bookkeeping. The Nasdaq (^IXIC - news) dropped 1.4 percent while the Dow Jones industrial average (^DJI - news) slipped 0.33 percent.
On the data front, the Labor Department releases first-time claims for jobless benefits for the week ended February 2 at 1330 GMT. Economists in a Reuters survey on average forecast a total of 386,000 new filings compared to 390,000 in the prior week. |
