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Strategies & Market Trends : Trend Setters and Range Riders
MSFT 478.53-1.0%Dec 12 9:30 AM EST
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To: Petrol who wrote (16929)5/7/2002 11:08:11 PM
From: Susan G  Read Replies (2) of 26752
 
This is the most realistic write-up on the CSCO results I've seen yet.

AFTER THE BELL

Cisco Systems (CSCO) posted stronger than expected profit of $0.11/share for its
fiscal third quarter, marking the first time in more than a year that sales and
earnings rose from previous year’s levels. Revenue, however, fell slightly short of
expectations. Cisco CFO Larry Carter said the company expects fourth quarter
(July) sales to be either flat with the third quarter's $4.82 billion, or rising at a low
single-digit rate. That’s pretty much in line with the Street’s expectations.

But the company’s executives did not provide a forecast for fiscal 2003, which
begins in late July, with the CEO John Chambers saying the company's ability to
predict results accurately ‘remains limited.’ Cisco still remains cautious about the
economy and to quote Mr. Chambers’ words - it is just ‘too early to call a
turnaround.’ Chambers said, though, that he was more comfortable entering this
quarter than the last quarter and that the company is planning to increase their
stock buyback program. The stock market’s reaction was moderately positive to
the report.

Some of the other stuff being pumped out tonight is absurd. Even the headlines on Japan, which is having a a huge (200 pt) short squeeze, credit the move on the CSCO results. LOL I'd credit it to all the shorts that must not have been covered when Japan tanked 200 pts last night <g>
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