NASDAQ:CSCO

Midday Volume Leaders: BAC, CSCO, SIRI, GE, MSFT, ORCL

February 10, 2012 By Leave a Comment

Stocks are continuing their sell off in midday trading as the Greece deal collapses. Other euro zone countries, Germany in particular, are calling on Greece to cut even more costs if they want to receive another bailout package. Now there are reports that one of the parties in Greece has withdrawn support for additional austerity measures. This news has caused the major stock indexes to fall more than 0.5% today. The Dow is down 113 points, the Nasdaq is down 17 points and the S&P is down 9 points.

Bank of America Corporation (NYSE:BAC) is down nearly 1% in midday trading at $8.10. BAC has traded 155.1 million shares so far today and usually trades 278.3 million shares a day on average. BAC shares are down with the overall market today. Bank of America received a subpoena from the Massachusetts securities regulator today due to the company’s involvement in two loan securities that cost investors $150 million. The company has a market cap of 85.18 billion.

Cisco Systems, Inc. (NASDAQ:CSCO) is down 0.70% today at $19.86. CSCO has traded 35.7 million shares so far today and trades 47.7 million shares a day on average. CSCO shares are up about $1.50 a share since the beginning of the year. The company has a market cap of 106.93 million.

Sirius XM Radio Inc. (NASDAQ:SIRI) is down 1.83% in midday trading at $2.14. SIRI has traded 35.6 million shares so far today and trades 54.4 million shares a day on average. Sirius posted fourth quarter results yesterday. The company posted a $71.3 million profit in the fourth quarter, last year it posted a loss. Sirius is expecting to at 1.3 million new subscribers in 2012, fewer than the 1.7 million added in 2011. The company has a market cap of 8.04 billion.

General Electric Company (NYSE:GE) is down 1.16% today at $18.91. GE has traded 26.3 million shares today and trades 58.5 million shares a day on average. GE shares are up about $0.50 on the year. The company has a market cap of 199.91 billion.

Microsoft Corporation (NASDAQ:MSFT) is down 0.67% in midday trading at $30.57. MSFT has traded 23 million shares today and trades 54.3 million shares a day on average. MSFT shares are up more than $3 a share since the start of 2012. The company has a market cap of 256.79 billion.

Oracle Corporation (NASDAQ:ORCL) is down 1.59% today at $28.43. ORCL has traded 19.7 million shares so far today and trades 32.1 million shares a day on average. ORCL shares are up nearly $3 over the past month. The company has a market cap of 142.88 billion.

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Investors Shake off Greek Deal and Jobless Claims Numbers

February 9, 2012 By Leave a Comment

Stocks are trading flat heading into midday trading as investors shrug off reports of a Greek deal and a drop in jobless claims. Reports came in this morning of a possible deal out of Greece. The deal would allow the financially struggling nation to receive a second bailout package.

Closer to home, jobless claims fell 15,000 to a seasonally-adjusted 358,000 according to the Labor Department. This is the second lowest level in almost four years. Many economists had expected claims to go up 3,000. While jobless claims fell, wholesale inventories rose 1% in December. This was higher than the 0.4% gain analysts were expecting.

Earnings season continues to be busy with companies releasing earnings earlier today and a few slated for after the market close.

Pepsico, Inc. (NYSE:PEP) shares took a hit this morning after the company reported better than expected profits, but guidance saw a 5% decline in 2012 earnings. This decline comes as Pepsico increases advertising and manufacturing costs. The company also announced it will be cutting nearly 9,000 jobs in restructuring. PEP is down 3.84% right now at $64.18.

Credit Suisse Group (NYSE:CS) is seeing a sell off today after the bank posted a quarterly loss. The company reported a net loss of $698 million, analysts were expecting a profit of $471 million. This loss comes as the company took $1.07 billion of charges to speed up cost cutting and dumping of risky assets. CS is down 3.33% at $26.72.

Visa Inc. (NYSE:V) is rallying today after announcing better than expected earnings late yesterday. The company also announced a share repurchase program worth $500 million. Also, many different brokerages increased their target prices for Visa. V is up 4.28% at $112.99.

Cisco Systems, Inc. (NASDAQ:CSCO) is down slightly in midday trading despite posting better than expected results and raising their dividend. CSCO is down 0.08% at $20.4141.

Apple Inc. (NASDAQ:AAPL) share are up today as Canaccord Genuity raised their price target from $650 to $665. Apple shares are up nearly $40 a share in the past week.

Investors will be eying Activision Blizzard, Inc. (NASDAQ:ATVI) and LinkedIn Corporation (NASDAQ:LNKD) as well as other companies after the market close when they report earnings.

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Active Stocks In Midday Trading: FTR, CSCO, RIMM, HGSI, EMN, UAL

January 27, 2012 By Leave a Comment

Stocks are slipping in midday trading as GDP numbers came in lower than expected. The economy grew at a 2.8% annual rate in the last three months of the year. Economists were expecting 3% growth. Inventory stockpiling accounted for 1.9% of the GDP in the fourth quarter.If you take that out, the economy only grew at 0.8%. The Dow is currently down 83 points, the Nasdaq is up 5 points and the S&P 500 is down 4 points.

Frontier Communications Company (NASDAQ:FTR) is down 5.15% in midday trading at $4.23. FTR has traded 38.7 million shares so far today, about double its daily average. FTR shares are down about 20% on the year. The company has a market cap of 4.23 billion. Check out one of the best swing traders on the street.

Cisco Systems, Inc. (NASDAQ:CSCO) is down 1.26% today at $19.56. CSCO has traded 27.9 million shares so far today and trades 47.4 million shares a day on average. CSCO shares are dipping a little bit today as the overall market looks weak right now. The company has a market cap of 105.10 billion.

Research In Motion Limited (NASDAQ:RIMM) is up 2.65% in midday trading at $16.70. RIMM has traded 14.1 million shares today and trades 24.4 million shares a day on average. RIMM shares have been bouncing back the past few days after falling more than $2 a share earlier this month. The company has a market cap of 8.62 billion.

Human Genome Sciences, Inc. (NASDAQ:HGSI) is up 8.61% today at $10.60. HGSI has traded 7.5 million shares so far today, 1 million shares more than its daily average. HGSI shares are up more than $3 a share since the start of the year. The company has a market cap of 2.08 billion. Check out one of the best swing traders on the street.

Eastman Chemical Company (NYSE:EMN) is up 4.90% in midday trading at $49.44. EMN has traded 10.8 million shares right now, well above its daily average of 1.6 million shares.EMN shares are up today after the company bought Solutia for $3.4 billion. The company has a market cap of 6.78 billion.

United Continental Holdings (NYSE:UAL) is up 6.36% today at $23.08. UAL has traded 10.5 million shares today, 80% more than its daily average. UAL shares are up today after the company posted fourth quarter results that beat surpassed analysts expectations. The company has a market cap of 7.64 billion.

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Active Stocks as Market Trades Flat Near Close: BAC, MSFT, CSCO, NOK, HPQ, MU

January 23, 2012 By Leave a Comment

The market is rebounding with about 30 minutes left in the trading day after being down earlier today. Europe continues to hang over the market as traders take a wait and see approach. The upcoming Fed meeting this week also has traders hesitating to take positions before they hear what the Fed has to say. The Dow is trading flat right now, the Nasdaq is down 3 points and the S&P 500 is up about a point.

Let’s take a look at the most heavily traded stocks today.

Bank of America Corporation (NYSE:BAC) is up 2.83% today at $7.28. BAC is up on above average volume this afternoon with 307 million shares traded, well above its daily average of 270 million shares. Brian Moynihan, chief executive for the company, told BofA workers that an additional $3 billion in expense cuts its coming. BAC shares have jumped up more than $2 a share over the past month. The company has a market cap of 76.54 billion.

Microsoft Corporation (NASDAQ:MSFT) is trading flat today at $29.75. MSFT has traded nearly 69 million shares today, well above its daily average of 55.7 million shares. MSFT shares have jumped more than $1 a share since Friday as investors reacted positively to the company’s quarterly results. The company has a market cap of 249.12 billion.

Cisco Systems, Inc. (NASDAQ:CSCO) is down 0.5% in late day trading at $19.82. CSCO has traded 44.6 million shares so far today and averages 47.7 million shares a day. CSCO shares are up about $1.20 since the start of new year. The company has a market cap of 106.47 billion.

Nokia Corporation (NYSE:NOK) is up 2.23% today at $5.7393. NOK has traded 25.6 million shares so far today and trades 29.9 million shares a day on average. NOK shares have jumped about $0.50 a share since the beginning of January. The company has a market cap of 21.31 billion.

Hewlett-Packard Company (NYSE:HPQ) is up 1.92% today at $28.67. HPQ is up on above average volume today with 20 million shares traded, 3 million more than its daily average. HPQ shares are up $2 a share on the year. The company has a market cap of 56.82 billion.

Micron Technology, Inc. (NASDAQ:MU) is up 1.55% today at $7.89. MU is trading average volume today with 31.7 million shares traded, the stock typically trades 32.3 million shares a day. MU shares have jumped $1 a share since the start of January. The company has a market cap of 7.79 billion.

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BAC, SIRI, F, C, INTC, CSCO, JPM Are The Volume Leaders

January 5, 2012 By Leave a Comment

Bank of America Corporation (NYSE:BAC) is up 6.97% in midday trading at $6.2150. BAC is up on heavy volume with 305 million shares traded today, well above its daily average of 257 million shares. BAC shares are up about $1 a share since last Thursday. The company has a market cap of 63.16 billion.

Sirius XM Radio Inc. (NASDAQ:SIRI) is up 11.20% today at $2.0350. SIRI has traded 74.6 million shares so far today, 20 million more than its daily average. SIRI stock is up up today after the company announced it added 1.7 million users in 2011. The company has a market cap of 7.57 billion.

Ford Motor Co. (NYSE:F) is up 2.21% in afternoon trading at $11.55. F has traded 36.6 million shares today and trades 58.4 million shares a day on average. F is up close to $1 a share since last Thursday. The company has a market cap of 43.83 billion.

Citigroup, Inc. (NYSE:C) is up 2.88% today at $28.99. C has traded 31.1 million shares today and trades 57.2 million shares a day on average. Bank stocks are popping today as the entire market is beginning to turn around in afternoon trading. The company has a market cap of 84.20 billion.

Intel Corporation (NASDAQ:INTC) is up 1.12% in midday trading at $25.39. INTC has traded 24.1 million shares today and trades 56.6 million shares a day on average. INTC has been trending slightly higher over the past week and is up about $0.80 in that period. The company has a market cap of 128.87 billion.

Cisco Systems, Inc. (NASDAQ:CSCO) is down 0.66% right now at $18.86. CSCO has traded 20.7 million shares today and trades 50.7 million shares a day on average. CSCO is dipping slightly after the stock rose $1 a share since Tuesday. The company has a market cap of 101.12 billion.

JPMorgan Chase & Co. (NYSE:JPM) is up 2.09% today at $35.68. JPM is up on slightly below average volume with 19.5 million shares traded. The stock usually trades 42.5 million shares a day on average. JPM is up today as the major financial stocks are all rallying right now. The company has a market cap of 135.12 billion.

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Futures Rise As Investors Wait for Economic Reports; Stocks to Watch: AAPL, BAC, MSFT, CSCO, NVDA, NVLS, RBY

December 15, 2011 By Leave a Comment

U.S. futures are up modestly after yesterday’s sell-off as investors wait for several key economic data points. At 8:30am EST weekly jobless numbers, November producer prices and the Empire State manufacturing indexing will release. At 9:15am the Industrial Production data for November will come out and at 10am the Philadelphia Fed manufacturing survey will release its numbers. Needless to say there will be plenty for traders to go over in the coming hours.

Traders on the floor are hopeful they Can tack on a percent or two purely off technical rebound but they are mindful that the market has been seized by the realities of the ongoing EU crisis. Overnight the Swiss National Bank vowed to defend the franc. While traders hoped the SNB would raise the rate, the bank has vowed to keep the 1.2 franc to euro rate intact. They also warned that the continuing sovereign debt crisis was a major threat to the Swiss economy.

Greece continued to be the underpinning of the sovereign debt crisis after the IMF said that the country was lagging in reforms. The International Monetary Fund said that Greece could not just rely on tax increases and across the board cuts, it needed to look at areas that amount to a third rail of Greek politics – laying off state workers. Granted one has to wonder how do you cut spending and not lay off state workers.

HSBC released a report overnight showing continued cooling of manufacturing in China. The pace of decline has stabilized but the growing weakness of domestic demand is becoming prevalent in the numbers.

Commodity prices were edging higher after yesterday’s rout. Gold futures were up about a half a percent while oil is tacking on .66%. Yesterday’s rout could continue if there s continued weakness out of developed economies.

Current number as of 8am EST have the Dow futures up 57 points, the Nasdaq adding 12 and the S%P rising 6.50.

European markets have rebounded after yesterday’s sell-off with the banking heavy Stoxx Europe 600 adding a percent. The Euro is up modestly breaking above the psychologically important 1.30 level. The DAX is up over a percent, while the FTSE 100 is nearly up three quarters of a percent.

Stocks to watch today include Apple Inc. (NASDAQ:AAPL), Bank of America Corporation (NYSE:BAC), Microsoft Corporation (NASDAQ:MSFT), Cisco Systems, Inc. (NASDAQ:CSCO), NVIDIA Corporation (NASDAQ:NVDA), Novellus Systems, Inc. (NASDAQ:NVLS) and Rubicon Minerals Corp. (AMEX:RBY).

Apple Inc. (NASDAQ:AAPL) is up 0.58% in pre market trading at $382.40. AAPL has traded 5 thousand shares so far in pre market trading. The stock trades on average 14.28 million shares a day. AAPL stock dropped 2.22% on Wednesday, or $8.62 a share. The company has a market cap of 353.35 billion.

Bank of America Corp. (NYSE:BAC) is up 1.53% in pre market trading at $5.31. BAC trades 268.72 million shares a day on average. BAC has been in a slight decline for about a week now, falling from around $6 a share last week. Bank of America has a market cap of 53.01 billion.

Microsoft Corporation (NASDAQ:MSFT) is closed Wednesday down slightly at $25.59. MSFT trades 50.69 million shares a day on average. Late yesterday, Microsoft declared a quarterly dividend of $0.20 per share. This dividend is payable on March 8, 2012 to shareholders that are on record by February 16, 2012. Microsoft has a market cap of 215.27 billion.

Cisco Systems, Inc. (NASDAQ:CSCO) is up 0.67% in pre market at $18.10. CSCO trades 52.30 million shares a day on average. CSCO stock has fallen more than $1 a share since last Thursday. The company has a market cap of 96.66 billion.

NVIDIA Corporation (NASDAQ:NVDA) is up 4.42% in pre market trading at $14.18. NVDA trades 17.59 million shares a day on average. Shares of NVIDIA have fallen nearly $2 a share over the pst five trading sessions. The company has a market cap of 8.29 billion.

Novellus Systems, Inc. (NASDAQ:NVLS) is up 23.05% in pre market trading at $42.65. NVLS has traded 10 thousand shares already this morning and trades 1.55 million shares a day on average. Lam Research (NASDAQ:LRCX) acquired Novellus Systems in an all-stock transaction worth $3.3 billion. Novellus shareholders will get 1.125 shares of LRCX stock for each of their shares. Novellus has a market cap of 2.31 billion.

Rubicon Minerals Corp. (AMEX:RBY) is up 7.10% in pre market trading at $3.62. RBY trades 818 thousand shares a day on average. RBY stock finished yesterday down 7.65% at $3.38. The stock has fallen close to $0.75 a share since Monday. Rubicon Minerals has a market cap of 803.48 million.

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Market Heading Lower Into Close. Volume Leaders: INTC, PFE, MSFT, CSCO, SIRI

December 13, 2011 By Leave a Comment

The stock market is heading lower into the close following no monetary policy changes from the Fed. The Fed pointed to the European situation as a big risk to the economy and left the door open for further easing in monetary policy. The Fed characterized the economy as expanding moderately despite slow global growth.

“Strains in global financial markets continue to pose significant downside risks to the economic outlook,” the Fed said.

Following the Fed’s remarks, the markets quickly turned negative and the sell off is accelerating in the last 30 minutes. The Dow is down 93 points, the Nasdaq is down 38 points and the S&P is down 13 points.

Most stocks have followed the market negative in late day trading. Here’s a look at some of the volume leaders today.

Intel Corporation (NASDAQ:INTC) is down 1.92% in late afternoon trading. INTC has traded 63 million shares so far today and trades 64 million shares a day on average. INTC has been trending downward since last Thursday when it was trading at $25.50. Intel has a market cap of 119.92 billion.

Pfizer Inc. (NYSE:PFE) is up 1.67% in late day trading at $20.73. PFE has traded 55.3 million shares so far today and averages 46 million shares a day. Pfizer has a market cap of 159.12 billion.

Microsoft Corporation (NASDAQ:MSFT) is up 1% at $25.76 with about 10 minutes left in the trading day. MSFT has traded 42.9 million shares so far today and trades 55.8 million shares a day on average. Microsoft has a market cap of 216.11 billion.

Cisco Systems, Inc. (NASDAQ:CSCO) is down 0.57% today at $18.43. CSCO is down on light volume with only 38.5 million shares traded, well below its daily average of 56 million shares. The company has a market cap of 98.65 billion.

Sirius XM Radio Inc. (NASDAQ:SIRI) is up 1.69% today at $1.80. SIRI has traded 38.6 million shares so far today and trades 69 million shares a day on average. The company has a market cap of 6.73 billion.

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Volume Leaders In Midday Trading for 12/08: BAC, CLWR, NOK, MSFT, GE, CSCO

December 8, 2011 By Leave a Comment

The market sell off is quickening in midday trading as traders are waiting to see what happens in Europe. The Dow is down 102 points, the Nasdaq is down 22 points and the S&P is down 14 points.

Bank of America Corporation (NYSE:BAC) is down 3.14% in midday trading at $5.7050. BAC has traded 143.6 million shares so far today and trades 271 million shares a day on average. BAC has been whipsawing all week as uncertainty of the Europe crisis plagues Wall Street. The company has a market cap of 57.76 billion.

Clearwire Corporation (NASDAQ:CLWR) is down 4.61% at $2.1750 today. CLWR has traded 82.5 million share so far today, well above its daily average of 9.3 million shares. Clearwire said it has priced an offering of 175 million shares at $2 a share. This offering will total $350 million. Clearwire has a market cap of 540.61 million.

Nokia Corporation (NYSE:NOK) is down 5.53% in midday trading at $5.0350. NOK has traded 31.2 million shares so far today, 3 million shares more than its daily average. NOK stock has dropped $0.50 a share over the past five days. The company has a market cap of 18.70 billion.

Microsoft Corporation (NASDAQ:MSFT) is down 0.04% in midday trading at $25.61. MSFT has traded 25.4 million shares so far today and trades 56.3 million shares a day on average. MSFT is has traded relatively flat this week as traders wait for news from Europe. The company has a market cap of 215.77 billion.

General Electric Company (NYSE:GE) is down 1.88% today at $16.42. GE has traded 22.8 million shares so far today and trades 70.6 million shares a day on average. GE is slightly up for the week so far. General Electric has a market cap of 174.20 billion.

Cisco Systems, Inc. (NASDAQ:CSCO) is down 1.90% at $18.63 in midday trading. CSCO has traded 19.7 million shares so far today and trades 57.7 million shares a day on average. CSCO is trading flat on the week so far. Cisco has a market cap of 100.42 billion.

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High Volume Stocks To Watch In Pre-Market: TELO, AFFY, FRO, ARBA, CSCO, AMZN, XOM

December 5, 2011 By Leave a Comment

News of possible progress in Europe boosted stocks this morning until the S&P came out placing core EU countries on credit watch negative. The ratings agency issues a stern warning to countries such as Germany that if they did not get their fiscal house in order they were subject to a downgrade to AA+ within 90 days. The major indices sold off on the news but recovered late as end of day buying came into the market. The Dow finished up 78 points while the Nasdaq added 29.

Asia markets are currently feeling the downward pull of the downgrade news with Japanese markets edging lower. All eyes continue to be focused on Europe as leaders in the core EU countries struggle to formulate a solution to sovereign debt crisis. Traders should also be wary of any volatility emanating out of the Middle East as Iran continues to saber rattle and Syria edges closer to full-blown civil war.

Stocks to watch in pre-market action on Tuesday include Taleo Corporation (NASDAQ:TELO), Affymax, Inc. (NASDAQ: AFFY), Frontline Ltd. (NYSE:FRO), Ariba Inc. (NASDAQ:ARBA), Cisco Systems Inc. (NASDAQ:CSCO), Amazon.com Inc. (NASDAQ:AMZN) and Exxon Mobil Corporation (NYSE:XOM).

Taleo Corporation (NASDAQ:TLEO) closed Monday up 19.84% at $39.50. TLEO traded 5.1 million shares today, well above the 460 thousand shares it trades on average. TLEO stock is up today following the SAP deal with SuccessFactors Inc. (NYSE:SFSF). This deal sent most cloud-based companies up today. Over the past five trading days, TLEO has moved up from below $32 to nearly $40 a share. Taleo Corp has a market cap of 1.64 billion.

Affymax, Inc. (NASDAQ:AFFY) ended the day up 19.24% at $6.26. AFFY traded 4.2 million shares today, more than 4 times its daily average volume. AFFY’s big jump today came after the FDA said the company’s experimental anemia drug works as well as drugs sold by Amgen Inc. (NASDAQ:AMGN) and Johnson & Johnson (NYSE:JNJ) for patients with chronic kidney disease. Affymax has a market cap of 223.67 million.

Frontline Ltd. (NYSE:FRO) closed Monday up 16.45% at $3.54. FRO traded 3.4 million shares today, higher than its daily average of 2.6 million shares. Over the past week, FRO is up from $2.70 to nearly $3.60. Frontline has a current market cap of 275.62 million.

Ariba Inc. (NASDAQ:ARBA) finished the day up 14.31% at $33.95. ARBA traded 2.8 million shares on Monday and trades 895 thousand shares a day on average. Ariba is another company that went up today thanks to the SAP deal for SuccessFactors Inc. ARBA has moved up $5 a share over the past week. The company has a market cap of 3.18 billion.

Cisco Systems, Inc. (NASDAQ:CSCO) closed Monday up 1.29% at $18.79. CSCO traded 43.5 million shares today and trades 58.5 million shares a day on average. CSCO is up $1 a share over the past five trading sessions. The company plans to host a live webcast tomorrow to discuss their cloud strategy and new technologies to enable cloud providers to build, manage and connect private, public and hybrid clouds. The company has a market cap of 101.01 billion.

Amazon.com Inc. (NASDAQ:AMZN) finished the day up slightly at $196.24, a gain of 0.11%. AMZN traded 5.9 million shares today and trades 7 million shares a day on average. AMZN continues to ride the wave of good Black Friday sales and great Kindle sales. The stock is up nearly $10 a share from its low last Thursday of $188. Amazon.com has a market cap of 89.24 billion.

Exxon Mobil Corporation (NYSE:XOM) closed Monday up 0.83% at $80.45. XOM traded 18.2 million shares today and trades 23.8 million shares a day on average. XOM has traded higher the past week moving up from $76 last week to $81 earlier today. The company has a current market cap of 385.61 billion.

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Facebook Worth $100 Billion? IPO Likely Set for Mid 2012

November 29, 2011 By Leave a Comment

There are reports today of Facebook being in internal discussions over the exact timing of its filings with the SEC for its IPO, and may file before the end of the year. Reports indicate that Mark Zuckerberg, CEO of Facebook, hasn’t made any final decisions yet. Facebook is also looking into raising $10 billion in an IPO that would value the company at $100 billion if not more.

If you’re looking to compare this to other online juggernauts IPO’s, look at Google, Inc. (NASDAQ:GOOG). In 2004, when they made their stock debut, the company was worth $27 billion. Google’s market cap today sits around $185 billion.

At a $100 billion valuation, Facebook would be worth more than a lot of big name companies including Hewlett-Packard (NYSE:HPQ) and Cisco Systems (NASDAQ:CSCO).

If they file for an IPO it would be the latest of a series of companies going public in Silicon Valley. Zynga, creator of Farmville, has already filed for an IPO up to $1 billion. In November, the much hyped Groupon (NASDAQ:GRPN) IPO was launched, but has since dropped below its IPO price. Other stocks that jumped initially but fell include LinkedIn (NYSE:LNKD) and Pandora (NYSE:P).

While Facebook does not disclose financial results, sources close to the company told Reuters earlier this year the company’s revenue in the first 6 months of 2011 doubled from the previous year to $1.6 billion.

About Facebook

Founded in February 2004, Facebook is a social utility that helps people communicate more efficiently with their friends, family and coworkers. The company develops technologies that facilitate the sharing of information through the social graph, the digital mapping of people’s real-world social connections. Anyone can sign up for Facebook and interact with the people they know in a trusted environment.

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Stocks Sell Off Quickens as Euro Crisis Deepens (BAC, CSCO, C, INTC, AAPL, MSFT)

November 14, 2011 By Leave a Comment

Stock market sell off quickened in afternoon trading as investors continue to worry about the Euro Zone debt crisis. Fresh data out of Europe indicate the region could be facing a recession, adding even more uncertainty to the region and global markets. Financials led the S&P down with Bank of America shares down more than 2%.

Italy’s banking group UniCredit SpA reported a steep loss in its third quarter results. The company posted a loss of 10.64 billion euros ($14.5 billion). UniCredit posted a profit of 334 million euros in the same quarter last year. This news caused even more uncertainty and fueled the sell off.

Investors are realizing that there are more problems in Europe than poor governments. The debt in these countries is monumental and needs to be dealt with in some fashion. What investors need more than anything else is less uncertainty.

Let’s take a look at the most active stocks on the stock market today.

Bank of America Corporation (NYSE:BAC) is down $0.18 at $6.03 in late day trading, a loss of 2.82%. Bank of America announced today they will be selling $2.9 billion in China Construction Bank shares. BAC has traded 156 million shares so far today and looks like it will fall short of its daily average of 293 million shares. The company has a current market cap of 61.32 billion.

Cisco Systems, Inc. (NASDAQ:CSCO) is trading slightly down today at $18.94, a loss of 0.39%. CSCO has traded 36 million shares so far today, about half its daily average volume. CSCO is trading above both its 50 day and 200 day moving average. Cisco has a current market cap of 102.14 billion.

Citigroup Inc. (NYSE:C) is trading down 3.89% at $28.19. C has traded 30.25 million shares so far today, about half its usual trading volume. Citi has fallen from $34 to around $28 since late October. The company has a current market cap of 82.39 billion.

Intel Corporation (NASDAQ:INTC) is down 1.31% at $24.52. INTC has been trending higher overall since August when it was trading less than $20. INTC has traded 30 million shares so far today, less than half its normal trading volume. The company has a current market cap of 124.85 billion.

Apple Inc. (NASDAQ:AAPL) is trading down 1.43% at $379.12 as the stock follows the overall market lower. AAPL has traded 12.86 million shares so far today, 8 million shares less than its daily average. Over the past month, AAPL has fallen from over $420 to less than $380. Apple has a current market cap of 352.39 billion.

Microsoft Corporation (NASDAQ:MSFT) is trading down slightly in afternoon trading at $26.67, a loss of 0.87%. MSFT has traded 23.3 million shares so far today, down from its daily average of 55 million shares. MSFT has been trading in a range of $25 to $27 the past few months. The company has a current market cap of 224.43 billion.

Overall the market is negative, but with relatively light volume with most big name stocks trading well below their daily averages. All eyes will continue to be on Europe this week.

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Cisco (CSCO) Issues Q1 Results. Net Sales $11.3 Billion

November 10, 2011 By Leave a Comment

Cisco Systems, Inc. (NASDAQ:CSCO), a worldwide leader in networking, reported its first quarter results for the period ended October 29, 2011. Cisco reported first quarter net sales of $11.3 billion, net income on a generally accepted accounting principles (GAAP) basis of $1.8 billion or $0.33 per share, and non-GAAP net income of $2.3 billion or $0.43 per share.

“We delivered a solid quarter,” said John Chambers, Cisco Chairman and CEO. “We’ve completed the majority of our restructuring and have organized Cisco to successfully execute against our strategy of providing intelligent networks, architectures and integrated products that solve customers’ business problems. Even in times of limited capital spending, intelligent networks are being deployed to drive new business, revenue and consumption models, enable new customer and employee experiences, and drive efficiencies. Cisco’s leadership in networking, video, collaboration and cloud, offered together in an integrated architectural approach, uniquely positions Cisco as a strategic business partner.”

Cisco reported cash flows from operations were $2.3 billion for the first quarter of fiscal 2012, compared with $1.7 billion for the first quarter of fiscal 2011, and compared with $2.8 billion for the fourth quarter of fiscal 2011.

During the first quarter of fiscal 2012, Cisco repurchased 100 million shares of common stock under the stock repurchase program at an average price of $15.37 per share for an aggregate purchase price of $1.5 billion. As of October 29, 2011, Cisco had repurchased and retired 3.6 billion shares of Cisco common stock at an average price of $20.49 per share for an aggregate purchase price of approximately $73.3 billion since the inception of the stock repurchase program. The remaining authorized amount for stock repurchases under this program as of October 29, 2011 was approximately $8.7 billion with no termination date.

Cisco reported it has 8,400 fewer employees than a year ago, after lay-offs and the sale of a manufacturing plant in Mexico.

Shares of Cisco are trading at trading up at 18.79, or 6.64% at the opening bell on Thursday.

Competitors to watch: Hewlett-Packard Company (NYSE:HPQ), Dell Inc. (NASDAQ:DELL), Seagate Technology PLC (NASDAQ:STX) and Xerox Corp. (NYSE:XRX)

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