Hot Stocks to Watch: SGOC, KERX, CEDC, UAL, GPRC, XRX

Wall StreetThe broader market is getting pummeled this morning on renewed fears over the EU sovereign debt crisis. This time the fears have taken on a political bent as the Socialist candidate in France has force Sarkozy into a runoff slated for May 6. That is the same day Greeks go to the polls. This could blow up the bailout structure in Europe and create further turmoil for core EU countries.

Domestically, investors are reacting to Kellogg’s slashing of its 2012 forecast. Fears of a faltering recovery or a renewed downturn are being played out in the volatility index (VIX), which measures fear in the market. Vix has surged over 15% in morning trading to over 20.

Currently the Dow is off 152, the Nasdaq 51 and the S&P 18. [Read more...]

Insiders Trading Report for Apr 20

Traders at the NYSEWall Street is on pace to snap a 2-session losing streak thanks to a string of earnings beats. Nothing really happening on the economic data front heading into the weekend, so earnings season is the domestic driver. Internationally, investors are keeping an eye on both the IMF meetings and the French presidential election. Both have huge implications on whether the EU will finally be able to put aside sovereign debt concerns. [Read more...]

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

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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