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Trading at Noon: Cisco stock drops on poor earnings

Thursday, May 10, 2012 - 03:47

May 10 - Investors dumping Cisco's stock as CEO Chambers blames European uncertainty for the company's disappointing earnings.

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Need. The. Onetime Wall Street darlings is taking it on the chin today as investors worry tech spending. Has -- shares right now are off more than 10% it's the stock's biggest drop in more than a year. And comes on heavy volume following an earnings outlook that disappointed investors. This gets CEO John Chambers -- economic uncertainty particularly. In Europe saying it was difficult to predict performance for the second part of the year. Rival network equipment maker juniper shares are also getting hit they're down about six and a half percent Hewlett-Packard and IBM has about Dow components IBM now -- a little bit of a Green -- HP. Down as well as this out. Are able to oracle and I'm not teaming up with Cody in a bid for -- -- It should be all rosy for the cosmetic maker but share is an -- are filing. A lot of has been covering this story so why they choose down I mean the big got race. Avon has been adamant since day one that it does not want to be bought out by Cody and -- basically said it. Give us an answer at least start talking to us by Monday or walk and a lot of people -- to think that. The Avon we'll just let the deadline go and -- to bid to evaporate just I shareholders saying they're they're not confident this is and it. Go to price don't get raised. Well the shareholders we spoke to said that they don't think Avon will buy because they want our president made themselves want to 120 dollars. You and to be fair Dave on Avon's prices as your presence in -- low thirties a year ago. So there's still some life left and brands but it's been it's a company and a lot of turmoil when worn. I think being -- all this mean that just immediately means deep pocket so why so much negativity and why -- it down if you think I'm -- 128. Well Warren -- It was actually in from the get go but Cody did not say that he is one of the factors though this theory is that. They're mentioning him out decision to -- on how serious they -- -- an almost that's been lost its efforts to really give credence in the event. Very interesting revealed right now I thought thank you so much rain that's up to speed. Right US stocks are mostly higher as investors look for bargains after a string of losing sessions -- uncertainty in Europe. Also in the next relatively encouraging US jobs data and right now what gas and major indices well at the F and attached obviously -- drag. Impacting that. -- ESP at this hour utilities financials also tell economy in the utilities out there. More than 1%. As for US treasuries the ten years down more than three points the yield up near one point 9%. Brent crude slightly lower and gold futures up after hitting their lowest levels of the year this week. Face up. Have a problem and an amended -- with the SEC the company says the number of daily users is growing faster than a number of ads it's delivering. And it's not because more people locking into the basement using their mobile devices. And those have very little room for any advertising. And no ads while that equals no money. Print which monitors private company -- says a rapid shift in mobile means FaceBook will -- its second quarter projections. Its first quarter as a public company. Now for stocks to watch let's take a look at I travel agency Priceline -- now we have it shears off. More than 4% after the company posted a profit in the first quarter but issued a weak forecast. And shares of news program more than 5% after the company delivered a stronger than expected quarterly profit. It was enough for investors shrug off the -- us now. I'm Jen Rogers this is --

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Trading at Noon: Cisco stock drops on poor earnings

Thursday, May 10, 2012 - 03:47