By Saumya Vaishampayan, MarketWatch
NEW YORK (MarketWatch) -- Shares of Cisco Systems and NetApp fell in premarket trade Thursday while shares of Agilent Technologies gained. Apple continued to attract attention.
Agilent Technologies Inc. (A) shares climbed nearly 5%. The company's fiscal third-quarter adjusted earnings of 68 cents a share was higher than the range of 60 cents to 64 cents it had previously projected, pushing shares higher.
Cisco Systems Inc. (CSCO) shares slid more than 8%. The company said Wednesday it would cut 5% of its workforce, totalling about 4,000 jobs, citing a challenging economy. "This recovery is more mixed and inconsistent than the others I have seen," said Chief Executive John Chambers.The company also reported fiscal fourth-quarter earnings that rose 18%.
Shares of NetApp Inc. (NTAP) shed 3%. The company projected second-quarter per-share earnings on Wednesday of 60 cents to 65 cents on revenue of $1.56 billion to $1.66 billion. The lower ends of both projections dipped below analyst expectations of 63 cents a share in profit on $1.62 billion in revenue.
Wal-Mart Stores Inc. (WMT) shares fell more than 2%. The retailer's second-quarter earnings release showed a 0.3% decline in U.S. same-store sales, missing expectations. Wal-Mart also lowered its 2013 outlook.
Top Tickers Trending
$AAPL RBC Capital raised its price target for Apple Inc. (AAPL) shares on Thursday to $525 a share from $475 a share, citing activist investor Carl Icahn's tweet about a conversation with the Apple chief about a bigger buyback, as well as expectations of a new iPhone.
-Saumya Vaishampayan; 415-439-6400; AskNewswires@dowjones.com
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08-15-13 0831ETCopyright (c) 2013 Dow Jones & Company, Inc.
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