Stocks in the news: Cisco Systems, Comcast, News Corp., AIG
The following post rounds up the companies making headlines today:
Cisco Systems Inc. (CSCO) reported quarterly results late Wednesday, posting a 46 percent drop in earnings to $1.1 billion, or 19 cents per share, but adjust earnings were 31 cents per share, beating analyst expectations for earnings of 29 cents per share. Still, company said the quarter may have been the bottom of the recession-related downturn.
Comcast (CMCSA) reported Thursday that second-quarter profit rose 53 percent to $967 million, or 33 cents a share, beating estiamtes, as costs decreased and demand for its video, broadband and telephone services increased during the traditionally challenging three-month June period. Revenue rose 4.5 percent, but fell short of expectations. Shares gained over 3 percent in pre-market trade.