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CSCO hit after hours -8.5%

post #1 of 8
5/9/12 at 5:11pm
Thread Starter 

European weakness blamed, who could have possibly seen that coming? Europe has problems? confused.gif laughing.gif

 

Reuters -  Network equipment maker Cisco Systems (CSCO) beat third quarter earnings estimates, allaying some concerns about global technology spending even as questions remained about the San Jose company's ability to weather economic weakness.

 

Earnings, excluding items, were 48 cents per share compared with the average estimate of 47 cents a share as compiled by Thomson Reuters.

 

Revenue rose 6.6 percent from the year-ago quarter to $11.59 billion, compared with a Street view of $11.58 billion, the company said on Wednesday.

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post #2 of 8
5/9/12 at 5:43pm
I hate it when a company beats and its shares fall. CSCO was actually up 2% initially when the report came out but now it's falling off a cliff. They're a strong company, I will probably go long since its shares are so cheap.
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post #3 of 8
5/9/12 at 5:47pm
Thread Starter 

Yeah, the stock was looking great during trading hours, somebody really got whacked on the options here.

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post #4 of 8
5/9/12 at 8:58pm

ohhhh.. this was nice to see today.. I'm holding some FFIV short and currently negative on it.  Sticking to this one!

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post #5 of 8
5/9/12 at 10:55pm

Yeah while their earnings were good, their professed outlook was not again due to mainly the European X-factor.  Hate to say it, but I don't see us shedding that dingle berry anytime soon this year.  If we do decouple, it won't obviously be complete and any improvement will take years to complete.  Fact of corporate earnings is that some appreciable percentage comes from Europe and Asia.

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post #6 of 8
5/10/12 at 1:20am

I think people are looking for any reason to unload this-

I am, but I may have missed a good chance--

been holding this one in my longterm portfolio but recently been wanting to unload this to cash-- seems I am not the only one

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post #7 of 8
5/10/12 at 2:09pm

CSCO isn't a good investment for anything but swing trades until Chambers is ousted as CEO.  Their problem was, and continues to be, the fact that they are trying to be all things to everybody.  They still make the finest routers and switches you can find, and their unified communications platform is spectacular....but their attempts in the load balancing field are laughable, their firewalls have lost all momentum because they aren't next-gen, their WAN optimizers are trash, their IPS's are pure garbage, etc.  Given that the new datacenter model is vendor-agnostic, this causes big problems for CSCO.

 

They need to pare down to their core products and stop sinking money in losing propositions.  Until that happens, I'd not be comfortable investing in CSCO.

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post #8 of 8
5/10/12 at 2:37pm
Thread Starter 

Typically extreme moves in either direction are good for the opposite trade.

 

I would not be surprised to see the stock slowly drift higher off the teens while longs wait for "things to get better" before committing funds.

 

chart.ashx?t=CSCO&ty=c&ta=1&p=d&s=l

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