After-hours buzz: Cisco Systems, Agilent, JC Penney & More
Check out which companies are making headlines after the bell Wednesday:
Cisco Systems reported fiscal fourth-quarter earnings of 52 cents per share excluding items, beating forecasts by a penny. Revenue came in at $12.42 billion, up 6 percent from a year ago, as product and services sales rose. The networking-gear maker's gross margin shrank to 59.2 percent from 60.6 percent. Cisco sees fiscal first-quarter earnings of 50 cents to 51 cents per share and revenue growth of 3 percent to 5 percent, which is at the low end of analyst forecasts. It is also laying off 4,000 people, or 5 percent of the workforce. The stock is tanking in late trading.
(Read more: Cisco earnings beat by a penny)
Storage network equipment company NetApp was lower after it posted fiscal first-quarter revenue that missed forecasts. Excluding items, the company earned 53 cents per share on revenue of $1.52 billion. Analysts were looking for earnings of 49 cents per share on revenue of $1.53 billion. Second-quarter earnings are expected to be 60 cents to 65 cents per share on revenue of $1.56 billion to $1.66 billion.
Elsewhere, Agilent reported earnings of 68 cents per share excluding items on revenue of $1.65 billion. That beat forecasts for earnings of 62 cents per share on sales of $1.64 billion. For the fourth quarter, Agilent sees earnings of 75 cents to 77 cents per share, in line with current estimates for 76 cents per share. The stock jumped in extended hours trading.
In other tech news, Dell announced that it will report quarter earnings after the close on Thursday. It was expected to report results next week.
J.C. Penney shares were flat in after-hours trading following a spike heading into the close. The New York Post said on Twitter that same-store sales are positive so far this month at the retailer, citing sources.
Dean Foods said it will undertake a 1-for-2 reverse stock split.
It's also hedge fund holdings day. Click here to read about what the top managers were doing in the second quarter.