Cisco May Surprise

Friday, 2 May 2008 | 6:27 PM ET

Will Cisco confirm tech’s recent comeback with strong earnings Tuesday after the bell?

In the earnings game, Cisco is on deck following a spate of strong tech industry earnings, explains CNBC’s Silicon valley Bureau Chief Jim Goldman. After Nortel’s good news some optimism is building in Cisco shares.

Analysts expect the tech giant to report a 10% rise in revenue when it reports fiscal third-quarter results Tuesday, buoyed by ongoing robust demand for technology- networking equipment. However it’s guidance that could move the stock. Investors will be keen to hear about future demand in the face of economic uncertainty.

Take some profits into earnings, counsels Guy Adami. It’s probably a buy, but not here.

I’m a buyer counters, Tim Seymour. They have a big presence in international markets and that makes it very attractive long term to me.

Tomorrow's Trades #2: CSCO
Cisco may validate tech comeback with strong earnings tomorrow, with the Fast Money crew and CNBC's Jim Goldman.

Cisco is best of breed, exclaims Jeff Macke. I also think you can get long.

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Trader disclosure: On May 2, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (ATVI), (DIS), (MSFT), (HAS), (INTC); Adami Owns (AGU), (NUE), (BTU), (C), (GS), (INTC), (MSFT); Seymour Owns (AAPL), (CSCO), (INTC), (MER), (MSFT); Seygem Asset Management Owns (EEM), (INFY); Finerman Owns (GS), (C); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (NYX), (MO), (MSFT), (PLCE), (PM),(YHOO) and (YHOO) Call Spreads, S&P 500 Puts, Finerman's Firm Is Short (WWY), (IYR), (IJR), (MDY), (IWM), (SPY), (COF); Finerman's Firm And Finerman Own (C) And (C) Leaps; GE Is The Parent Company Of CNBC

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