Here is a look at some of the stocks the Yahoo Finance team will be watching for you today.
Retailers continue to roll out their quarterly results. Wal-Mart (WMT) posted earnings that were in-line with estimates. Revenue beat expectations by about $1.1 billion. However, store traffic in the U.S. fell 1.1%, its seventh quarterly decline. Same-store sales in the U.S. were flat, coming off of five straight quarters of declines. Wal-Mart also cut its full-year earnings outlook.
Kohl's (KSS) shares rose in the pre-market. The department store chain reported second-quarter earnings and revenue that topped estimates. However, sales fell 1.3% as the retailer continues to struggle with lower traffic in stores despite an improving economy.
Cisco Systems (CSCO) shares were lower in early trading. The network equipment company plans to cut up to 6,000 jobs, or 8% of its global workforce as part of a major restructuring. The company made the announcement after reporting better-than-expected earnings and revenue. However, both revenue and earnings were about flat from a year earlier as the company struggles to grow in emerging markets, like China.
Amgen (AMGN) share fell before the bell. The biotech firm said a late-stage trial of its blood-cancer treatment Kyprolis failed to achieve its goal of improving overall patient survival. The company also recalled its prefilled syringes of its anemia drug Aranesp from overseas distributors due to visible particles.
UPS (UPS) and FedEx (FDX) are also grabbing headlines. The package-delivery companies have won licenses in China to expand their domestic shipping services in the country without taking on joint-venture partners. Reuters reports that UPS and FedEx have been waiting for years to independently deliver packages to Chinese consumers and businesses, but a 2009 postal law largely restricted foreign firms to delivering packages from abroad.
- Investment & Company Information