Stocks to Watch: Lowe's, Cisco (Update 1)

TheStreet.com

NEW YORK -- Lowe's LOW , the home-improvement retailer, posted third-quarter results that exceeded forecasts as same-store sales for the period rose 1.8%.

Adjusted earnings were 40 cents a share on revenue of $12.07 billion; analysts on average were expecting earnings of 35 cents a share in the third quarter on revenue of $11.91 billion.

Lowe's shares were rising 3.9% in premarket trading Monday to $33.21.

5 Dividend Stocks Itching to Pay You More


Cisco Systems CSCO , the networking giant, announced Sunday it was buying cloud computing company Meraki for $1.2 billion.

Meraki, based in San Francisco, will form Cisco's new Cloud Networking group, which will be led by Meraki CEO Sanjit Biswas.

Cisco shares were rising 1.3% to $18.22 in premarket trading.


Retailer Urban Outfitters URBN is expected to earn 41 cents a share in the third quarter on revenue of $692.4 million.

Clues to E-Commerce Success


Tyson Foods TSN posted fiscal fourth-quarter adjusted earnings of 55 cents a share on sales of $8.37 billion. analysts forecast earnings of 44 cents a share on sales of $8.49 billion.


Earnings are also expected Monday from Jack in the Box JACK , Krispy Kreme KKD , Agilent A and Brocade BRCD .


BioMimetic Therapeutics BMTI shares rose 82% to $7.57 after it announced Monday an agreement to combine its business with Wright Medical WMGI .


News Corp NWSA is expected to announce this week that it will acquire a 49% in the YES Network from the New York Yankees and its partners, according to Reuters, which cited a person with knowledge of the talks.

The deal would would value the sports channel at $3 billion, Reuters said.

An Assault on Yield-Oriented ETFs


-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

Holiday Special: Subscribe to Action Alerts PLUS to see how Jim Cramer trades his $2.5 Million+ portfolio for 51% off the list price. Your first 14-days are FREE. Sign up today to get e-mail alerts before every trade.

View Comments (0)