Results Dispel Fears Of Slowing Economy
Cisco Systems earned $0.47 a share in its fourth quarter on revenue of $11.69 billion. Analysts had only expected $0.46 and $11.60 billion, respectively. Management also raised the quarterly dividend by 75 percent. CSCO surges more than 7 percent before the bell on my tradeMONSTER platform.
Electronic Arts Gains On Takeover Hopes
Electronic Arts is popping this morning on a report in the New York Post that the video-game maker is attracting private-equity suitors. Sources said the talks are still early, but it's still enough to lift EA 10 percent in the premarket.
PetSmart Earnings Beat, Guidance Raised
PetSmart earned $0.71 a share, better than the $0.66 forecast by analysts. Its full-year guidance was also raised to $3.30 to $3.40, compared with an earlier range of $3.19 to $3.31. PETM rallies 6 percent in early trading.
Molycorp Falls On Stock Dilution
Molycorp announced it plans to sell as much as $345 million of convertible notes and as much as $172.5 million in stock. Proceeds will be used to fund operating expenses and capital expenditures. MCP drops 9 percent on the news.