Cisco Delivers: DJIA Market Close for Wednesday, August 15, 2012

The Dow closed down -7.36 (-0.06%) at 13,164.78.

There were 16 Dow stocks higher today though. Leaders were BAC (+1.16%), CSCO, AXP, UTX, WMT HD, AA and DIS.

Losers were led by MRK (-0.79%), KFT, JNJ, BA, T, HPQ, MCD and VZ.

Today, after the close, Cisco (CSCO) delivered estimate beating earnings of $1.9 billion, or 36 cents per share, in its fiscal fourth quarter, which spanned May to July. That’s a 56 percent increase from $1.2 billion, or 22 cents per share, in the same period a year ago. So, excluding the cost of stock-based compensation, restructuring costs and other items, Cisco would have earned 47 cents per share, up from 40 cents per share earned last year. Doing the math, Cisco’s earnings were 2 cents above the average analyst estimate. Revenue of $11.7 billion beat estimates and compares with $11.2 billion a year ago.

Cisco’s shares are up in the neighborhood of +5% in after-hours trade.

Hewlitt-Packard (HPQ) reports earnings tomorrow (8/22/12) after the market close.

The dollar was up against the euro and Japanese yen, but slipped versus the British pound.

Oil for September delivery added 90 cents to $94.33 a barrel.

Gold futures for December delivery gained $4.20 to $1,606.60 an ounce.

The price on the benchmark 10-year U.S. Treasury dropped, pushing the yield up to 1.81% from 1.73% late Tuesday.

Tomorrow before the open, notable stocks expected to report earnings include LYTS, GKSR, PRGO, ARX, BKE, BONT, CATO, DANG, DLTR, GME, PERY, PLCE, ROST, SHLD, SMRT, SSI, WMT and EJ.

Tonight we have HD, XOM and MMM attaining new 52 week highs.

Looking at the Russell 2000 chart tonight, I think it looks like we could break higher tomorrow. As long as a eurozone or a Knight Capital like event doesn’t screw things that is.

So, do you think Wal-Mart will deliver great earnings tomorrow?

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