Traders Recap: NetApp Inc, Cisco Systems Inc, Cliffs Natural Resources Inc, Merck & Co. Inc
NetApp Inc. (NASDAQ:NTAP) shares dropped 1.29% to $37.35. After market close on Tuesday, May 21, 2013, NetApp will announce financial results for the fourth quarter and fiscal year 2013, which ended April 26, 2013.
Additionally, the company, on April 15, announced it has submitted a prototype and proposal for a file share service capability for consideration by the OpenStack Foundation Technical Committee and community at large. The proposal will be a topic for discussion for inclusion in the Havana release this week at the OpenStack Summit (April 15-18) in Portland, Oregon.
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Cisco Systems, Inc.(NASDAQ:CSCO) stock declined 1.34% to $23.92. The company on May 15 reported its third quarter results for the period ended April 27, 2013. Cisco reported third quarter net sales of $12.2 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.5 billion or $0.46 per share, and non-GAAP net income of $2.7 billion or $0.51 per share. Net sales for the first nine months of fiscal 2013 were $36.2 billion, compared with $34.4 billion for the first nine months of fiscal 2012.
Cliffs Natural Resources Inc(NYSE:CLF) shares gained 1.79% to $21.06. The company on May 7 announced that its Board of Directors declared a quarterly cash dividend on the Company’s common shares of $0.15 per share. The cash dividend will be payable on June 3, 2013, to shareholders of record as of the close of business on May 17, 2013.
Additionally, the company, on April 24, reported a first-quarter profit of $97.1 million, or 66 cents a share. Adjusted per-share earnings slid to 60 cents from 89 cents a year earlier. Revenue declined 5.9% to $1.14 billion. Analysts had forecast earnings of 34 cents a share on revenue of $1.2 billion.
Merck & Co., Inc.(NYSE:MRK) shares 1.07% to $45.50. The company on May 15 priced a $6.5 billion public offering of senior unsecured notes. Proceeds from the notes will be used to repurchase our common stock and any remaining proceeds will be used for general corporate purposes.
Additionally, the company on May 1 reported net income of $1.59 billion, or 52 cents per share, compared with $1.74 billion, or 56 cents per share, in the year-earlier quarter, when it took charges for $1.6 billion of acquisition and restructuring costs. Adjusted earnings were 85 cents per share. Analysts on average were expecting 79 cents. Global sales fell 9 percent to $10.7 billion, below the $11.09 billion Wall Street was expecting.