Slow Summer Trading Shows on Wednesday, Cisco Beats Expectations and Sees Shares Rise
PUBLISHED ON: Aug 15, 2012
On Wednesday, trading volume was low and US indices ended mixed at the close of Wall Street. Reports were released that home building confidence is high and that industrial output increased in July, but manufacturing was down in the New York region. News from Cisco Systems (CSCO) came after the bell and announced an increase in their dividend and beat expectations on the past quarter. NetApp Inc. (NTAP) also saw shares rise after improving their forecast. Deere & Co.(DE) cut their outlook for the year and questions the influence of this year's drought. Carlyle group (CG) announced its plans to acquire Getty Images for $3.3 billion. Oil prices are at a three-month high and the dollar made gains against both the euro and the yen.
Word on the Street
- Home builder confidence in the US is the highest it has been since March 2007.
- Global oil supply drops after an Energy Department report and oil prices hit a three-month high.
- The world's largest agricultural equipment maker, Deere & Co. (DE) reports lower earnings and cuts outlook.
- All 4 million Bumbo International baby seats sold in the US are being recalled.
- Target (TGT) raises full-year forecast and gets ready to open its first stores in Canada next year.
- Carlyle Group (CG) announces it will form a partnership to buy Getty Images for $3.3 billion.
- Samsung's lawsuit with Apple (AAPL) continues, Galaxy Note 10.1 on sale tomorrow.
- Knight Capital (KCG) Up After Disclosing Source of Glitch.
- How to motivate and retain Generation Y employees.
- Four digital trends that are changing the media landscape and what they mean for companies.