Monday, July 18, 2011

Cisco to layoff 6,500 employees & take $1.3B charge (CSCO)

By Hedge Ly | 7/18/2011 03:35:00 PM |

It is never good to hear this ahead of APPLE eps tomorrow after the close as after IBM's tepid results.

Anyway the blogging community was ahead of the ball on this CSCO story as it has been rumored 10k were going to be laid off months ago. The robots pushed the pedal to the metal jerking the NDX nice and high so the landing will be softer tomorrow. CSCO also sold a mexico plant of theirs to Foxxconn......

Goldman reports before the open tomorrow as well as Coca Cola (KO)



IBM reported Q2 EPS $3.09 vs. $3.03
Reported Q2 revenue $26.67B vs. $25.35B

Take a look at the 1 min NQ_F chart showing POST evening session open pop of 10 handles .

Posted in: ,,