1) Cisco Systems (NASDAQ:CSCO): The stock is down -0.02% after hours following losses of -0.99% on the day. The company officially announced today something rumored to be in the works for some time, a wave of layoffs, which will see 6,500 employees, including 2,100 who voluntarily agreed to enter an early retirement program, lose their jobs by the end of the summer. The company will dump a total 9% of its workforce, short of the 10,000 jobs, or 15% of its employees, some analysts expected it to cut.
2) IBM (NYSE:IBM): Stock up 2.42% in after hours trades following losses of .15% on the day. The gains came after the company announced its second quarter earnings results, which saw income rise to $3.66 billion, or $3 a share, from $3.39 billion, or $2.61 last year. Revenues also 12% to $26.7 billion. The company topped earnings estimates by $.07 per share. IBM also announced that it is “raising its earnings guidance for the full year, to “at least” $12.87 a share on a GAAP basis, from $12.73 a share.” Keep your eyes on top related stocks Oracle Corporation (NASDAQ:ORCL), Hewlett-Packard Company (NYSE:HPQ), Microsoft Corporation (NASDAQ:MSFT), Cisco Systems, Inc. (NASDAQ:CSCO), Intel Corporation (NASDAQ:INTC), Dell Inc. (NASDAQ:DELL), Apple Inc. (NASDAQ:AAPL), EMC Corporation (NYSE:EMC), SAP AG (NYSE:SAP), and Sybase, Inc. (SY).
3) The Mosaic Company (NYSE:MOS): Stock has jumped 1.72% after hours to follow losses of -0.43% on the day. Mosaic reported its fourth quarter earnings this afternoon, featuring per share earnings of $1.45 that toppled analyst projections by $.05 per share. Revenue also rose 54% YoY to $2.86B. CEO Jim Prokopanko added, “Mosaic is ideally positioned to meet the expected long-term global demand growth for crop nutrients, with the leading combined capacity in potash and phosphates,” Prokopanko said. “We continue to invest to expand capacity, improve productivity and to distinguish Mosaic in the market with our premium products, such as Micro-Essentials®, Pegasus, and K-Mag®. With the Cargill split-off successfully completed, we are now fully focused on opportunities to create additional shareholder value.”