Cisco Systems (NASDAQ:CSCO) is popping more than 4% after announcing earnings. The company reported that product revenues increased 3 percent year over year, while service revenue jumped 12 percent. Gross margin declined to 62.3 percent from 64.3 percent in the previous year; however, it represented an increase from the fourth quarter’s 62.6 percent. Research and Development expenses dropped 7 percent from the previous quarter, with Selling, General and Administrative expense down 2 percent.
It appears that David Einhorn was right. Green Mountain (NASDAQ:GMCR) shares are crashing more than 30% after reporting a sales miss for the fiscal fourth quarter. The company cited, “Changes in wholesale customer ordering patterns in our grocery and club channels despite steady consumer point-of-sale demand in those channels.”
wer after the close. The major concern from Q3 earnings’ release is the sequential decline in WOW subs to 10.3 million from Q2’s 11.1 million. While the company attributed the declines primarily to Asian subs, we expect Western subscriber growth to be further challenged when EA (NASDAQ:ERTS) launches Star Wars The Old Republic MMO in December.
Shares of Adobe Systems (NASDAQ:ADBE) and Blue Nile Inc. (NASDAQ:NILE) fell hard during regular trading hours. Adobe declined 7% after announcing 750 job cuts amid a restructuring plan. Shares continue to edge lower in late trading. Blue Nile plummeted 33% after projecting fourth-quarter earnings below estimates. Furthermore, the company’s CEO resigned.