Advertisement

Monday Business | PREVIEW / Some of the major business
and economic events scheduled for this week.

Expectations Are High for Cisco, Applied Materials

May 08, 2000|Reuters

Technology bellwethers Cisco Systems and Applied Materials are expected to post strong earnings this week, underscoring the healthy outlook for the computer industry despite the recent wild gyrations of many high-tech stock prices. So far, computer, Internet and communications issues have posted a 31% earnings growth rate, year-to-year, the best track record since 1993, according to First Call/Thomson Financial, which tracks U.S. corporate financial results. Strong profit and revenue reports due from Cisco on Tuesday and Applied Materials on Wednesday should steady woozy investors with reminders of the strong underlying demand fueling technology equipment markets. Both Cisco and Applied Materials have long track records of beating Wall Street's consensus earnings expectations. Cisco is expected to report profit of 13 cents a share for the third quarter, compared with 10 cents a year ago. Meanwhile, Applied Materials is expected to report fiscal second-quarter earnings of 55 cents a share, versus 18 cents a year ago. On Thursday, fallen stock-market star Dell Computer Corp., the world's No. 2 maker of personal computers, is set to report flat year-over-year profits of 16 cents per share. Among major technology names, Computer Sciences Corp. kicks off the week today with its fourth-quarter report, while Computer Associates posts results Tuesday.

Advertisement
Los Angeles Times Articles
|
|
|