Cisco Systems (CSCO) 19.30 -0.45 (-2.3%)
After warning for Q1 (Oct) sales, world's largest internet equip maker matches the Street's EPS estimate of $0.21 but misses the downwardly revised revenues estimate of $6.02 bln (coming in at $5.97 bln); Gross margins were 67.2% - the low end of guidance (67-68%); On its call, management issued softer than expected Q2 (Jan) sales guidance (up 1-3% sequentially); The unimpressive report/outlook sent CSCO (and rival FDRY) lower tonight
Computer Sciences (CSC) 51.50 +1.37 (+2.7%)
Provider of computer services shows upside to the Q2 (Sept) top and bottom-line estimates, and then guides in line for Q3 (Dec); FY05's (Mar) revenues outlook (at $16-16.25 bln) was above the market's expectation of $15.97 bln; Company said it has a 17-month federal pipeline of $37 bln, with about $15 bln of that set to be awarded during the remainder of the current fiscal year; Stock (+29% since May) has set a new 52-week high in trading tonight
Ligand Pharmaceuticals (LGND) 8.33 -1.18 (-12.4%)
Small-cap drug company that focuses on a variety of diseases reports a Q3 (Sept) loss of $0.09, which was worse than the Reuters Estimates consensus of breakeven; Revenues also missed the mark at $49.5 mln versus the consensus of $58.8 mln; Management's guidance also struck the market wrong - sees Q4 (Dec) EPS of $0.03-0.09 (consensus of $0.21); This comes despite an increase in gross margin on overall product sales to 76-77%
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