Category: Companies / November 14, 2013 5:05 PM EST
Wal-Mart Stores, Inc. (NYSE: WMT) reported fiscal third-quarter earnings that beat Wall Street expectations by a penny, as the world’s biggest retailer said profit rose 2.8 percent to $3.73 billion, or $1.14 per share. However, Wal-Mart lowered its full-year guidance and now expects earnings of $5.11 per share to $5.21 per share, down from an earlier outlook of $5.10 per share to $5.30 per share.
On Thursday, shares of Wal-Mart edged up 0.23 percent to close at $79.08.
After the closing bell on Wednesday, Cisco Systems, Inc. (NASDAQ: CSCO) issued fiscal first-quarter earnings excluding items of 53 cents per share on revenue of $12.09 billion, compared with earnings of 48 cents a share on revenue of $11.88 in the year-earlier period. Wall Street had expected the company to post earnings excluding items of 51 cents a share on revenue of $12.3 billion, according to Reuters.
In addition, Cisco said it expects an 8-10 percent drop in revenue in the current quarter.
Shares of Cisco tumbled 10.96 percent to close down $21.36 on Thursday.
Kohl's Corporation (NYSE: KSS) said fiscal third-quarter net income fell 18 percent to $177 million, or 81 cents per share, on revenue of $4.44 billion. Wall Street had expected the retailer to report earnings of 86 cents per share for the quarter, on revenue of $4.55 billion, according to analysts polled by Reuters.
The company also cut its full year earnings forecast to $4.08 per share to $4.23 per share, down from a previous estimate of $4.15 per share to $4.35 per share.
Shares of Kohl's dropped 8.08 percent to close at $53.55.