Cisco’s Acquisition, Wal-Mart Workers Strike, and Nokia Sells Out: Afternoon Buzzers
Stock futures are climbing Monday afternoon on news that preliminary discussions about the fiscal cliff in Washington were constructive. Policymakers will head home this week for Thanksgiving and hopefully keep the pace up after the break.
Wal-Mart (NYSE:WMT) employees seeking better pay, better treatment, and better benefits will launch as many as 1,000 strikes online and at retail locations on Black Friday. The demonstration will be the largest to date for Wal-Mart employees, but observers note that unions and organizers will need to make a much louder statement if they want to see real change.
Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.
Cisco (NASDAQ:CSCO) will expand its software-focused networking capacity with the $1.2 billion acquisition of Meraki Inc., a cloud networking solutions company based in San Francisco. The announcement on Sunday indicates Cisco’s commitment to developing and delivering solutions to cloud-based networking problems for its IT customers. Shares climbed about 1.45 percent today afternoon.
Shares of Chinese mobile and media tech company SINA Corporation (NASDAQ:SINA) jumped as much as 8.09 percent in the afternoon after e-commerce titan Alibaba Group reportedly buys a 15- to 20-percent stake. Any possible investment is unconfirmed, but the Chinese paper that originally aired the story suggests Alibaba is interested specifically in Sina’s Weibo social networking service.
Shares of Lowe’s (NYSE:LOW) gained as much as 6.41 percent today after the company reported third-quarter 2012 results. Revenue grew 1.9 percent year over year to $12.1 billion while earnings grew 94.4 percent to $0.35 per diluted share. Comparable-store sales were up 1.8 percent for the quarter.
Investors who have stayed with Nokia (NYSE:NOK) for six straight quarters of losses may finally start to see some green. Shares climbed as much as 5.78 percent today on news that the Lumia 920 is selling out in Germany. Strong sales could ease fourth-quarter challenges pointed out in the company’s last earnings.
Don’t Miss: Will Best Buy’s Huge Gamble Help Defeat Amazon?