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Leigh Baldwin & Co.

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Diamonds and Dogs

05/10/12

Cisco Systems Inc. (CSCO)

Cisco's system is crashing today, down 10.28% at $16.85. This marks the company's biggest percentage drop since February 2011, making it the biggest drag on the market. The Dow component reported higher-than-expected earnings but said the latter half of the year was "really hard to read" as customers were more cautious about Europe. Late Wednesday, the company reported third-quarter net income of $2.17 billion (40 cents per share), compared to $1.81 billion (33 cents per share) a year earlier. Revenues increased 6.8 percent to $11.6 billion in the same period. While this is a good report, the company seems weary of their future earnings, which has scared investors out of the stock. Furthermore, at least 10 brokerages cut their price targets for Cisco.

Monster Beverage Corporation (MNST)

Monster Beverage has tons of energy today, up 9.32% at $71.39. The energy drink maker beat Wall Street expectations with a 38 percent increase in its first-quarter profit. Monster Beverage said late Wednesday that its net income rose to $76.1 million, or 41 cents per share, from $55 million, or 29 cents per share in the same period a year ago. Net revenue grew 28 percent, to $454.6 million. Analysts were expecting a smaller profit of 38 cents per share and revenue of $446.6 million. The company said sales of its energy drinks remained strong and growth continued for its Monster Rehab non-carbonated energy drinks. Since April it has started selling Monster Energy drinks in Hong Kong, Macau, Japan, and Ecuador, and it plans to launch them in other markets later in 2012. Monster is an appropriate name for this company today.
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