cisco turned in 11.88. expected 46 cents and cisco turned in 48. guidance was in line. cisco ceo john chambers telling cnbc that he wanted to meet expectations on guidance and be able to perhaps outperform that. so optimistic tone from him on that. 6% revenue growth is what cisco turned in above the 5% target that wall street was looking for and gross margins were pretty well as well. a few other details. says that cisco is committed to china, despite the choppiness in that market. right now they'll stick with it and that that choppiness is factored into cisco's guidance. also said that the core routing market he expects to grow in the mid single digits going forward. he also mentioned the services business, which has been growing stronger. he said he expected over the next three to five years that the services business as a share of rev of cisco's overall revenue would grow. it won't just grow in overall terms. also said he expects to deliver more details on that at cisco's analyst meeting, just coming up next month. back to you. >>> president obama gets more input tod

you rate cisco as sector perform. knowing what we know right now, mark, would you commit new capital to this stock? >> i think where the stock is at the moment, i think it's going to trend in line. i think if they can boost their dividend, which is around 3 t.2 that might help is a little bit. >> all right. we'll leave it there. thanks very much, mark. back to you soon with more on the cisco story. first, let's get to john fortt with more headlines. >> maria, just a couple things i wanted to point out. one is the gross margin. my quick arithmetic points to a 69% gross margin. not thrilling, but not bad. also, 6% revenue growth. that's above the 5% that some had seen as a relatively low bar. not in the range where they used to be. chambers is already guiding below that. 6%, i think a lot of people are taking as a good thing. also, they repurchased 15 million shares at $16.44. that's slightly below where the stock is trading right now. that's not bad news either. >> all right, john. thank you very much. stocks still try

john chambers, cisco chairman and ceo. liz: we are close to the lows of the session, let's get to nicole on the floor. what is going on? nicole: people talk about the fiscal cliff. would they talk about demand for potash and the fertilizer company mosaic to the down. it is down 3.4%. they talk about the man in the near-term, challenge next to it is potash, that is down nearly 3%. part of it is demanded that deals with china which mosaic says they hope they will come for next year. this may be a short-term problem but it is hitting these two stocks directly here today on a day when we got hit pretty hard. we are down 185 points. over half of the names in correction mode. liz: people still need to eat. dan is with us, capital management csi 0. you said don't hide. you promised three names. look at potlatch and mosaic. >> we look at the charts there. those stocks, cycles, markets are very different and tight, inventory depletion and restocking. i happen to think those are interesting companies to look at full backs. liz: thre

still ahead, a trader explains why he's all about buying shares of cisco and dell. chart talk is next! tim biggam of tradingblock joins us now for a closer look at a couple of tech stocks. are tech stocks back in favor with you tim? > > i think the tech stocks that were really out of favor earlier started to come back into favor because of the relative valuations and also the nice dividend yield in this market environment. so, two names that had kind of been thrown to the wayside, dell and cisco, i kind of like down around these levels. > > let's talk about some levels were you would buy, starting with cisco systems. what is your buying point on this stock? > > really anywhere around here. they came out with what i thought were really nice numbers, not only on the earnings side, but more importantly on the revenue side. this stock has gotten sold into submission with fears that government spending, which is a big component of cisco, will fall off that fiscal cliff so to speak. but not the case, and cisco is priced for utter disaster. so, i also like it on a yield ba

pretty good news on cisco. some people were very concerned because i have so much revenue, with cutbacks in government they were worried about that, but full steam ahead for cisco, that is good news, right? >> two pennies better than expected. without getting caught up in it, i think it gives more efficacy to the tech sector in general valuations in technology trading at 12 to 14 times realistic price to earnings ratio, ample free cash flow generation and the sector has been weaker because the market has been weaker. longer-term there are great place that can include other large-cap names such as oracle or google selling attractive valuations. david: you are not selling oracle, why is that? >> did not get clearance from my traders. i think on a valuation basis that can be a compelling story as well. david: what about apple? that is a bellwether for tech stocks in many ways. it has been beaten up badly, will that continue to go down or might it get in earning from cisco? >> no doubt apple is a great company with

cisco's server business did quite well. they are not just selling networking gear, they are selling the whole solution so we think that -- we're still cautious on names like dell and hp. >> good to speak with you. >> we have some breaking news here on john mcafee. we'll go back to cnbc headquarters. >> belize police tell me that john mcafee is not a prime suspect in this murder. mcafee is just a person of interest. this distinction is very important. they tell me they have no evidence linking him to this crime as of yet. they haven't even recovered the bullets from the body of the victim. they are simply interviewing everyone who lives near the victims. mcafee was a neighbor of this american victim who was killed over the weekend. mcafee has had a dispute with this neighbor over mcafee's dogs but police say they have no evidence linking him to this crime. they just want to talk to him as they are to every neighbor of this victim to see what he knows. as they tell me "we don't know why mcafee is in hiding or what he's afade

so, for cisco that's good news. this could help propel a rally.t the markets still look to be a little weak here, so i wouldn't get real excited, but i am excited for cisco. > > we'll see how those traders digest the news all day. good to have you on the show. have a great day. > > thank you. pressure is building from corporate america for congress to reach a consensus before the country falls off the so-called fiscal cliff. president obama is holding nearly a week's worth of discussions with activists and business leaders from across the country. labor leaders who spent time at the white house tuesday say the president remains committed to tax breaks for the middle class and higher taxes for the wealthy. also yesterday, tech executives from dell, intel, ibm and more warned congress and the president failing to take action is "unacceptable." today he meets with the ceos of ge, walmart and other corporations. david siegel, the ceo who told his employees that some of them would face layoffs if president obama was re-elected, instead handed out 5% ra

cisco first quarter results are beating the street. brian white covers the company for topeka capital markets. if i don't ask you about the fiscal cliff, there's no reason to even have me on. what do you think? >> it's surprising that cisco was able to deliver a very strong quarter and a very -- >> with all the uncertainty. >> with all the uncertainty. i just look back at tech, you know, this season was horrible. we cut numbers on 71% of the companies for the december quarter. i would say cisco and the tech world was probably the bright spot. they put up some very good numbers last night. >> cisco was one of the few tech stocks a couple years ago to regain a lot of its luster and trade back above $30. i remember it. can't even see it on the chart we're showing right now. i remember when chambers finally said some of the macro factors were starting to affect cisco. and here we are still below 20. what will tell you that this company actually turned the corner and can get back to trading in the mid 20s, high 20s? >> i think a couple thin

we have the tech stock, but it is not cisco. >> it is not cisco.lthough it is a little bit on cisco tales. you don't have to work on letting out all the dots. up in that part, some other little guys. an open-source project they are involved in, also being involved in andre android 4.2. talk about apple but android is making amazing moves and sing a whole lot of market shares. it probably will trade twice the average daily volume. coming on this week with the market down, this is dangerous talking for brought calm, like the valuation. cheryl: apple is not the only game in town, that is for sure. dennis: some of the big banks left out, the ceo summit the president the new war brewing. cheryl: and wind power. how they want the federal government to blow new light into the alternative energy source. dennis: his other world currencies are faring against the u.s. dollar. [ malannouncer ] it'that time of year again. time for cii price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to.

when juniper and hewlett-packard were off of cisco doing well and cisco was killing them. come on. by association. speaking of walgreen's and express scripts they're a big part of the reason why i've liked cvs for so long. last year these two companies got into a dispute which ended with cvs removing it -- making it so 90 million expression scripts prescription koz no longer be filled at walgreen's. that gives cvs a fabulous opportunity to take share. they buried the hatchet in july something that caused cvs to drop $4 in a single day. but now it looks like the damage is already done. many of the customers that switched from walgreen's to cvs, they seem to be staying at cvs. the dispute between cvs and wuhl greene has been and remains a big win for cvs. this pharmacy benefit manager side. there it is again. the express scripts merger with medco health which closed in april. medco came with a lot of problems it turns out. the integration could allow cvs caremark to do better in the selling season for 20 they rachl p up for the coming years. just like walgreen's express scripts probl

cisco ceo coming with me on the show as soon as earnings come out. that will be at the top of the next hour. and nyse ceo with us giving us an update two weeks after sandy historically closed sandy for two days. >> still a miracle they got things open when they did. we're oall following the latest in the general petraeus scandal. unbelievable twists, even today. we have a roreport from washington. then, more on how this story is shedding light on how anything you write can be accessed. pretty scary stuff and something to think about. >> really. in the markets right now, fractional gains right now. the dow jones industrial average off the best levels of the afternoon, but still showing a gain of about 17 points. looks like investors wait and see until we get some solutions on the fiscal cliff. nasdaq is negative by a fraction. down about four points. off of the worst levels, by the way. s&p 500 is up about 3 3/4 points at 1383. >> in today's "closing bell" exchange, we have carol roth, bruce mccain, and our own rick santel santelli. rick, i'm going to

k., like cisco here? >> as a value play i'm not terribly excited about it.ohn cahamberchambers, we had t conversation about john chambers that we did about microsoft and people were saying he shouldn't be managing. he's executed. he turned the company around. he's working in this environment and shows up in the revenue and the forecast. >> the other thing that's important is people are so obsessed with the gross margins. he was almost, i thought, saying, listen to what we're doing. this is a different revenue mix. and these data centers are not going to be high margins but they're growing. the thing he also, again, ta talking about the global economy, he wasmaria. i'm surprised we haven't spent more time on this show because this is a guy we used to spend hours analyzing every he said. i think this -- >> this isless of a bellwether, isn't it? >> they've certainly moved into that kind of low multiple value trap tech stock, but the end of the day they are still in everybody's business and people want to know whether the federal governments are doing, what euro

and, warmer than that in sonoma and glen allen. >>> and think of cisco, and monday and tuesday. those days will break some records here locally. in wednesday as our transition day. thursday clouds up and there's a slight chance of rain on thursday. a better chance on friday with a weathered beginning to improve ever so slightly on saturday. speaking of saturday, that is tonight, we get to set our clocks back one full hour of daylight saving time comes to an end. then we return to standard time. >> while the power of gratitude of getting things can do wonders for your mind and body. doctor kim mulvihill explains how he can keep you healthy. >> halloween may be over but don't tell these guys. >> and i said, yes, where your halloween costumes again. >> and that makes her thankful. >> i'm thankful that we got out of the house without tantrums because we just were halloween costumes. >>> two years ago is hard to imagine her doing anything. her twin boys were born by emergency c-section 15 weeks early and spent three months in intensive care, but instead of falling apart, she began to

csco. >> listen sunshine, that cisco quarter was terrific. i think you should buy buy buy cisco.n texas, ben. >> university of texas booyah to you. >> hook em, what's up? >> graduating senior looking at paa. >> stop looking start buying. that is the stock you have to buy. people feel that may be peace in the mid east. >> this is michael from newport beach. my stock is intel. >> i'm going to say wait for the 4%. i don't see why you need to own it. sell it only when it yields back at 4%. that is the conclusion of the lightning round. >>> coming up. bottoming out? there is a lot weighing on this market. fiscal cliff fears, a frail recovery. after weeks of a retreat, is a turn coming? cramer is charting the technicals in tonight's edition of off the charts. scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science.

cisco systems reporting earnings today after the closing bell.a look sat the shares. -- take a look at the shares. very little change in today's session, in fact completely flat at the moment. shares of the company down more than 11% over the past year. for the company's fiscal first quarter analysts are expecting earnings of 46 cents per share on revenue of 11.77 billion dollars. investors should be watching for the effects of slowing global economies that has hit cisco's bottom line in past quarters plus revenue growth. watch revenue growth which like margins we have seen it declining over the past few quarters. finally, watch out for a possible dividend increase this quarter. liz claman will be interviewing john chambers, the chairman and ceo of cisco tomorrow afternoon in the 3:00 p.m. hour. don't miss full coverage of ternings report in -- of the earnings report in less than half hour after the closing bell. right how the we continue with cheryl casone. cheryl: what a day we're having. let's bring in nicole petallides at the new york stock e

that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ >>> welcome back. the 2012 election is barely over. would you believe political junkies are wondering who may be running for president in 2016? paul steinhouser takes a look at the names being whispered in political circles. paul? >> reporter: susan, call it the never ending campaign. when one election ends, the next one begins. >> i have just called president obama to congratulate him. >> i just spoke with governor romney and i congratulated him and paul ryan on a hard fought campaign. >> reporter: with the 2012 election barely in the rearview mirror, we're already thinking about the next road to the white house. marco rubio heads to iowa next weekend to headline a republican event. does the popular gop senator from florida have designs on running for the next republican nomination? a source close to rubio says that kind of talk is way t

cisco, biggest gainer on the dow, nearly five times that of hp. a lot going on in the enterprise space today. that does it for us. let's get back to headquarters, w wapner and "phat money halftime yt ". >>> it is thus far a down day on wall street. dow industrials down by 50 points. here's what we're following on the "half" today. new coke. we're talking -- we're not talking the soft drink but america's most loved stock. is apple becoming more like the real thing? about face. facebook symptom surges even as millions of shares hit the market. is the expiration of the biggest lock-up your signal to buy? first our top story, locked out. when president obama meets with several of the nation's most influential ceos at the white house today to discuss the fiscal cliff and the economy, not a single banking boss would be in attendance. not jamie dimon, not lloyd blank fine. no one. how is it that wall street has no representation in wall street today when the fiscal cliff is by far the issue that matters most to the markets. >> thanks for inviting me on.

a at cisco systems reported quarterly profits. cisco competes with chinese company -- both make networking equipment that makes the internet go. the house intelligence committee labeled as unsafe to use. citing concerns over chinese spying. >>> a sign of the times chip maker amd reportedly looking to sell itself to highest bidder. chip companies may put the word silicon in silicon valley but have struggled lately as the world has turned away from traditional computers towards mobile devices. amd and cross town rival intel have had trouble making that pivot. amd have had layoffs lately as well. >> all right. thank you very much. >>> not an official holiday but a day of celebration for skiers and snowboarders. tahoe area resorts starting their season today. s north store opens today. kirkwood and squaw valley will open on friday. mt. rose in sierra at tahoe will open next week. they are going to get -- we are going to get another storm from it. more snow. >> two more storms coming through. >> yeah, yeah. we have a lot of rain. you a

past year, i continue to press for, is the establishment of the veterans court in the city of seven cisco such as they have in san diego and other places. their very successful. michael is a tremendous resource to help make this a reality. he will be very helpful on the commission. john gallagher, he has contact with hundreds and hundreds of veterans and the city who seek services through the va and the state of california, and brings a unique perspective. and his young gentleman, lee burnett is a great resource because of his connections with the universities and so on. there is another seat that will be opening up; i'm sure the committee is aware of it, it is not open now. because of his resignation. some of the other qualified candidates will have opportunity in the future. >> supervisor kim: thank you for being here again. >> my name is dottie -- i am in the seven cisco affairs commission, also work in the oakland center. i have nothing else to say because they took out all of the words from my mouth. michael -- and lee burnett, would be perfect additions to the commission. >> supervi

back here at home, cisco systems bought private networking company maraki. cisco will pay $1.2 billion. maraki is greek. intel says the ceo paul ottelini will retire. no replacement has been named yet. and ac/dc finally on itunes. one of the last bands not on the apple music service. country star garth brooks is the last major holdout. you talk to teenagers who are the biggest music buyers and they left itunes in droves in favor of spotify. >> i still do the itunes thing. >> i don't do any of it. i'll really old school. >> she has tim mcgraw cds. >>> meteorologist christina loren. i cannot speak to him. >> she loves him. she is also a garth fan. when the thunder rolls around the bay area. good morning to you. we have a good-looking day shaping up. look at this. it is almost like someone painted this picture. perfect air quality in san jose. you can completely see for about ten minutes or better. visibility is fantastic. winds picking up a bit. they are offshore winds east/southeast. as we head throughout the day, the fog is not going to roll back in. in fact

cisco systems reporting quarterly profits. competes with chinese company, both make networking equipment to make the internet go. the house intelligence committee recently labeled the unsafe to use and citing concerns over chinese spying. >>> sign of the times, chip maker amd reportedly looking to sell itself this morning. chip makers put the silicon in silicon valley but struggled as the world's turned away from traditional computers torld mobile devices. trouble making that pivot. amd has had layoffs as well. >> amazing how quickly things change, too. yeah. thank you so much. >>> all right. happening right now, efforts under way to have this fresh local dungeness crab available tomorrow. very first day the commercial crab season opens up right here in the bay area. bob redell here is live in san francisco. he just spoke to some of the fine gentlemen that will be bringing those crabs, fresh crabs, to our table. good morning. >> reporter: yeah, good morning to you. look at a boat heading out now towards the golden gate. this o

wait til my wife's phone hears about this. [ cellphone vibrating ] [ female announcer ] with cisco atether has never worked so well. [ female announcer ] with cisco at the center, [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protects them. [ thunder crashes ] it doesn't. stop pretending. only flood insurance covers floods. ♪ visit floodsmart.gov/pretend to learn your risk. . >>> you know, for years, i have been talking about the dangers of obesity. and believe it or not, today i have good news to report. philadelphia has been on the front line of this epidemic, but also recently turned the tide. and childhood obesity is in fact going down. the question is, how did they do it? well, a big part of the answer is right on the corner, the corner store. philadelphia is known for food, after all, known for the philadelphia cheese steak. after all, it is one of the most overweight cities in the country. and especially in a city where poverty and violence are also high, so it is not easily done. >> patients and doctors

>> there is hardly any better run company in the company than cisco.e's right on the money. but what he knows if the market doesn't know is bit of a mystery to me. >> what are you doing these days is this. >> just my usual. the broadest possible index. bti and i'm very, very happy if i can keep up with the market. i'm a happy guy. >> what do you think of thnext few weeks of the market, ben? >> i think it will be a choppy time. but the day before they reach a deal on the fiscal cliff, the market will correct to the upsigned and it will be great stuff. >> we'll wat

cisco says earnings rose 18% over the last quarter exceeding $2 billion. after hours trading has the networking company up more than 7%. >>> the san francisco based zynga has lost another senior officer. the move comes with a reorganization of zynga's top management. zynga is best known for its farmville and cityville games. >>> a man has recanted his claims of having sex with a sesame street puppeteer when the man was a teenager. he went on leave from sesame street yesterday when the claim of underaged sex first came to life. the unidentified man now says their relationship was adult and consensual. clash says he is relieved that this quote painful allegation has been put to rest. >>> we are along a small creek in placer county that a long time ago had a healthy salmon run. we'll tell you what's being done that may make that happen again. >> right now i'm tracking the heat and then i'm tracking the rain. it's all headed your way. we'll have details of everything coming up here in just a couple of minutes. >>> the executive director of the port of oakland

earnings reports are out from home depot, wal-mart and cisco. cisco was downgrade on friday. day is observed. the bond market and will be closed. and we will get retail sales numbers for october. a sign of how well the consumer is doing and consumer price number. and on thursday the consumer price index which measures inflation for consumers. if you were planning to watch football after thanksgiving dinner this year, you may want to reconsider. wal-mart says it will kick off the holiday sales rush at 8 p.m. on turkey day this year. the world's largest retailer is betting on the eagerness of consumers to spend big this season. a critical time of the year for what amounts to a quarter of wal-mart's annual sales. >>> we may have to rename black friday. that will do it for us. thank you for joining me. join us next week. we will be talking about america's energy source, natural gas, fracking than environment. each week keep it here where wall street meets main street. i will so see you next weekend. [ female announcer ] this is the story of joycelin... [ joycelin ] it was a typic

working together has never worked so well. [ female announcer ] with cisco at the center...erintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. >>> going to end this hour with some sights and sounds from the veterans parade right here in downtown atlanta. nationwide young and old lined the streets of their towns and cities to celebrate freedom and wave their flags in honor of those who have done so much to protect it. let freedom ring, indeed. >> beautiful horses. ♪

cisco cast co was downgraded friday. banks closed monday. on wednesday, we get the open market committee's latest meeting. we will also get the retail sales numbers for the month of october, a sign of how well the consumer is doing. and the producer price index out next week, a measure of inflation on goods produced. thursday, we get the consumer price index, which measures inflation for consumers. >>> and finally, if you were planning on watching football after thanksgiving dinner this year, well, you may want to reconsider. walmart says it will kick off its holiday sales rush at 8:00 p.m. on turkey day this year. the world's largest retailer is betting on the eagerness of consumers to spend big this holiday season. a critical time of the year for what amounts to a quarter of walmart's annual sales. >>> we may have to actually rename black friday. that will do it for us today. thank you so much for joining me. join me next week. we'll be talking about america's crucial and plentiful energy source. natural gas, fracking, and the environment.

. >> traffic has yet to loosen up the evidence is salmon cisco.slow commute all of the approaches leading up to the bay bridge toll plaza. it will be a slower ride up the incline in to san francisco. it started with a stall from a long time ago although it is i the way it is still inching along for a ride to the city. traffic tracker is picking up slowing on the nimitz freeway. an accident at 880 south and said quickly jammed up your ride. southbound ride really busy in both directions between downtown oakland in the coliseum. give yourself extra time. the nimitz as you are carry southbound from san leandro and to hayward just before to 38 big stars to bunch up here. 92 as low the price of 92 will be busy across across the san mateo bridge. if you continue southbound toward canadian city it will be is stop and go right for you there. it loosens up before you reach fremont. >> developing news out of the fremont area were all for send all shooting has left one person dead. will tran has been falling this story all morning long. >> they are still her

the sole winner among dow industrial stocks was cisco systems. the internet equipment maker fought the weak market all day thanks to its surprisingly strong quarterly financial results. shares jumped 4.8% on heavy volume. financial results from other tech bellwethers have been less than stellar, so cisco's better than expected earnings were greeted with some relief, even though it warned its european business will continue to be a drag. other big stocks in the dow, were falling hard. bank of america down 3.6%. general electric falling 3.2%. home depot was at more than a decade high yesterday. today, some profit taking, down 3%. while there were fewer buyers than sellers for most stocks, retailer abercrombie and fitch saw buyers rush in, pushing the stock up above $40 per share for the first time since may. third quarter earnings were much better than expected. abercrombie earned $.87 per share, almost 50% more than anticipated. better inventory control met fewer sales, coupled with strong sales in scandinavia and china. here's that stock pop, up