More fear from Europe pushed the Dow Jones Industrial Average
Networking after the bell
Cisco will report earnings after the market closes, and investors will get further information on the progress of the company's restructuring efforts that began last May. This restructuring is meant to "simplify" its operating model, as well as focusing on its core business, collaboration, data and the cloud, and video. And last quarter, Cisco saw a 1.1% increase in gross margins compared with the previous year because of "lower overall manufacturing costs, including benefits from value engineering."
Analysts expect earnings per share to be $0.47, up from $0.42 from a year ago, while revenue is expected to ring in at $11.58 billion, up from last year's $10.86 billion.
Combine the Greek drama, the French election of Francois Hollande, who favors more spending versus the previously planned austerity, and the resignations in the Dutch government over a failure to agree on a budget, and investors fear the political uncertainties. While American indices such as the Dow and the S&P 500 have gained more than 5% this year, European indices such as the FTSE 100
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