Market Roundup (CSCO, AMAT, AIG, MET, DIS)
Cisco Systems (NASDAQ: CSCO) announced that it "will forever change the Internet" tomorrow, sparking speculation that it is set to launch a new gear that will enable wireless phone companies cope with rising video web traffic.
Applied Materials (NASDAQ: AMAT) has announced a 17% hike in its quarterly dividend to $0.07 per share. The cash dividend will be payable on June 16, 2010 to AMAT’s stockholders of record on May 26, 2010. The company’s Board has also approved a new stock repurchase program for up to $2 billion in buyback over the next three years. The announcement has added pressure on other chip stocks to do the same.
According to Forrester, online retailing will grow 60% to $248.7 billion over the next five years. Revenues, growing at a 10% CAGR, are likely to account for 8% of the total retail sales in the US. Online sales, which slowed during the downturn, still outpaced sales at US brick-and-mortar stores.
Shares of MetLife (NYSE: MET) and AIG (NYSE: AIG) have both shot up following the Alico deal. Introspection on the numbers has indicated that the earnings impact could be stronger than expected.
Disney's (NYSE: DIS) has remained lackluster in the market, despite the bullish comments from Merrill Lynch and a huge success for Alice in Wonderland in the first weekend.
Read more from Benzinga's Markets.
