Cisco Systems Quiet Ahead Of Q1 Report

'' Cisco Systems

shares are trading higher by $0.08 at $29.31 in Wednesday's session. The company will announce Q1 results after the close. The Street is looking for EPS of $0.53 on revenues of $12.07B After posting a Q1 beat of $0.01 on February 11, it had one of its biggest one day gains in years rally from its close on that day ($26,93) all the way to $29.46. Over the next few weeks it drifted to $30.31,which was the first time it was over $30 since November 2007. However, it reversed course and surrendered all of those gains by late March before staging another rally back to the mid $29 handle. Over the last two days, it has been finding resistance in a similar area. On Tuesday it peaked at $29.44 and so far in today's session it has peaked at $29.47. On the downside it has not come close to Tuesday's low ($28.80), only reaching $29.13.