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Time surges on takeover reports; Walmart hits all-time high; Cisco pops on earnings

Justine Underhill
·Reporter

Walmart (WMT) beat on earnings and revenue, with same-store sales rising more than expected. The retail giant also boosted its full-year forecast, sending the stock to an all-time high.

Cisco (CSCO) shares are soaring to a 16-year high. The computer networking company reported profit and revenue beats, and also raised second quarter 2018 guidance. Investors are betting Cisco’s big turnaround strategy is finally showing up on the bottom line.

Time Inc. (TIME) shares surged over 23% on reports that Meredit is teaming up with the Koch brothers in a bid to take over the media company. The stock is up nearly 35% this month, but is still down over 12% for the year

RH (RH), the operator of Restoration Hardware, raised its current quarter guidance and guided Q4 and 2018 margins above consensus, citing healthy sales and membership trends. upgraded at Citi.

NetApp (NTAP) posted a beat on earnings, driven by stronger revenues and margins. The data storage solutions company guided Q3 earnings 6% above expectations.