Cisco, Whole Foods shares drop after hours

LOS ANGELES (MarketWatch) � Cisco Networks Inc. shares fell Wednesday evening in the wake of a price run-up and a mixed forecast from the networking gear maker, and Whole Foods Inc. shares dropped after some disappointing figures from the upscale grocer.

/quotes/zigman/20039/quotes/nls/csco CSCO 21.14, +0.17, +0.81% Cisco Systems Inc.

Cisco shares CSCO fell 1.8% to $20.78, giving up earlier gains. On a conference call with analysts late Wednesday, Cisco said it expects revenue in the current period to grow between 4% to 6% from the same period last year. Analysts polled by FactSet were expecting, on average, growth of 6.3% for the fiscal third quarter.

Cisco also forecast third-quarter adjusted earnings of 48 cents to 50 cents a share, in line with Wall Street�s projection of 49 cents a share.

For its fiscal second quarter, Cisco said adjusted earnings were 51 cents a share, better than the FactSet consensus estimate of 48 cents a share. Sales rose 5% to $12.1 billion compared with expectations of $12.07 billion.

Ahead of the latest financial results, Cisco shares had climbed 25% since the company�s fiscal first-quarter report was released in November. Read more about Cisco's results, forecasts.

Whole Foods Upscale grocer Whole Foods misses analyst expectations for same-store sales.

Whole Foods shares WFM slumped 6.1% at $90.95, but were off their worst levels of the late session. The drop came as the company�s 7.2% increase in fiscal first-quarter same-store sales missed analyst expectations, and as Whole Foods projected lower gross margin in fiscal 2013.

Earnings at Whole Foods for its fiscal first quarter were 78 cents a share, a penny a share above Wall Street�s consensus call. More on Whole Foods's Q1 report.

Shares of Weight Watchers International Inc. WTW �suffered, losing 16% at $45.60 after the weight-management services company projected 2013 per-share earnings of $3.50 and $4. The forecast is below the current estimate from Thomson Reuters of $4.75 a share in earnings. See: Weight Watchers Q4 profit falls, issues weak 2013 view.

But shares of Angie�s List Inc. ANGI soared, rallying 21% to $16.48 after the company, whose members write reviews of local service providers, swung to a fourth-quarter profit. It also issued a first-quarter outlook that surpassed analyst expectations. See: Angie's List reports upbeat results.

Before the evening session, the S&P 500 Index SPX rose less than 1 point to 1,520.33. The Dow Jones Industrial Average DJIA fell 36 points, or 0.3%, to end at 13,982.91, giving up earlier gains, while the Nasdaq Composite Index COMP picked up 0.3% at 3,196.88. More on Tuesday's action in U.S. stocks.