Cisco warns that 4Q numbers will fall short

Cisco warns that 4Q numbers will fall shortCisco Systems Inc., the biggest maker of computer networking equipment, forecast fiscal fourth-quarter sales and profit that fell short of analysts' estimates as large corporate customers hold off on purchases. Profit before some costs in the period ending in July will be 44 cents to 46 cents a share, Cisco said. Revenue will rise 2 percent to 5 percent from a year earlier, Cisco said, indicating a range of $11.4 billion to $11.8 billion. Analysts on average had projected profit of 48 cents on sales of $12 billion, according to Bloomberg.

Cost Plus to be bought by Bed Bath & BeyondBed Bath & Beyond Inc., the operator of more than 1,000 home-furnishings stores, agreed to buy Cost Plus Inc. for about $495 million in cash to add its World Market and Cost Plus Imports chains. The offer of about $22 a share will be funded with available cash. The companies expect the deal to be completed in Bed Bath & Beyond's fiscal second quarter and add "slightly" to earnings in the current year. The deal would give Bed Bath & Beyond another e-commerce platform as it competes with retailers such as Amazon.com Inc. and Target Corp.

Small-claims award against Honda overturnedA judge in Los Angeles overturned a nearly $10,000 small-claims judgment against American Honda Motor Co. that was won by a car owner who said the automaker misrepresented that her hybrid Civic could get 50 miles per gallon. Superior Court Judge Dudley W. Gray II ruled on Honda's appeal of a court commissioner's award of $9,867 to Heather Peters. Peters had opted out of a class-action settlement giving about 200,000 owners between $100 and $200 each.

Facebook says growth in mobile ads is laggingFacebook Inc., the social networking service that is preparing for an initial public offering, said gains in daily users outpaced advertising growth in the second quarter as more members accessed the site from mobile devices. Facebook, which announced plans to sell mobile ads in February, also saw advertising growth lag behind usage in the first quarter, according to a regulatory filing.

Lots of noise but no revolt at BofA meetingDespite noisy protests inside and outside Bank of America's annual meeting in Charlotte, N.C., shareholders signed off on the $7 million 2011 pay package for the chief executive, Brian Moynihan. The company said 92 percent of shareholders voted in favor of the proposal, a so-called "say on pay" resolution that gives stockholders the opportunity to give a nonbinding thumbs-up or thumbs-down on executive pay.

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