Earnings roundup: Cisco, Palantir, DraftKings

Yahoo Finance's Julie Hyman, Brian Sozzi, and Myles Udland break down the latest earnings reports from Cisco, Palantir, and DraftKings.

Video Transcript

JULIE HYMAN: We want to run us through some of the other earnings numbers that we got out as well. Cisco is one of the companies that reported. The shares are up 7% in the premarket after it posted a smaller than estimated drop in revenue. I know that you're watching this Sozzi. There was also a new executive announcement, a new CFO at the company.

BRIAN SOZZI: Yes, Julie, Cisco, a very, very exciting company. I know Myles really enjoys watching and covering Cisco. But I will add here too why you're seeing the stock up in the premarket. It is really this common, here by Cisco CEO Chuck Robbins is was on the conference call. We saw encouraging signs of improvement in certain areas of our business. And that's all the market need to see.

The quarter wasn't that good. Chief among that, you saw the sales in the Americas fall 10%. It's a lot of pressure on servers. But again, the market could absolutely care less. They're really focusing on Robbins' comments here.

JULIE HYMAN: Yeah, it seems that way. All right, let's also talk about Palantir. Those shares are down 1.5% in premarket trading after that company came out with its numbers. The shares, though, have been doing quite well since they started trading. Myles, it's interesting here, because the company beat estimates, it looks like.

MYLES UDLAND: Yeah, they beat estimates. They also raised their guidance for the full year. But as you mentioned, Julie, the stock had been up 50% in the week or so ahead of this report. And so I think we've talked about this on the show yesterday. The direct listing sort of came to the market with a bit of a thud. And there's been a lot of skepticism around the model here.

So even with a good quarter, I think that run up in the stock has had some people pausing here. But again at 14 for a company that was trading under 10 not too long ago, I think the team there will take it.

JULIE HYMAN: Yeah, I suppose so. Let's also quickly talk DraftKings. Those shares are up 11% in premarket trading, big surge for DraftKings. It had a smaller loss than estimated, higher revenue, although not by much, than estimated. Monthly unique players at the sports bidding company up 64% to more than 1 million.

Remember that the company came-- it started trading in April because of a SPAC, through a SPAC deal. And the stock has surged since then. The CEO Jason Robbins, by the way, going to be on Yahoo Finance coming up at 11:30. So we'll get more insight into how those numbers came about and how the company is doing.