TheStreet Live

Cisco ( ) is cutting jobs as it transitions from hardware to software. In all, 5500 jobs will be cut. The business shift will also result in $400 million in charges. Cisco projected flat revenue in the first quarter and gave an earnings forecast that was shy of analysts's estimates. Oracle ( ) still claims was that Google ( ) had violated copyright when it used key pieces of its java technology to build Android. A court didn't agree with Oracle's claim. However, Oracle believes Google tained the jury's verdict. There's potentially billions at stake as Android is the most used operating system in the world. Nestle's sales are growing but profit is down. The Swiss food company says that's because of weak pricing power. The maker of Kit Kat bars said sales in the United States, Europe and Latin America were strong but China continues to be a problem. Weekly jobless claims are released today as is the Philadelphia Fed Business Index. San Francisco Fed President John Williams speaks today in Alaska.

The S&P

Stocks posted slight gains as another rally in crude oil overshadowed lingering concerns about the Federal Reserve and its divided opinions on interest rates. Crude has climbed for the past six sessions.

U.S. stocks slipped Thursday as investors analyzed quarterly results from Walmart and Cisco .

Cisco Systems (CSCO) could be cutting 20% of its workforce. The Silicon Valley Based company is expected to make the announcement in the next few weeks, according to the tech news site CRN. In all, 14,000 jobs could be eliminated. Cisco has been investing in new products and technologies to offset sluggish spending by telecom carriers on its main business of making network switches and routers. Lowe's (LOW) earnings and revenue fall short of expecations. Same store sales at the home improvement retailer also came in less than expectations. Investors are on the sidelines as they await the latest Federal Reserve meeting minutes. The minutes could reveal if an interest rate hike is still on the table this year. Some market watchers think recent economic data as well as comments from Federal Reserve governors could lead to Fed to hike rates at its September meeting.

Wall Street was short-changed of any clarity over a rate-hike timeline after the release of minutes from the July meeting showed a split Federal Reserve. Stocks fluctuated through the afternoon before settling slightly higher. Officials showed relief that risks to the economic recovery had eased, though were divided on whether that meant the Fed was ready to hike rates. Two members pushed for a rate hike in July. Marcato Capital has upped pressure on Buffalo Wild Wings to shake up its C-suite. The firm, which owns a 5%

Stocks fell further from record highs as quarterly disappointments from Target

U.S. stocks turned mixed Wednesday as investors awaited the minutes of the Federal Reserve's July meeting.

Worries over the next rate hike superseded joy over the four-day rally in crude oil, sending stocks into the red and away from their record highs. The chances of a September rate hike rose after hawkish commentary from the New York and Atlanta Federal Reserve presidents. Oil prices settled at a one-month high on hopes over an output freeze among OPEC members when they meet in September. The crude rally brought the energy sector big gains with major producers Shell, Total and BP all in the green.

Stocks backed off records as stronger-than-expected economic data and hawkish commentary from the Federal Reserve's William Dudley increased the chances of a near-term rate hike. July housing starts and industrial production topped estimates earlier in the day.