NEW YORK, Feb 25 (Reuters) - Shares of Home Depot Inc. , the world's No. 1 home improvement retailer, rose in pre-opening U.S. trade on Tuesday, after it reported better-than-expected fourth-quarter earnings.
Home Depot shares edged up to $22.69 on Instinet from their closing price of $22.18 on the New York Stock Exchange on Monday. Earlier Tuesday, the company reported quarterly net income of $686 million, or 30 cents a share, beating Wall Street's average forecast of 27 cents.
Shares of El Paso Corp. ticked up 60 cents to $5.15 from the close of $4.55 on the NYSE.
Earlier Tuesday, El Paso, the nation's biggest pipeline operator, said that it was raising its 2003 asset sales target to $3.4 billion from $2.9 billion after selling mid-continent oil and gas reserves to Chesapeake Energy Corp. for $500 million.
Shares of Cisco Systems Inc. , the world's biggest maker of computer networking equipment, fell to $14.10 on Instinet from the close of $14.42. Earlier Tuesday, Cisco said it would collaborate with long-distance phone company AT&T Corp. on product planning and sales to U.S. businesses.
The companies agreed to align their sales and marketing to promote the delivery of AT&T services that use Cisco technology.
On the broader market, stocks were poised to drop at Tuesday's opening bell, as indicated by declines in equity-index futures. Futures for the Standard & Poor's 500 Index were down 8.3 points at 824.30, while futures for the Nasdaq 100 fell 11 points at 983.00.