Midday markets: Cisco fuels tech-stock gain
Economic news created some mixed results on the broader markets by midday Wednesday, but techs gained on an upside earnings surprise from Cisco (Nasdaq: CSCO). The Nasdaq rose 49.
Economic news created some mixed results on the broader markets by midday Wednesday, but techs gained on an upside earnings surprise from Cisco (Nasdaq: CSCO). The Nasdaq rose 49.
As usual, Cisco Systems Inc. (Nasdaq: CSCO) cruised past analysts' estimates in its first quarter Tuesday, pocketing $837 million, or 24 cents a share, on sales of $3.
Cisco Systems Inc. slipped Tuesday after its first-quarter earnings report, while its statementsabout inventory levels spurred a ripple of analyst actions and falling communications chip stocks.
Technology stocks perked up Wednesday on reports that information technology spending could be stabilizing after months of declines. The tech-heavy Nasdaq rose 10.
Technology investors lost their enthusiasm by market close Thursday, even after a chip-equipment rally and good economic news helped them shake off Cisco Systems-inspired blues earlier in the day. The Nasdaq fell 27.
News that Cisco Systems' heady growth may be over weighed heavily on technology stocks Wednesday. The Nasdaq fell 42.
Cisco System's third-quarter report after the bell took technology stocks for a tumble at midday Wednesday. The Nasdaq fell 27.
Two economic reports helped investors shrug off Cisco's warning at midday Tuesday. The Nasdaq rose 10.
Cisco Systems has been demoted to class-action lawsuit status. The crime?
Cisco Systems led technology stocks into a full-blown rally at midday Monday as economic data helped boost confidence that the United States can steer clear of a recession. The Nasdaq rose 82.