- First the reason the markets are down today is because it has received some poor economic data such as Jobless claims hit 360,000 last week, which is a six-week high, and most experts thought housing starts would fall to 970,000, not 853,000
- Shares of Cisco (CSCO) rose by more than 12% today because the company reported earnings yesterday after the closing bell; revenue of $12.2 billion, and earnings per share of $0.51 both beat analysts’ estimates.
- Another big reason why Cisco (CSCO) shares were on fire today was because is that the company is performing exceptionally well in developing nations and here at home. During a time of slow economic growth around the world, Cisco can still grow at a healthy pace, and investors see this is a positive.
Categories: Capital Markets