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Solid results from Cisco Systems sent stocks surging on Wednesday.
Cisco's better than expected results also buoyed shares of Dell and HP, which will report their quarterly results next week. Shares of all three stocks gained more than 5% on the day.
Investors cheer Cisco’s glimmer of hope | Economy-Finance::
Aug 6, 2008 Last month, Chambers helped send Cisco shares to a one-year low just Stock Market » RPT UPDATE 1 RESEARCH ALERT Wedbush starts Intel… on
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24/7 Wall St.: Cisco Systems Pulls A Rabbit From The Tech Hat (CSCO)::
In the quarter, Cisco repurchased 83 million shares of common stock with an average purchase price of $24.04 per share (roughly $2 Billion spent).
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Cisco's results were welcome relief for investors, who have suffered through a number of high-profile disappointments since the quarterly earnings reporting season began last month. The company's assertion that business improved as the quarter progressed gave investors hope that the fourth-quarter slump will be temporary, but Cisco's mixed forward guidance left open the possibility that some weakness may still lie ahead.
InternetNews Realtime IT News - Sigma Tunes Into HDTV with Decoder ::
Cisco Sends Tech Stocks Surging · For Search Engine Use, Glass Almost Half Full. As the industry transforms its devices to digital formats,
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The Nasdaq rose 22 to 2266, the S&P 500 gained 10 to 1265, and the Dow surged 108 to 10,858. Volume rose to 2.44 billion shares on the NYSE, and 2.25 billion on the Nasdaq. Advancers led 19-13 on the NYSE, and 17-12 on the Nasdaq. Upside volume was 65% on the NYSE, and 72% on the Nasdaq. New highs-new lows were 71-34 on the NYSE, and 120-32 on the Nasdaq.
Computer Sciences, InterActiveCorp, Aspen Tech, Brightpoint, BMC and Radvision rose on their results.
Segue Software soared 22% on a takeover offer from Borland.
Blue Nile fell 10% on its results.
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