Cisco Systems

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Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.4%.The Philadelphia Semiconductor index increased 0.8%.In corporate news, Nvidia (NVDA) shares climbed 4%. About 10 Chinese firms have secured US clearance to buy Nvidia's H200 AI chip, Reuters reported, citing unnamed sources. Nvidia Chief Executive Jensen Huang is accompanying President Donald Trump in his China trip, along with executives of several other major US tech companies.Cerebras Systems (CBRS) stock was up more than 72% in late trading following its Nasdaq debut.Cisco (CSCO) shares jumped 13% after it reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.Microsoft-backed (MSFT) OpenAI is preparing possible legal action against Apple (AAPL) as the partnership between the two companies has become strained, Bloomberg reported. Apple shares were fractionally lower, and Microsoft was up 1%.

Research77d ago

Research Alert: CFRA Maintains Hold Opinion On Shares Of Cisco Systems Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price by $40 to $125, based on 26.5x our FY 27 (Jul.) EPS estimate, a premium to its one-year forward average P/E of 18.0x, reflecting recent strong results. We increase our FY 26 EPS estimate by $0.16 to $4.28 and FY 27's by $0.28 to $4.71. Networking product orders accelerated, with more than 50% growth, due to considerable gains in areas such as service provider routing, compute, data center switching, campus switching, wireless, enterprise routing, and industrial IoT products. The AI infrastructure business showed substantial order growth, particularly from hyperscalers, with YTD totals already exceeding previous expectations and a revised outlook for further increases. CSCO secured five new design wins with hyperscalers in the third quarter, including wins for both optics and systems, marking expansion in its AI infrastructure offerings.

Cisco Systems' AI Momentum, Hyperscaler Spending Strength to Drive Growth Into 2027, UBS Says

Cisco Systems (CSCO) is positioned for continued growth into fiscal 2027 as rising hyperscaler artificial intelligence spending, stronger campus demand and improving traction in security support expanding revenue and earnings, UBS said in a note emailed Thursday.The brokerage said Cisco's AI systems and optical products should continue benefiting from broad-based increases in data center and AI infrastructure spending.The company's operational strength has helped it navigate ongoing supply-chain and component cost pressures better than peers, the brokerage said.UBS raised its price target on Cisco to $132 from $95 and reiterated its buy rating.Price: $114.99, Change: $+13.12, Percent Change: +12.88%

Dow JonesNasdaq CompositeS&P 500$AAPL$AMAT$BA$CSCO$NVDA$TSLA

Top Midday Gainers

Cisco (CSCO) overnight reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. It also announced restructuring plans that included lay-offs of nearly 4,000 employees.Shares advanced 12%, with intraday trading volume rising to over 54.4 million from a daily average of about 21.7 million.POET Technologies (POET) and Lumilens unveiled a partnership on Thursday to develop a new class of wafer-level photonic integration for artificial intelligence infrastructure.As part of a supply agreement, Lumilens placed an initial purchase order with POET for Electrical-Optical Interposer-based engines valued at $50 million. Orders may increase to more than $500 million over five years.Shares surged 39% as intraday trading volume soared to over 95.9 million from a daily average of roughly 27.1 million.STAAR Surgical (STAA) reported surprise Q1 earnings late Wednesday as sales more than doubled from a year ago, beating expectations.Shares jumped 11% as intraday trading volume rose to over 2.75 million from a daily average of about 1.27 million.Price: $114.79, Change: $+12.92, Percent Change: +12.68%

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US Markets77d ago

Equities Rise Intraday Amid Cisco-Led Tech Rally; Trump-Xi Summit in Focus

US benchmark equity indexes were higher intraday amid a post-earnings rally in Cisco Systems (CSCO), while markets tracked updates of a high-stakes meeting between President Donald Trump and his Chinese counterpart, Xi Jinping.The Nasdaq Composite was up 0.8% at 26,614 after midday Thursday, while the S&P 500 rose 0.7% to 7,496.6. Both indexes hit fresh record highs in the previous session. The Dow Jones Industrial Average was up 0.7% at 50,054.1 intraday Thursday.Most sectors were in the green, led by technology's 1.6% jump, while materials saw the biggest drop.Cisco shares were up nearly 13%, the biggest gainer on the S&P 500 and the Dow. Late Wednesday, Cisco's fiscal third-quarter results exceeded Wall Street's estimates, while the networking equipment maker announced a restructuring plan that involves thousands of layoffs.Cisco's expanded hyperscaler partnerships are paying dividends for the company, as evidenced by management expectations for a surge in artificial intelligence orders, Morgan Stanley said in a note e-mailed Thursday.Nvidia (NVDA) followed Cisco on the Dow intraday, up 3.6%. About 10 Chinese companies have secured US clearance to purchase Nvidia's H200 AI chip, Reuters reported, citing unnamed sources.Nvidia Chief Executive Jensen Huang is accompanying Trump in his China trip, along with executives of several other major US tech companies.Xi told Huang and CEOs of Apple (AAPL), Tesla (TSLA) and other companies that China will "open wider" to doing business, news outlets reported.Apple shares were down 0.2% intraday, while Tesla rose 0.3%.Boeing (BA) is set to get an order for 200 jets from China, Fox News reported, citing Trump. The US planemaker's shares fell 3.7%, the biggest drop on the Dow.US Treasury yields were mixed intraday, with the 10-year rate down 2.6 basis points at 4.45% and the two-year rate little changed at 3.99%.Xi has pledged not to provide military equipment to Iran, CNN reported, citing Trump.The two leaders agreed that the crucial Strait of Hormuz should remain a free waterway and Iran shouldn't be able to exact payments for the use of shipping lanes, The Wall Street Journal reported, citing a White House readout of the Trump-Xi talks."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran," ING Bank said in a note. "Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war and lead to a resumption of energy flows through the Strait of Hormuz."West Texas Intermediate crude was up 0.4% at $101.37 a barrel intraday, while Brent edged down 0.2% to $105.46.In economic news, US retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated."Surprisingly, firm underlying retail sales in April suggest another quarter of moderate consumer spending growth, though higher inflation is bound to take a toll," BMO Capital Markets said in a note. "Inflation pressures are mounting due to the Iran conflict and could take a larger toll on overall spending."Applied Materials (AMAT) is scheduled to report its latest quarterly financial results after the closing bell Thursday.Gold was down 0.4% at $4,687.30 per troy ounce, while silver fell 4.5% to $85.33 per ounce.

Asia Markets77d ago

S&P 500, Nasdaq Composite Break Records as Technology Trade Runs Strong

US equity indexes rose after midday Thursday as strong gains in technology helped the S&P 500 and the Nasdaq hit fresh all-time highs.The Dow Jones Industrial Average climbed 0.7% to 50,022.1, with the Nasdaq up 0.6% to 26,555.5 and the S&P 500 higher by 0.6% to 7,486.2. Technology and energy led the gainers, while materials and real estate were among the decliners.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, eight were from the technology sector. The top performer was Cisco Systems (CSCO), up 12%, which made it the leader on the S&P 500, the Nasdaq, and the Dow.Cisco reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.In economic news, retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated. Sales rose 0.5% in April following a revised 1.6% gain in March, the Census Bureau reported Thursday, matching the consensus in a survey compiled by Bloomberg."Despite elevated prices at the pump and elsewhere, consumers continue to prove resilient thanks to decent wage gains, savings, and credit cards to support spending," Lindsey Piegza, chief economist at Stifel, said in a note. "That being said, consumers cannot perpetually withstand elevated costs."Business inventories rose 0.9% in March, as expected in a survey compiled by Bloomberg and following a 0.4% increase in the previous month.Most US Treasury yields fell, with the 10-year down three basis points to 4.45%. The two-year rate was steady at 3.98%.West Texas Intermediate crude oil futures were steady at $101.01, and Brent crude futures slipped 0.3% to $105.27.In precious metals, gold futures declined 0.4% to $4,687.3, and silver futures slumped 4.4% to $85.41.

Dow JonesNasdaq CompositeS&P 500$CSCO

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Sector Update: Tech Stocks Mixed Thursday Afternoon

Tech stocks were mixed Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) shedding 0.6%.The Philadelphia Semiconductor index increased 0.1%.In corporate news, Cisco (CSCO) shares jumped 12% after it reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.Microsoft-backed (MSFT) OpenAI is preparing possible legal action against Apple (AAPL) as the partnership between the two companies has become strained, Bloomberg reported. Apple shares were down 0.3%, and Microsoft was rising 0.8%.Chinese President Xi Jinping told the chief executives of Apple, Tesla (TSLA), Nvidia (NVDA) and other large companies that China will "open wider" to doing business, CNBC reported Thursday, citing a report from state-backed newspaper Xinhua. Tesla shares were fractionally higher, and Nvidia gained 3.7%.

Sector Update: Tech

Tech stocks were higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.5%.The Philadelphia Semiconductor index increased 0.8%.In corporate news, Cisco (CSCO) shares jumped past 13% after it reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.

Dow JonesNasdaq CompositeS&P 500$CSCO

Japan77d ago

Technology Helps S&P 500, Nasdaq Composite Scale New Peaks

US equity indexes rose in midday trading on Thursday as technology topped sector charts, pushing the S&P 500 and the Nasdaq to intraday all-time highs.The Dow Jones Industrial Average climbed 0.9% to 50,165.2, with the Nasdaq up 1.1% to 26,695.1 and the S&P 500 higher by 0.9% to 7,514.5. All sectors except materials and real estate rose.Of the top 10 companies with a market capitalization of more than $200 billion, implying a significant sway over indexes, eight were from the technology sector. The top performer was Cisco Systems (CSCO), up 15%, which made it the leader on the S&P 500, the Nasdaq, and the Dow.Cisco reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.In economic news, retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated. Sales rose 0.5% in April following a revised 1.6% gain in March, the Census Bureau reported Thursday, matching the consensus in a survey compiled by Bloomberg.

Cisco's Hyperscaler Partnerships Paying Off Amid AI Order Surge, Morgan Stanley Says

Cisco Systems' (CSCO) expanded hyperscaler partnerships are paying dividends for the networking equipment maker, as evidenced by management expectations for a surge in artificial intelligence orders, Morgan Stanley said in a note emailed Thursday.Total product orders climbed 35% year-over-year in the fiscal third quarter, driven by hyperscaler orders that grew triple digits, Chief Executive Chuck Robbins said on an earnings call Wednesday, according to a FactSet transcript.AI infrastructure orders from hyperscalers, or the big technology companies, rose to $1.9 billion from $600 million the year prior, taking the year-to-date tally above the company's prior expectation of $5 billion for fiscal 2026, Robbins told analysts.Cisco is now targeting about $9 billion in AI infrastructure orders from hyperscalers in fiscal 2026, 4.5 times the 2025 level, Robbins added."Efforts made over the last (more than five) years to improve hyperscaler relationships and find avenues to differentiate through optics and silicon are paying dividends," Morgan Stanley said.The brokerage raised Cisco's price target to $120 from $91 and maintained its overweight rating. The company's shares soared 15% in Thursday trade, bringing their year-to-date gains to 52%.Cisco reported stronger-than-expected fiscal third-quarter results late Wednesday, while the networking equipment maker announced a restructuring plan that involves thousands of layoffs."The path from here for the stock will be ability to deliver/continue to see orders on AI side, capitalize on enterprise investment in AI, improve the security business results, as well as show ability to manage mix impact to gross margins through operating efficiencies, allowing EPS estimates to move higher," according to the Morgan Stanley note.Price: $117.27, Change: $+15.40, Percent Change: +15.11%

Cisco Systems' AI Momentum Accelerates as Hyperscaler Orders Surge, Morgan Stanley Says

Cisco Systems (CSCO) delivered a fiscal Q3 beat driven by accelerating AI-related networking demand and deeper engagement with hyperscalers, Morgan Stanley said Thursday in a report.The technology company's five-year effort to deepen cloud partnerships and differentiate through optics and silicon is now paying off, the report said. AI revenue and orders are expected to quadruple in fiscal 2026 from a year earlier, and management has committed to at least 50% AI revenue growth in fiscal 2027, reaching about $6 billion, or a high-single-digit share of total revenue, Morgan Stanley said.Cisco booked $2.1 billion in AI orders from hyperscalers during the quarter, and networking revenue rose 25%, supported by AI infrastructure demand and ongoing enterprise network upgrades, the report said.The next leg for the stock hinges on Cisco's ability to sustain AI order momentum, capture enterprise AI spending, and improve security results, while offsetting gross-margin pressure through operating efficiencies, the report said.Morgan Stanley raised its price target on Cisco stock to $120 from $91 and maintained its overweight rating.Price: $117.32, Change: $+15.45, Percent Change: +15.16%

New Street Research Adjusts Cisco Systems Price Target to $122 From $82, Maintains Neutral Rating

Cisco Systems (CSCO) has an average rating of overweight and mean price target of $118.11, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $118.34, Change: $+16.47, Percent Change: +16.16%

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$CPA$CSCO$DOCS$ED$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD$YETI

Commodities77d ago

Exchange-Traded Funds, Equity Futures Advance Pre-Bell Thursday Amid US-China Meeting

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.2% higher in Thursday's premarket activity amid a two-day meeting between the US and China.US stock futures were also higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 0.7%, and Nasdaq futures gaining 0.2% before the start of regular trading.US initial jobless claims rose to a level of 211,000 in the week ended May 9 from a downwardly revised 199,000 level in the previous week, compared with expectations for a smaller increase to 205,000 in a survey of analysts compiled by Bloomberg.US import prices rose by 1.9% in April, above the 1% increase expected in a survey compiled by Bloomberg as of 7:35 am ET and faster than a 0.9% gain in March.US retail sales rose by 0.5% in April, as expected in a survey compiled by Bloomberg as of 7:35 am ET and following the previous month's 1.6% gain.Business inventory data for March is due to be released at 10 am ET, followed by weekly natural gas stocks at 10:30 am ET.Federal Reserve Kansas City President Jeffrey Schmid, Cleveland President Beth Hammack, New York President John Williams, and Governor Michael Barr are slated to speak on Thursday.In premarket action, bitcoin was down by 10%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.01%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.2%. The Vanguard Health Care Index Fund (VHT), the iShares US Healthcare ETF (IYH), and the iShares Biotechnology ETF (IBB) were flat.Doximity (DOCS) stock was down more than 10% premarket after the company overnight reported a steeper-than-expected drop in fiscal Q4 adjusted earnings and sales guidance for the next financial year lagged market expectations.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained by 0.4%, and the iShares US Technology ETF (IYW) was 0.5% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 0.3%, while the iShares Semiconductor ETF (SOXX) fell by 0.1%.Cisco Systems (CSCO) shares were up more than 15% in premarket activity after the company reported forecast-beating fiscal Q3 results and said it plans to lay off about 4,000 employees, representing around 5% of its workforce.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.3%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased by 0.3%. The VanEck Retail ETF (RTH) retreated by 0.01%, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% higher.Yeti (YETI) shares were up more than 10% pre-bell after the company reported better-than-expected fiscal Q1 adjusted net income and net sales.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.2%, while the Vanguard Industrials Index Fund (VIS) gained 0.04% and the iShares US Industrials ETF (IYJ) was inactive.Copa (CPA) stock was up more than 3% before the opening bell after the company reported higher Q1 earnings and operating revenue.EnergyThe iShares US Energy ETF (IYE) was down 0.3%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.02%.Consolidated Edison (ED) stock was down more than 2% before the opening bell. Goldman Sachs raised its price target on the company to $105 from $103 and maintained its sell rating.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.8% lower.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.1% to $100.95 per barrel on the New York Mercantile Exchange. Natural gas was down 0.7% to $2.84 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 0.7%, while the United States Natural Gas Fund (UNG) was flat.Gold futures for May retreated by 0.1% to $4,700.30 an ounce on the Comex. Silver futures fell by 2.3% to $87.30 an ounce. SPDR Gold Shares (GLD) was 0.2% higher, and the iShares Silver Trust (SLV) declined by 0.8%.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$BN$CSCO$JD$MRVL$NVDA

Sector Update: Tech Stocks Mixed Premarket Thursday

Technology stocks were mixed premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.4% lower.Cisco Systems (CSCO) stock was up more than 15% after the company posted higher fiscal Q3 earnings and revenue that also topped market expectations, and raised its fiscal 2026 guidance.Intel (INTC) has signed a multiyear partnership with McLaren Racing to become the official compute partner across its Formula 1, IndyCar and sim racing teams, the chipmaker said. Intel shares were down more than 4% pre-bell.United Microelectronics (UMC) shares were up more than 8% after the company launched its 14nm FinFET technology platform for display driver ICs.

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Asia Markets77d ago

US Equity Futures Rise Pre-Bell After S&P 500, Nasdaq Set New Highs Amid US-China Meeting

US equity futures were rising pre-bell Thursday as technology stocks drove new record highs for the S&P 500 and the Nasdaq Composite while traders kept a close eye on the high-stakes meeting between US President Donald Trump and Chinese leader Xi Jinping.Dow Jones Industrial Average futures were 0.8% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.3% higher.On Wednesday, the S&P 500 advanced nearly 0.6% to close at 7,444.25, while the Nasdaq Composite rose 1.2% to end at 26,402.34, with both setting new closing records. Cisco Systems (CSCO) shares were up 15% after the company posted higher fiscal Q3 results and announced restructuring plans that included lay-offs of nearly 4,000 employees.At the start of a two-day summit, Xi told Trump that US-China trade talks were progressing positively, but warned that disagreement over Taiwan could lead to a dangerous situation and even cause conflict.Traders also mulled the latest round of earnings, with Brookfield (BN) reporting higher Q1 distributable earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $104.90 per barrel and US West Texas Intermediate crude 0.7% lower at $100.33 per barrel.US retail sales rose by 0.5% in April, as expected in a survey compiled by Bloomberg as of 7:35 am ET and following the previous month's 1.6% gain.US import prices rose by 1.9% in April, above the 1% increase expected in a survey compiled by Bloomberg as of 7:35 am ET and faster than a 0.9% gain in March.US initial jobless claims rose to a level of 211,000 in the week ended May 9 from a downwardly revised 199,000 level in the previous week, compared with expectations for a smaller increase to 205,000 in survey of analysts compiled by Bloomberg.Federal Reserve Kansas City President Jeffrey Schmid, Cleveland President Beth Hammack, New York President John Williams, and Governor Michael Barr are slated to speak on Thursday.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 1.5% lower. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was 1.3% higher in Europe's early afternoon session.In equities, Nvidia (NDA), Applied Materials (AMAT), and Marvell Technology (MRVL) joined Cisco in an upswing of technology stocks that lifted the market. Nvidia stock was up 2.1%, Applied Materials shares rose 1.9%, and Marvell stock was up 2.8%.On the losing side, Alibaba (BABA) and JD.com (JD) shares were down 3.1% and 1.7%, respectively, after a Reuters report said that they were among the roughly 10 Chinese companies that have secured US clearance to purchase Nvidia's H200 artificial intelligence chip, without a single delivery being made so far.

Sector Update: Tech

Technology stocks were edging higher premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.1% higher.Cisco Systems (CSCO) stock was up more than 14% after the company posted higher fiscal Q3 earnings and revenue that also topped market expectations, and raised its fiscal 2026 guidance.