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Cisco Systems Inc. shares rose in extended trading Wednesday after the networking company forecast stronger-than-expected revenue growth in the months ahead, quelling fears of a slowdown in businesses’ technology spending. Cisco CSCO, -0.24% reported net income of $3.4 billion, or 68 cents a share, while revenue was flat from the year before at $13.1 billion. … Read more
Text size It’s the tail end of first-quarter earnings season, with mostly retailers left to report this week. Government data on U.S. retail sales will also be released. Home Depot and Walmart report on Tuesday, followed by Target, TJX , Lowe ’s , and Bath & Body Works on Wednesday and Ross Stores on Thursday. Non-retailer … Read more
Text size Cisco Systems logo Gabriel Bouys/AFP via Getty Images Shares of Cisco Systems were falling Tuesday after the networking hardware and software giant was downgraded to a Sell by Citi. Analyst Jim Suva cut his rating to a Sell from Neutral, saying in a research note that “current supply chain challenges are more of … Read more