facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -
 

« News Home

Stocks edge mostly higher, Cisco drags tech lower



Published: Thu, November 14, 2013 @ 10:50 a.m.

NEW YORK (AP) — Major market indexes are edging mostly higher on Wall Street in early trading today, but a sales slump at network equipment maker Cisco Systems dragged other technology stocks lower.

The Dow Jones industrial average inched up two points to 15,824 in the first hour of trading.

Cisco reported quarterly sales after the closing bell Wednesday that were well below what analysts were expecting. Cisco is considered a technology industry bellwether because the company manufacturers the equipment that makes up the backbone of the Internet: routers, servers, fiber optics, etc. Its results are also seen as a proxy for business spending on technology.

Cisco also said revenue for the current quarter could fall as much as 10 percent from a year ago. The company's chief executive, John Chambers, blamed the 16-day partial government shutdown last month as well as the near-breach of the nation's borrowing limit as reasons why business was down.


Comments

Use the comment form below to begin a discussion about this content.


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes