Wall Street Beat: Cisco forecast weighs on sector
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A weak forecast from Cisco marked another roller-coaster week for technology companies on the stock market.
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US tech stocks opened lower on Wednesday, as results from technology bellwether Cisco Systems Inc. (CSCO.O: Quote, Profile, Research) disappointed Wall Street, while investors await an
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Cisco (CSCO:Nasdaq - news - research) disappointed Wall Street Tuesday with a first quarter profit that was merely in line with estimates, rather than the customary penny ahead.
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Cisco Systems Inc. CSCO.O, the  largest maker of communications gear to direct traffic over the  Internet, on Tuesday said quarterly earnings rose, but shares  fell in aftermarket trading amid concerns about weak revenue  and rising inventory.
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Most U.S. companies have reported earnings and the flow of economic data slows this week, so investors will look to U.S. trade figures and earnings from leading technology stocks Dell and Cisco for fuel to sustain the market's 2-week-old rally.
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Shares on Wall Street are expected to  open higher on Tuesday, as stronger oil prices are likely to  underpin energy stocks and investors bet on strong earnings  from network equipment maker Cisco Systems .
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U.S. tech stocks opened lower on  Wednesday, as results from technology bellwether Cisco Systems  Inc. CSCO.O disappointed Wall Street, while investors await  an expected hike in interest rates from the Fed later in the  day.
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Shares of technology bellwether Cisco Systems Inc. (CSCO.O: Quote, Profile, Research) fell more than 6 percent on Wednesday, as the company&#39;s disappointing revenue outlook
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European equities fell on Thursday as technology shares lost ground after Cisco Systems (NASDAQ:CSCO) in the US warned of weak demand.
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Cisco Systems Inc. CSCO.O, the  biggest maker of gear to direct traffic over the Internet, on  Tuesday said it was on track to meet Wall Street's fiscal 2005  revenue growth estimates, but signaled that profit margins were  under pressure.
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Plus: Cisco posts higher quarterly profit...RealNetworks reports leap in quarterly earnings...Time Warner earnings perk up. Check back for latest.
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Cisco Systems Inc   gave a disappointing outlook on Wednesday and warned  of a rapid slowdown in U.S. and European orders, driving its  shares down 8 percent and adding to broader fears of a U.S.  recession.
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Sky-high oil prices are likely to pressure Wall Street once again on Thursday, while earnings news from tech giants Ciena (CIEN.N) and Nortel (NT.TO) and Google's (GOOG.O) awaited Nasdaq debut will also steer sentiment.
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Cisco CEO Chambers and other executives wooed Wall Street Wednesday with predictions for sustained long-term growth.
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Cisco Systems Inc.'s  strong  quarterly results and upbeat outlook pushed up tech shares on  Wednesday, cheering investors who had beaten down the sector  after weak results from other tech heavyweights.
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U.S. tech stocks rose on Wednesday after Cisco Systems Inc.'s  strong profits and outlook reinforced optimism about earnings. But blue chips fell as tumbling oil prices hurt energy companies' shares.
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HP and Cisco spooked investors with recent comments about sales, but analysts say the overall tech market is still inching along.