Stocks gain on Cisco, tame data
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Stocks rallied on Wednesday, led by gains in the tech sector after Cisco Systems Inc.'s  strong profits and outlook reinforced optimism about earnings.
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By Ari Levy  Cisco Systems shares rose Wednesday after its chief executive, John Chambers, forecast that fiscal third-quarter sales at the company, the world's biggest maker of computer-networking equipment, would beat analysts' estimates.
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Stocks rallied on Wednesday, driving the Dow Jones industrial average to a record intraday high, after a strong profit and outlook from Cisco Systems Inc.  increased optimism about earnings.
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Stocks opened higher on Wednesday as solid earnings from Cisco Systems Inc.  and data showing unexpected weakness in labor cost growth and a surprisingly strong jump in productivity boosted investor optimism.
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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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Cisco Systems, the largest maker of Internet networking equipment, reported Tuesday that its first-quarter profit rose 29 percent, squarely in line with Wall Street forecasts.
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The Nasdaq Composite rose on Thursday as technology shares benefited from strong economic data and Apple Inc.  climbed on expectations for strong sales momentum for its iPhone.
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Cisco Systems Inc. csco.o on Tuesday   reported quarterly revenue and income that exceeded market   expectations as companies upgraded their networks, sending its   shares up 9 percent.
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U.S. stocks were near the unchanged  mark on Wednesday as results from technology bellwether Cisco  Systems disappointed Wall Street, while investors await an  expected interest rate hike from the Federal Reserve later in  the trading session.
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U.S. technology stocks rose on  Wednesday as Cisco Systems'profit and outlook reinforced  optimism over earnings, while blue chips ended little changed  as an oil price drop weighed on energy shares.
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U.S. stocks rose on Friday after robust results from software maker Oracle Corp  brightened the outlook for technology and helped the Dow and S&P 500 post their best weekly performance since March.
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Cisco Systems (nasdaq: CSCO - news - people ) posted first-quarter results Tuesday, and investors are likely jumping like the firm&#39;s financials: Profit rose 29%, as the network equipper cited strong activity in both its traditional arenas as well as in
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U.S. stocks to watch: CISCO SYSTEMS INC. (CSCO.O) Cisco, the world's largest maker of gear for directing Internet traffic, on Monday distributed 162 million merit-based common stock options to employees, including 1.5 million to Chief Executive John Chambers. Its shares ended at &#36;19.18 on Nasdaq.
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U.S. stocks gained on Friday as  investors were cheered by data on producer prices and  industrial output which indicated healthy, noninflationary  economic growth and boosted cyclical shares such as Honeywell  International Inc. HON.N.
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Cisco posted net income of $1.9 billion, or $0.31 per share, on revenue of $8.4 billion in its fiscal second quarter financial results reported Tuesday, exceeding revenue but matching earnings per share estimates of analysts.
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Cisco Systems Inc., the world&#39;s largest maker of computer-networking equipment, said first- quarter profit rose 29 percent amid demand for Internet phones and devices that link homes to the Web.
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Stocks appeared set to open higher on Wednesday, particularly on Nasdaq, after Cisco Systems Inc.'s  results and outlook exceeded forecasts and reassured investors on prospects for corporate earnings.