Market Overview

Cisco Is A Good Buy; Barron’s (CSCO)

Cisco (NASDAQ: CSCO) stock unexpectedly dropped after its strong earnings announcement. Cisco reported its fiscal third-quarter earnings at $2.2 billion, which equates to 42 cents per share, beating consensus estimates of 39 cents per share. Its revenue stood at $10.4 billion, surpassing the street estimates of $10.2 billion.

CEO John Chambers said, “In summary, our game plan for handling the economic downturns hit on all cylinders. Third-quarter results are the proof points and was, in my opinion, the strongest across-the-board quarter in our history.” Barron’s has reported that Cisco share is still a good bet and is expected to touch $29 in the time period of 12 months.

Posted-In: Earnings Long Ideas News Wall Street Journal Markets Media Trading Ideas

 

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