Cisco's CEO John Chambers no longer dictates the moves in the broader stock market. Or even just the Nasdaq. Stocks were relatively flat Thursday.
But he still must be smiling. Cisco's (CSCO) stock rallied more than 10% following a blowout quarter.
Chambers told investors that he's encouraged by the "good signs" he sees in the economies of the United States and the rest of the world. Several traders on StockTwits shared that view.
Cisco's gear helps build the computer networks and infrastructure that power some of the world's largest corporations. Chambers used to be able to move the market with calls about tech spending. But investors clearly want more than just cheery talk in a market where major indexes are already up between 15% and 17% for the year.
Cisco might not give rocket fuel to the rest of the market, but its internal juice was pretty tasty to most investors. Few traders on StockTwits were willing to bet against Cisco Thursday.
Is cash (or caysh if you pronounce it like Cisco Systems CEO John Chambers) king? We may find out Tuesday. Cisco (CSCO) reports earnings after the closing bell on Tuesday.
It's been a tough year for the networking giant. Shares are down 6.5%, despite the fact that it has nearly $50 billion in caysh on its balance sheet and is putting a lot of it to use with a dividend. Cisco's MOREPaul R. La Monica - Nov 9, 2012 12:11 PM ET
Most big tech stocks have enjoyed healthy gains in 2012. Apple (AAPL), Microsoft (MSFT), Intel (INTC) and Oracle (ORCL) are all sporting double-digit percentage gains. But not Cisco Systems (CSCO). The networking company's stock is down year-to-date. But is that about to change?
Shares of Cisco were up about 2% Thursday morning thanks to some positive analyst chatter heading into next week's earnings report. There are growing hopes that corporate demand MOREPaul R. La Monica - Aug 9, 2012 10:22 AM ET
Not a member yet?Sign up now for a free account
|Comcast apologizes to customer for changing name to A-hole on bill|
|Chris Messina: Why I choose non-monogamy|
|Shake Shack set to shake up Wall Street|
|American families are on financial thin ice|
|Visa loves the fees and announces a stock split|