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.
|Bill Gates: Sorry about Control-Alt-Delete|
|Puerto Rico: 11 years in recession and now no electricity|
|Jimmy Kimmel takes on new health care bill, says Sen. Cassidy lied 'right to my face'|
|Equifax tweets fake phishing site to concerned customers|
|Apple Watch Series 3 is having connectivity issues|