U.S. Stock Market Opens with Three Major Indexes Up, Cisco Drops 7.9% After Earnings

BlockBeats News, August 13th, according to BIT (bit.com) market data, the US stock market opened with the Dow Jones up 0.26%, the S&P 500 up 0.29%, and the Nasdaq up 0.12%.

Cisco (CSCO.O) fell by 7.9%. The company's performance exceeded expectations but was still not enough to satisfy the market. The sales guidance for the 2027 fiscal year exceeded market expectations, with fourth-quarter revenue reaching $17.3 billion, while the market had estimated $16.85 billion. Cisco expects adjusted earnings per share for the 2027 fiscal year to be between $5.05 and $5.11, compared to the market expectation of $4.84. In the fourth quarter, Cisco received $4 billion in AI orders from hyperscale cloud providers.