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SUNDAY, NOVEMBER 22, 2009
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 MARKETS 
1

Cisco Disappoints; Dow Off 102

Investors await stress tests results

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(Newser) – A poor earnings report and forecast from Cisco led stocks down today, the Wall Street Journal writes. The networking giant, considered an indicator of the tech sector’s general health, noted a 17% drop in revenue, and projected bigger losses for next quarter. The Dow closed down 102.43 at 8,409.85. The Nasdaq lost 42.86 to close at 1,716.24, and the S&P 500 dropped 12.14, settling at 907.39.

Traders work on the floor of the New York Stock Exchange in this undated file photo.
Traders work on the floor of the New York Stock Exchange in this undated file photo.   (Getty Images)
Traders work on the floor of the New York Stock Exchange in this undated file photo.
Traders work on the floor of the New York Stock Exchange in this undated file photo.   (AP Photo)
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This one didn't exactly inspire great confidence. Because of the nature of their business, which touches on so many other aspects of the industry, people take that as a broader sign of things to come. - Art Hogan, analyst at Jefferies & Co.,
on Cisco's conference call

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Robert_Dada
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