Cisco Disappoints; Dow Off 102

Investors await stress tests results
By Nick McMaster,  Newser Staff
Posted May 7, 2009 3:27 PM CDT
Traders work on the floor of the New York Stock Exchange in this undated file photo.   (Getty Images)
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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.