What's Going On With Cisco Stock?
Portfolio Pulse from Henry Khederian
Cisco Systems Inc (NASDAQ:CSCO) shares are trading lower by 1.03% to $45.01 due to news of upcoming layoffs and anticipation of the company's fourth-quarter earnings report. Cisco plans to lay off thousands of employees to focus on high-growth areas like cybersecurity and AI. The stock has declined approximately 10.5% year-to-date.
August 12, 2024 | 6:03 pm
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Cisco Systems Inc shares are trading lower by 1.03% due to news of upcoming layoffs and anticipation of the company's fourth-quarter earnings report. The company plans to lay off thousands of employees to focus on high-growth areas like cybersecurity and AI.
The news of significant layoffs and the anticipation of the fourth-quarter earnings report are likely to create short-term downward pressure on Cisco's stock price. Investors may be concerned about the company's restructuring and its impact on future performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100