With third quarter sales figures coming out at this time of the year, everyone is looking out for the major players in the market. The US stock index sees the highs and lows on a regular basis but so far, for the past two days the Stock Index has not shown much of a drop with most company’s third quarter reports. Major shares are on the rise with improved reported net income. That is until Cisco Systems Inc (NASDAQ:CSCO), announced their financial report. Cisco revenue was reported at much lower than expected and as a result their shares fell 16.3% in premarket trading.
This has come as a blow especially since many of the other major companies have been showing a positive turn around. With Cisco’s report, the sign of a weak economy is still there and there is still much work and analysis to be done to improve the situation. Being a top player in the market can have several effects to a company like Cisco but with the new financial report, they seem to be loosing their strength. Analysts are now on the outlook for their next quarter report as that will give an in-depth idea of the status of economic improvement for 2010.
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