Today pushed the Dow Jones Industrial average into positive territory for the year, up by a fraction but still on the plus side. But words of warning after the close from one of those dow stocks could temper the tone of trading tomorrow. Cisco systems is the closely watched tech bellwether company and on its earnings conference call, the ceo issued disappointing Earnings Guidance and announced plans to cut 6,000 jobs. As for its quarterly results, the computer networking equipment maker posted earnings of 55 cents a share, two cents more than estimates and revenues came in better than expected even though they were basically flat from a year ago as the Company Faces tough demand for its new line of highend switches and routers. Cisco shares initially rose but then reversed course on those comments from the conference call. Cisco along with several other u. S. Tech giants has always looked at china for feature growth but now doing business with beijing is becoming more difficult and one
The day with modest gains. That i z happened despite some of choppy lackluster data really about the trading and the European Central bank meeting, the big one on friday, the may jobs report. Today, a setback in the labor market as the reading on private job creation last month was short on the forecast. Worker productivity down in the First Quarter of the year with all that snow and cold paraly paralyzing factories, offices and retailers, but just as winter turned to green we saw some shoots in the economy, maybe not so steadily, but returns to growth. Steve liesman has more. It was a day of mixed Economic Data that on balance kept the view that the u. S. Economy was snapping back from a winter of severe weather. But the data raised questions about the strength of that snapback. The adp reported that 170,000 private sector jobs were created in may, below the estimates on wall street, for the government jobs reports it is friday. I would4 . it is disappointing. Suggests that monthly
The day with modest gains. That i z happened despite some of choppy lackluster data really about the trading and the European Central bank meeting, the big one on friday, the may jobs report. Today, a setback in the labor market as the reading on private job creation last month was short on the forecast. Worker productivity down in the First Quarter of the year with all that snow and cold paraly paralyzing factories, offices and retailers, but just as winter turned to green we saw some shoots in the economy, maybe not so steadily, but returns to growth. Steve liesman has more. It was a day of mixed Economic Data that on balance kept the view that the u. S. Economy was snapping back from a winter of severe weather. But the data raised questions about the strength of that snapback. The adp reported that 170,000 private sector jobs were created in may, below the estimates on wall street, for the government jobs reports it is friday. I would4 . it is disappointing. Suggests that monthly
Industrial average into positive territory for the year, up by a fraction but still on the plus side. But words of warning after the close from one of those dow stocks could temper the tone of trading tomorrow. Cisco systems is the closely watched tech bellwether company and on its earnings conference call, the ceo issued disappointing Earnings Guidance and announced plans to cut 6,000 jobs. As for its quarterly results, the computer networking equipment maker posted earnings of 55 cents a share, two cents more than estimates and revenues came in better than expected even though they were basically flat from a year ago as the Company Faces tough demand for its new line of highend switches and routers. Cisco shares initially rose but then reversed course on those comments from the conference call. Cisco along with several other u. S. Tech giants has always looked at china for feature growth but now doing business with beijing is becoming more difficult and one of ciscos biggest challeng
Helps and a strong stock rally today pushed the Dow Jones Industrial average into positive territory for the year, up by a fraction but still on the plus side. But words of warning after the close from one of those dow stocks could temper the tone of trading tomorrow. Cisco systems is the closely watched tech bellwether company and on its earnings conference call, the ceo issued disappointing Earnings Guidance and announced plans to cut 6,000 jobs. As for its quarterly results, the computer networking equipment maker posted earnings of 55 cents a share, two cents more than estimates and revenues came in better than expected even though they were basically flat from a year ago as the Company Faces tough demand for its new line of highend switches and routers. Cisco shares initially rose but then reversed course on those comments from the conference call. Cisco along with several other u. S. Tech giants has always looked at china for feature growth but now doing business with beijing is