In recent news:
Stocks sink as Cisco’s outlook disappoints
By STEPHEN BERNARD, AP Business Writer Stephen Bernard, Ap Business Writer – 1 hr 7 mins ago
NEW YORK – Stocks tumbled Thursday after a disappointing outlook from Cisco Systems Inc. rattled a market already on edge as an economic summit of world leaders got under way in South Korea.
“Cisco is clearly a tech benchmark,” said Philip Dow, director of equity strategy at RBC Wealth Management. “With a second disappointment in a row, people are questioning if their business model is broken.”
Cisco’s shortfall an omen for rest of tech world
By JORDAN ROBERTSON, AP Technology Writer Jordan Robertson, Ap Technology Writer – 34 mins ago
SAN FRANCISCO – A gloomy outlook from Cisco Systems Inc. is shaking some investors’ faith in the strength of the technology industry’s recovery. “The economic environment is still very difficult,” he said.
“Unemployment remains high. That hasn’t been solved.”He added that “one quarter is too early to call a trend, but it definitely raises a red flag.”
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Well, there goes my temp job from hell. After all, I work in Silicon Valley.
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