Listen: Cisco, China And KCBS discussed on KCBS Radio Afternoon News
"From the KCBS super micro Intel, muddy desk. Cisco gets a big assist from the stock market today as it shares traded at their highest level since two thousand Santa's eight beat earnings expectations with revenue of four percent to thirteen billion dollars, and even more importantly to the market. Cisco is weathering the trade war with China, and that seen as a key barometer for US hardware. Demand, CEO, Chuck Robbins, told the earnings call that Cisco has offset the impact of higher tariffs by hiking prices, and moving manufacturing out of China, although it's not completely out of the country. Robin says current quarter guidance takes into effect the recent tariff increase investors sent Cisco stock higher by six and a half percent a big boost for the overall market. The Dow gained two hundred fourteen points to twenty five thousand eight hundred sixty two the NASDAQ rose seventy. Six points to seventy eight ninety eight and"