Cisco Falls After Earnings, McDonald's Sees Sales Growth, Zillow Tumbles
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: Cisco (CSCO) gave a weaker-than-expected forecast for profitability in the current quarter, overshadowing a generally positive outlook fueled by artificial intelligence gains. Cisco, the largest maker of networking equipment, has increased spending to create new AI-focused products. The tech industry also is coping with a threat from memory-chip shortages, which is boosting costs. The shares fell about 4% in late trading after the report was released. Cisco’s stock gained 30% last year.- McDonald's…
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