Birkenstock Slips, Cisco Rallies on Earnings, Wix Slumps
On this episode of Stock Movers:- Birkenstock (BIRK) shares closed down on the day after the footwear maker reported revenue and operating profit for the second quarter that missed consensus estimates. The war in the Middle East negatively impacted EMEA revenue by about €6 million and caused an estimated 300 basis-point headwind to the region’s growth in the quarter, the company said.- Cisco (CSCO) delivered a better-than-anticipated forecast while also announcing plans to cut thousands of jobs, a move it said would help the company focus on a fast-growing AI market. The…
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