Why Cisco Shares Are Trading Higher; Here Are 20 Stocks Moving Premarket
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 16 2024
0mins
Source: Benzinga
Cisco Systems, Inc. Financial Results:
- Cisco reported a 13% year-over-year revenue decrease in the third quarter to $12.7 billion, beating estimates.
- Quarterly earnings were 88 cents per share, surpassing analyst expectations of 82 cents per share.
- The company projected FY24 adjusted earnings of $3.69 to $3.71 per share on revenue of $53.6 billion to $53.8 billion.
- Cisco shares surged by 4.6% to $51.93 in pre-market trading following the positive financial results.
Other Stocks Movement:
- Various companies experienced significant stock price movements in pre-market trading.
- Greenwave Technology Solutions, Crown ElectroKinetics Corp., and TSR, Inc. saw notable gains.
- Pineapple Energy Inc., AST SpaceMobile, Blue Star Foods Corp., and Sintx Technologies, Inc. also had substantial increases.
- Conversely, UTime Ltd, KULR Technology Group, Spire Global, AgriFORCE Growing Systems Ltd., WaveDancer, AERWINS Technologies Inc., GameStop Corp., Fluent Inc, AMC Entertainment Holdings, and Iris Energy Limited witnessed declines in pre-market trading.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
