5/16/2019, 5:54 PM (Source: TeleTrader)
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Cisco jumps almost 7% after earnings

Cisco Systems, Inc. stocks jumped almost 7% on Thursday, leading the gains on Wall Street, after reporting strong results. Additionally, analysts predicted that import tariffs in the trade war between the United States and China will have "very minimal" consequences for Cisco.

The tech company's earnings per share jumped 23% to $0.69 in its third quarter of fiscal 2019. Morgan Stanley, Credit Suisse and Macquarie all improved the company's ratings following the report.

Cisco traded 6.70% higher at $55.96 per share at 11:50 am ET. The stock is up 29.13% year-to-date and it gained 107.45% over the past three years. The Dow increased 1.12% at 11:51 am ET, the Nasdaq 100 jumped 1.59% at the same time and the S&P 500 gained 1.35% at 11:52 am ET.

Breaking the News / VP