Cisco Gives Markets a Boost, but This Tech Stock Is Jumping Even Higher
Investors have had to deal with many different uncertainties lately, including high inflation and the prospects of an economic recession. However, the stock market weighs longer-term prospects more heavily than the near term, and that has helped major indexes recover from their worst levels of the summer. Shortly before the market open, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) had risen 16 points to 33,979. Futures on the S&P 500 (SNPINDEX: ^GSPC) had gained 5 points to 4,282, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had managed to climb 19 points to 13,512.
The big news of the morning came from Cisco Systems (NASDAQ: CSCO), which announced its latest quarterly financial results and made its shareholders more comfortable with what the future will bring. However, another tech stock, Wolfspeed (NYSE: WOLF), saw even bigger gains in its share price. Read on to learn more about both of these businesses.
Shares of Cisco Systems climbed nearly 5% in premarket trading on Thursday morning. The networking giant's fiscal fourth-quarter results for the period ending June 30 reassured investors that its prospects remain solid.
Source Fool.com
