Dow Jones News: Cisco Down on Arista Warning; Disney Rises Ahead of Streaming Launch
Friday was a good day for the Dow Jones Industrial Average (DJINDICES: ^DJI), with the index gaining 0.99% by 2 p.m. EDT. A strong jobs report may be behind the gains, although markets have been volatile as the U.S.-China trade war rages on.
Dow component Cisco Systems (NASDAQ: CSCO) failed to participate in the rally, slumping after a rival warned about weak spending from a major cloud customer. Disney (NYSE: DIS) didn't miss out, though, jumping higher even as competitors fleshed out their rival streaming offerings.
Shares of networking hardware market-leader Cisco were down 1.6% after much smaller rival Arista Networks (NYSE: ANET) shocked investors with abysmal guidance. Arista warned that spending from a single large cloud customer had suddenly weakened, leading the company to predict a revenue decline in the fourth quarter. Arista stock fell around 24% on the news.
Source Fool.com
