Cisco leads the Dow higher after earnings beat

May 16, 2013 @ 8:52 am


FILE - Specialist Bradley Kessler, left, works with traders on the floor of the New York Stock Exchange in this May 7, 2013 file photo. Financial markets were subdued Thursday May 16, 2013 despite encouraging growth figures out of Japan, as investors paused for breath a day after the main U.S. stock indexes struck record highs. (AP Photo/Richard Drew, File) | Zoom

NEW YORK (AP) - Indexes are slightly higher at midday on Wall Street, pushing the stock market further into record territory.

Cisco Systems soared 13 percent, the most in the Dow Jones industrial average, after the network equipment maker reported results that beat the estimates of financial analysts who follow the company.

Wal-Mart fell after the giant retailer blamed higher payroll taxes, bad weather and delayed tax refunds for a sales slump that disappointed investors.

The Dow was up 15 points at 15,290 at midday Thursday, an increase of 0.1 percent.

The Standard & Poor's 500 was up a point at 1,659, or 0.1 percent.

The Nasdaq composite, which is heavily weighted with technology stocks, edged up 11 points to 3,480, or 0.3 percent.

Indexes wavered in morning trading, then moved higher at midday.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
More Money News
Top Stories
MyNorthwest.com - Purpose of Comments statement
Bonneville Media encourages site users to express their opinions by posting comments. Our goal is to maintain a civil dialogue in which readers feel comfortable. At times, the comments can descend to personal attacks. Please do not engage in such behavior. We encourage your thoughtful comments which: have a positive and constructive tone, are on topic, are respectful toward others and their opinions. Bonneville reserves the right to remove comments which do not conform to these criteria.

Comments (1)


  • Add A Comment

  • hnuh wrote...
    This, fellow citizens,
    April 29, 2013 3:01 pm
    is PURE BALDERDASH. Fed injections of fake money which is going mostly through banks into equities, and zero (nearly) rates on bonds sending money in pursuit of return is inflating the stock market bubble.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • { "Thumbs Up":"1","Thumbs Down":"-1" }