GOOD NEWS: Cisco Systems delivered quarterly results that were slightly better than analysts expected. The world’s largest maker of computer networking equipment provided encouraging revenue guidance for the current quarter.
GOOD TIMING: The stock market needed the positive developments after another day of steep declines. It was particularly encouraging to get the lift from Cisco Systems Inc., a part of the widely watched Dow Jones industrial average.
WHAT’S AHEAD: Having already announced plans to cut 6,500 jobs, Cisco says it will make more changes to reduce expenses and increase its focus on products with the most moneymaking potential.