The major US indices are closing the day higher. However, the broader indices in particular are well off their intraday highs:
- Dow Industrial Average rose 163.51 points or 0.47% at 34991.22. At session highs, the index was up 223.39 points.
- S&P index rose 7.18 points or 0.16% at 4502.89. At session highs, the index was up 25.46 points.
- NASDAQ index rose 9.44 points or 0.07% at 14103.83. At session highs, the index was up 99.90 points
- The small-cap Russell 2000 rose 2.895 points or 0.16% at 1801.22. At session highs, the index was up 31.67 point
After the close Cisco systems announced their earnings:
- EPS came in at $1.11 versus $1.03 estimate
- Revenues came in at $14.67 billion versus 14.62 billion estimate
However, forward guidance showed light revenues and earnings outlook.
Cisco shares are trading down $5.07 or -9.46% at $48.37 in after-hours trading.
Palo Alto networks have also announced earnings:
- EPS $1.38 versus $1.16 estimate
- Revenues come in at $1.88 billion versus $1.84 billion estimate
- Sees Q2 revenues at $1.95 billion – $1.98 billion versus $1.96 billion estimate
- Sees Q2 EPS $1.29 – $1.31 versus $1.25 estimate
Issues week billing guidance despite the positive estimates and guidance.
Shares of Palo Alto networks are also down sharply. They are currently trading down $22.68 or -8.85% at $233.50.