Cisco’s stock has climbed 18 percent and is the second biggest gainer among Dow components this year as investors bet on the company’s turnaround under Chief Executive Officer Chuck Robbins. Since taking the helm in July 2015, Robbins has steered the hardware giant away from its traditional business of supplying switches and routers and into newer growth areas such as cloud, Internet of things and cyber security. Revenue from the business, which provides technical and internet network support, rose 3 percent to $3.16 billion but fell short of estimate of $3.24 billion, according to Thomson Reuters I/B/E/S. …read more
Source:: Yahoo Finance
