Cisco Systems (CSCO) said all the right things in its third-quarter earnings report. It announced job layoffs of around 4,000 staff, along with strong revenue and earnings.
In Q3, Cisco grew its revenue by 11.9% to $15.84 billion. Non-GAAP EPS was $1.06. For Q4, revenue is up to $16.9 billion. For the year, the non-GAAP EPS of $4.27 - $4.29 is above consensus. CEO Chuck Robbins said that the AI era rewards companies that are focused and have a sense of urgency.
Marvell Technologies (MRVL) will look to add to its 8.18% gain on Wednesday. AMD announced a small investment worth just $6.5 million. In March, it bought 65,516 shares, which are now worth over $11 million. In the semiconductor sector, ON Semi (ON) gained 11%, despite posting no news.
Among the slumping stocks to watch, look at Applovin (APP). Shares fell by 7.6% on Wednesday, after buyer exhaustion increased at the $500 level. The stock failed to break above that price since March.
FactSet (FDS) will test the $201 support price today. Despite raising its dividend by 5.5% on May 5, valuations are too high.
Constellation Energy (CEG) risks forming a downtrend. On May 11, it posted revenue growth of 63.8% Y/Y to $11.12 billion. Its 2026 earnings outlook of $11.00 - $12.00 is above consensus.
