The U.S. stocks fell short of hitting a record high for a second day, and the Dow fell in the wake of a disappointing forecast from Cisco Systems
- The S&P 500 ended slightly lower on Thursday after briefly trading above its record closing high level for a second day, and the Dow also fell in the wake of a disappointing forecast from Cisco Systems Inc .
An 11.2% slump in shares of Cisco Systems weighed on the Dow and S&P 500 after the company forecast first-quarter revenue and profit below estimates. “The outlook for earnings in the next few quarters seems to be getting watered down by a lot of big companies,” said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.
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