Check that AH price again. As of about three minutes ago, it was $14.53, up over 5%.
What Chambers is saying at the conference call is that there will be "continued imporovment in operatons.
It's the type of thing that hack rookie Pfizer CEO Read SHOULD have said but didn't. Even a man as conservative as John Chambers is seeing fit to raise guidance. But Read wouldn't do it despite an ultraconservative original estimate followed by two small beats.
When you issue a conservative original estimate and then beat the first two quarters, you just HAVE to raise at least the lower end of full-year guidance.
A number of analysts have taken down Pfizer's Q3 and Q4 estimates since earnings came out because if you beat in the first half but full-year estimates just remain the same, it means that the company would be expected to MISS in the second half.
By the way, CSCO has moved up some more AH and is now at 414.85, up $1.12 or over 8% from the NYSE close.
I guess that the 413.75 margin-safe point won't be seriously threatened tomorrow.