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Why Cisco Stock Tanked 16.7% This Week

·2 min read
Why Cisco Stock Tanked 16.7% This Week
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Shares of Cisco Systems (NASDAQ: CSCO) tumbled this week, according to S&P Global Market Intelligence. The maker of networking, software, and cloud-computing solutions posted weak revenue numbers for its fiscal third quarter and is guiding for a decrease in revenue in the fourth quarter. After the market closed on Wednesday, Cisco reported its earnings for the three months ending in April.