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Stocks - Cisco, JP Morgan, Walmart Gain in Pre-market; JC Penney Crashes

Investing.com - Stocks in focus in pre-market trade Thursday:

• Cisco (NASDAQ:CSCO) stock jumped 3.59% by 8:07 AM ET (13:07 GMT) as the company beat estimates for quarterly revenue and profit and provided a better-than-expected guidance for fiscal second-quarter revenue.

• JPMorgan Chase (NYSE:JPM) stock gained 1.55% after a regulatory filing showed that Warren Buffett’s Berkshire Hathaway (NYSE:BRKa) had a $4.02 billion stake in the bank. PNC Financial (NYSE:PNC), Travelers (NYSE:TRV) and Oracle (NYSE:ORCL) were among other companies in which Berkshire was invested.

• Walmart (NYSE:WMT) stock advanced 0.23% after the company’s U.S. comparable sales rose more than expected in the third quarter.

• JC Penney (NYSE:JCP) stock crashed 9.84% as the company’s same-store sales fell well short of estimates.

• NetApp (NASDAQ:NTAP) stock sank 5.70% despite reporting better-than-expected quarterly results. As of Wednesday’s close, the company’s shares were up around 40% year to date.

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