Market Deserves More Credit for Cisco's Rally

MarketWatch even ran an article speculating on why Cisco did so well in after-market trading despite the fact that its report was just decent. The headline of the article was "Does Wall Street see a bottom for Cisco?" with the subheadline "Commentary: Tech giant gets after-hours boost despite ho-hum report."

But while there was plenty of speculation about CEO John Chambers' salesmanship ability (the article even ended with a reference to investors liking "Chambers' southern boy charm"), there was not a word about the market's happy-go-lucky day.

Chambers, don't forget, was one of the first in the technology field to be cautious, and going out, Cisco was so cautious it was not even giving forecasts for very far into the future. If he really were just a Southern boy seeking to charm investors from their wallets for short-term gain, he could have done better than that.

No, a big reason why Cisco was greeted with flowers and chocolates for a good-not-great report was the day it came on. It's at least worth a simple mention.

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