'Fast Money' Recap: Cisco Soars

NEW YORK (TheStreet) -- Shares of Cisco's(CSCO) rose sharply in after-hours trading Wednesday on a strong earnings report and outlook.

The regular trading session was mixed. The Dow Jones Industrial Average fell 26.30, or 0.26%, to 10,270.55 and the S&P 500 dropped 6.04, or 0.55%, to 1,097.28. The Nasdaq eked out a gain of 0.85, or 0.04%, to 2,190.91.

Pete Najarian said on CNBC's "Fast Money" TV show the strong numbers in every metric in Cisco's earnings demonstrates it's a "growth company again with potential for greater growth ahead." He was especially encouraged about the company's positive comments about the corporate spending market.

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Guy Adami said Cisco, which was up 4% in after-hours trading, reported a great quarter and is probably at a valuation level where investors can own it. He said Cisco's earnings were really not that much better than those of IBM(IBM) and Microsoft(MSFT) except that its stock was rising after a selloff.

Gary Kaminsky said Cisco's earnings is different from its peers because it's the first large-cap tech company to open up higher after great numbers and continue to trade higher. By contrast, he said its peers sold off after favorable reports as a result of profit taking.

Melissa Lee, the moderator of the show, said that CEO John Chambers said that the gains were across the board in the company's business model and geographically around the world.