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Cisco Systems (
CSCO) hosted its annual Financial Analyst Conference in New York, an event that's attended by the Wall Street research departments that cover the $108 billion IP networking hardware and software firm. During the conference, CFO Frank Calderoni announced that CSCO expected lower growth outlooks than Wall Street had been pricing in, spurring a small loss on high volume today.
The news is just the latest in a series of negative fundamentals from Cisco -- and you can see it in the chart. CSCO is at the bottom of a downtrending channel, a bearish setup that points to little buying activity in this stock.
I'd suggest staying away from shares.
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