Cisco Systems (CSCO) was in full recovery mode this morning, lately up 44 cents to $31.50 on 120,870 shares on electronic brokerage Instinet.
Inspired by Tuesday's
surprising postclose earnings announcement, the networking giant was hit with a big selloff yesterday, falling $4.69, or 13%, to $31.06 on 282 million shares traded, the second-most ever for one stock on the
Investors seemed to want to start today differently. Early on, futures were pointing to a bit of a pop at the opening bell. The
S&P 500 futures on
lately were up 2 to 1352, about 6 points above fair value as calculated by
. The thinly traded
futures were up about 14 to 2457, or about 34 points above fair value as calculated by
Europe's major indices were tentatively higher, with France's
up 0.6%, Germany's
up 0.9% and the U.K.'s
inching 0.03% higher. Japan's
dropped 1.7% overnight, while Hong Kong's
For more on the world stock markets, check out
For Wednesday's postclose trading, see The Night Watch.