Dow Today: Cisco Systems (CSCO) Leads The Day Higher, Chevron (CVX) Lags
The Dow component that led the way higher today was Cisco Systems (Nasdaq:CSCO), which sported a 14-cent gain (+0.5%) bringing the stock to $25.97. Holding the Dow back today was Chevron (NYSE:CVX), which lagged the broader Dow index with a $1.28 decline (-0.9%) bringing the stock to $133.57.
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link. The Dow Jones Industrial Average ( ^DJI) closed down 123.0 points (-0.7%) at 16,960. During the day, 262.8 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 305.3 million. The NYSE advances/declines ratio closed at 1,015 issues advancing vs. 2,014 declining with 142 unchanged.
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The Dow component that led the way higher today was Cisco Systems (Nasdaq: CSCO), which sported a 14-cent gain (+0.5%) bringing the stock to $25.97. Volume for Cisco Systems ended the day at 28.6 million shares traded vs. an average daily trading volume of 30.4 million shares. Cisco Systems has a market cap of $131.55 billion and is part of the technology sector and computer hardware industry. Shares are up 15.2% year-to-date as of Thursday's close. The stock's dividend yield sits at 3%. Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP) and other products related to the communications and information technology industry worldwide. TheStreet Ratings rates Cisco Systems as a buy. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.