Updated from 10:35 a.m.
was up 8.6%, the most active stock on the
, on reports that the large corporation networking market in North America is stabilizing.
Morgan Stanley Dean Witter
analyst Christopher Stix suggested this morning that the
rate cuts were having an effect on investor confidence, raising technology spending and improving the outlook for Cisco. However, the analyst added that he can't justify the company's valuation at higher prices.
Other networkers also benefited, including
, up 15.6%, and
, up 8.8%.