Cisco Sends Stocks Surging

Solid results from Cisco Systems sent stocks surging on Wednesday.

Cisco’s better than expected results also buoyed shares of Dell and HP , which will report their quarterly results next week. Shares of all three stocks gained more than 5% on the day.

Cisco’s results were welcome relief for investors, who have suffered through a number of high-profile disappointments since the quarterly earnings reporting season began last month. The company’s assertion that business improved as the quarter progressed gave investors hope that the fourth-quarter slump will be temporary, but Cisco’s mixed forward guidance left open the possibility that some weakness may still lie ahead.

The Nasdaq rose 22 to 2266, the S&P 500 gained 10 to 1265, and the Dow surged 108 to 10,858. Volume rose to 2.44 billion shares on the NYSE, and 2.25 billion on the Nasdaq. Advancers led 19-13 on the NYSE, and 17-12 on the Nasdaq. Upside volume was 65% on the NYSE, and 72% on the Nasdaq. New highs-new lows were 71-34 on the NYSE, and 120-32 on the Nasdaq.

Computer Sciences , InterActiveCorp , Aspen Tech , Brightpoint , BMC and Radvision rose on their results.

Segue Software soared 22% on a takeover offer from Borland .

Blue Nile fell 10% on its results.

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