Diamonds and Dogs
Big Cap techs continue to shine. Cisco Systems (CSCO) rose 2% to a new 52 week high thanks to better than expected earnings and forecasted better quarterly revenue for the current quarter. Both the CEO and CFO of the routing and server giant explained that the company is transforming to a software-centric outfit to generate more cash flow. Cisco raised their dividend 12% and yields 3.4%. Not bad for a stock at a 52 week high.
TripAdvisor (TRIP) needs to come back from vacation. The Internet travel agency company tumbled 10% after missing earnings by 15 cents while also missing sales. Revenue only rose 2.3% year over year. The Chief Financial Officer Ernst Teunissen said their significant investments in their growth initiatives dampened full year 2016 financial results. The company is looking for a turnaround, but investors are not so sure.