Andrew
08-09-2006, 02:25 PM
Wall Street Welcomes Disney, Cisco Earns (http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2006/08/09/financial/f081251D86.DTL&feed=rss.business) -- SFGate/AP, 2006-08-09
Strong earnings from Cisco Systems Inc. and the Walt Disney Co. sent stocks higher Wednesday and helped investors digest the latest monetary policy statement from the Federal Reserve.
Cisco's year-over-year gains and bullish profit forecast helped Wall Street overcome a recent bias against the tech sector, while investors gained confidence in Disney's new management after the entertainment company's latest results beat analysts' forecasts.
Strong earnings from Cisco Systems Inc. and the Walt Disney Co. sent stocks higher Wednesday and helped investors digest the latest monetary policy statement from the Federal Reserve.
Cisco's year-over-year gains and bullish profit forecast helped Wall Street overcome a recent bias against the tech sector, while investors gained confidence in Disney's new management after the entertainment company's latest results beat analysts' forecasts.