Cisco Systems Inc. Stock Falls Wednesday, Underperforms Market

Verizon Communications Inc

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Communication Services : Diversified Telecommunication Services | Large Cap Value

Company profile

Verizon Communications Inc. is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses, and governmental agencies. Its reportable segments are Verizon Consumer Group and Verizon Business Group. Its Consumer segment provides wireless and wireline communications services. Its wireless services are provided across wireless networks in the United States (U.S.) under the Verizon brand. Its wireline services are provided in nine states in the Mid-Atlantic and Northeastern U.S., as well as Washington D.C., over its fiber-optic network under the Fios brand and over a traditional copper-based network. Its Business segment provides wireless and wireline communications services and products, including data, video and conferencing services, security and managed network services, local and long-distance voice services and network access to deliver various Internet of Things services and products.

Cisco Systems Inc. Stock Falls Wednesday, Underperforms Market

4:48 pm ET January 18, 2023 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Cisco Systems Inc. (CSCO) slipped 2.45% to $46.90 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index falling 1.56% to 3,928.86 and Dow Jones Industrial Average falling 1.81% to 33,296.96. This was the stock's fourth consecutive day of losses. Cisco Systems Inc. closed $12.59 short of its 52-week high ($59.49), which the company reached on January 19th.

The stock underperformed when compared to some of its competitors Wednesday, as Microsoft Corp. (MSFT) fell 1.89% to $235.81, Amazon.com Inc. (AMZN) fell 0.61% to $95.46, and Broadcom Inc. (AVGO) fell 0.85% to $574.29. Trading volume (19.9 M) eclipsed its 50-day average volume of 18.6 M.

Data source: Dow Jones Market Data, FactSet. Data compiled Janurary 18, 2023.

(END) Dow Jones Newswires

January 18, 2023 16:48 ET (21:48 GMT)

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Cisco Systems Inc. Stock Falls Wednesday, Underperforms Market