Wall Street mixed as Cisco sinks and Nvidia recovers – Reuters
- Date: 20-May-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
Wall Street mixed as Cisco sinks and Nvidia recovers – Reuters
May 19 (Reuters) - Wall Street was mixed on Thursday, with Cisco Systems slumping following a dismal outlook, while Nvidia and other megacap growth stocks rebounded after recent losses.
Shares of Cisco (CSCO.O) dropped 14.4% after the networking gear maker lowered its 2022 revenue growth outlook, taking a hit from its Russia exit and component shortages related to COVID-19 lockdowns in China. read more
Some megacap growth stocks that have badly underperformed in recent months made gains and kept the Nasdaq in positive territory. Nvidia (NVDA.O) rose 2.9%, while Amazon (AMZN.O) and Tesla (TSLA.O) were each up around 1%.