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CNN Live At Daybreak

Cisco Systems Provides Cautious Comments Going Forward

Aired February 07, 2002 - 06:22   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Hey, Jennifer Westhoven is back with us this morning with a check on business.

JENNIFER WESTHOVEN, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.

Yes, and we've got four sessions of -- on the downside for the stock market. And at this point, the futures really only giving a mixed picture so no optimism there. Stock index futures at this point pointing to a modestly lower opening for the broader market and technology stocks.

It was another choppy session for the Dow Jones industrial average, it ended up losing 32 points. The Nasdaq down even harder, 1.5 percent. Yesterday's losses now have the Nasdaq and the Standard & Poor's 500 index at their lowest level since about the start of November.

And Cisco Systems came out with its results after the bell yesterday. It doesn't look like they are going to provide any optimism for the market. It posted lower earnings, as expected, but investors focusing on its cautious comments going forward from the Internet gear maker. Cisco said sales this quarter will be flat to just slightly higher. Its shares are off 65 cents in premarket trading.

And that's a quick check on business news.

Carol, back to you in Atlanta.

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