Entain Surges on Earnings, Cisco Slumps on Revenue Miss

Entain, the parent company of Ladbrokes and Coral, has seen its stock price soar by nearly 4% after releasing strong quarterly results. The online gaming operator reported a 34% increase in revenue to £1.3 billion for the first half of the year.

The news comes as shares of Cisco Systems slumped by over 7%, following an underwhelming earnings report from the technology giant. Despite beating analyst expectations, Cisco's quarterly revenues were $12.9 billion, below the predicted $13.2 billion.

In other market news, Reddit has been added to the S&P 500 index, a move that will increase demand for the social media platform's shares and potentially drive up their price.