Stock Market Shakeup: Cisco Slumps After Beating Earnings Estimates

Cisco Systems' recent earnings report had investors reeling as shares tumbled 8.4% on Thursday after the networking equipment company reported fourth-quarter revenue of $17.25 billion, surpassing analyst estimates of $16.82 billion.

However, not all stocks experienced a decline. Union Pacific Corporation saw its shares rise 1.4% to close at $297.79 following better-than-expected second-quarter financial results announced on July 23.

CrowdStrike Holdings also gained traction with its stock price increasing by 1.7% to settle at $225.53, according to analyst Rustam Kanga of Citizens who maintained CrowdStrike with a Market Outperform and raised the price target from $195 to $230 on August 12.