Cisco shares sink

Bradley Prior

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Cisco shares sink

Cisco Systems Inc. declined the most intraday in more than two years after the company gave a lackluster sales forecast, indicating the U.S.-China trade dispute and a slowing global economy are leading customers to delay updates of their computer networks.

Chief Executive Officer Chuck Robbins is trying to turn Cisco into more of a software and services company, but the transformation is being stymied by the trade war and its impact on corporate spending. [Bloomberg]
 
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