Doug Kass Buys Cisco (CSCO) On After-Hours Dip
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On Twitter, noted trader Doug Kass said he just bought some Cisco (Nasdaq: CSCO), which is down after-hours following ho-hum earnings.
Kass said he entered the stock at $22.50, which is just below the current price of $22.58. Today's close was $23.73, reflecting a 5 percent after-hours downside move.
Cisco reported Q4 EPS of $0.43, ex-items, 1 cent better than the analyst estimate of $0.42. Revenue for the quarter was $10.8 billion, which compares to the estimate of $10.87 billion.
Kass said he entered the stock at $22.50, which is just below the current price of $22.58. Today's close was $23.73, reflecting a 5 percent after-hours downside move.
Cisco reported Q4 EPS of $0.43, ex-items, 1 cent better than the analyst estimate of $0.42. Revenue for the quarter was $10.8 billion, which compares to the estimate of $10.87 billion.
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