Cisco Systems' shares crumbled in a bad state in after-hours of trading on Wednesday following technology firm's report of second-rate proceeds' results and John Chambers, the CEO of the firm, showed his annoyance over not being able to define the current scenario of the financial system.
Joe Terranova of Vitrus Investment Partners said that the sell-off jives with the total sentiment of all the money managers for now. It means that one needs to sell first and then should ask any question.
Gary Kaminsky, a contributing editor at CNBC, is in confusion over whether Chambers had `flip-flopped' on his stake that had been placed in the economy.
Kaminsky said that it wasn't long ago that Chambers was all in joy but now was apprehensive and worried.
He said that with the Federal Reserve having shown concerns in regards to the expansion and development of the US economy and the indecision from Cisco, seeing all this made the labyrinth even more complicated.
The interest rates are here to stay for long in the United States of America and this is why it is advisable to enter equity income securities, such as property investment trusts.
Terranova is of the view that Wednesday's bad performance was partly because of firms being tied to China, with the People's Republic looking not so encouraging, therefore hampering the boost for others.
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