Cisco stock faces worst day in nearly a decade as analysts say cost cuts signal coronavirus as long-term overhang
August 13, 2020 at 13:14 PM EDT
Cisco Systems Inc. shares face their worst one-day drop in nearly a decade as analysts digest the networking giant’s decision to circle the wagons in the form of cost cuts as the company suffers from increasingly selective enterprise spending as the COVID-19 pandemic drags on.