Stocks moved sharply Thursday as a fresh wave of earnings reports hit the market. Investors were also watching for July wholesale inflation data that could shape the Federal Reserve’s next move on interest rates.
Cisco reported fiscal fourth-quarter revenue of $17.3 billion, up 18% year over year, beating the $16.85 billion estimate. Adjusted earnings per share came in at $1.22, above the $1.17 forecast.
Despite the beat, shares fell 6%. The issue was gross margin, which declined from the same period last year, unsettling investors.
Cisco’s product orders grew 35% year over year, with networking orders up 40% for an eighth straight quarter. The company guided first-quarter fiscal 2027 revenue to $18 billion to $18.2 billion, above consensus. Full-year 2027 revenue guidance of $72.2 billion to $73.4 billion also topped estimates.
Management expects $7.5 billion in AI-related hyperscaler revenue in fiscal 2027, with hyperscaler orders more than doubling in the fourth quarter.
Cerebras Systems shares dropped between 17% and 19% after the AI chipmaker posted a big earnings miss. Revenue rose 74.3% year over year to $180.1 million but fell short of the $194 million estimate. Adjusted earnings per share came in at -$2.98, well below the -$0.17 estimate.
Core gross margin improved to 41%, and management said cloud revenue nearly quadrupled year over year. The company’s backlog held steady at around $25 billion.
For the third quarter, Cerebras guided core revenue to $214 million to $216 million, ahead of consensus. Full-year 2026 core revenue is projected at $880 million to $890 million.
StubHub fell 17% after reporting a second-quarter loss. The ticket resale platform saw a revenue boost from the 2026 FIFA World Cup, but surging costs offset those gains.
Coherent dropped 4.4% despite posting better-than-expected earnings. Investors had set high expectations following rival Lumentum’s strong results earlier in the week.
JD.com slipped 3.2% even after the Chinese e-commerce company beat Wall Street’s second-quarter earnings and revenue targets.
On the positive side, Omeros surged 15% after strong second-quarter results driven by the launch of YARTEMLEA, which generated $32.2 million in gross revenue, up 190% from the first quarter.
Fossil rose 7% after beating earnings expectations and raising its full-year outlook. Gross margin expanded nearly 490 basis points to 62.4%.
Virgin Galactic fell 11% after the company pushed back its commercial service launch to February 2027, citing delays in avionics and systems work.
The post Today’s Market Movers: Cisco, Cerebras, StubHub, and Coherent Lead Stock Declines appeared first on CoinCentral.
