Cisco stock slides toward worst day since 2011 after earnings

Cisco Systems Inc. shares
CSCO,
-11.52%
are off 11.6% in Thursday morning trading after the company reported declining fiscal-fourth quarter revenue and gave a downbeat outlook for the current period. The stock is on track for its worst single-day percentage drop since Feb. 10, 2011, when it fell 14.2%. “Guidance for the October quarter was the issue,” wrote Barclays analyst Tim Long, “raising concerns that CSCO’s relative resilience thus far may be waning as the effects of the pandemic ca…

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