(Reuters) - Cisco, the world's largest maker of equipment that directs Internet traffic, issued an outlook in line with forecasts, but analysts said investors had hoped for a positive surprise. Its shares fell 5 percent and were the top drag on the S&P 500 and Nasdaq 100 indexes.
"Obviously, the Cisco situation was somewhat disappointing, and that's raining on tech land, but I think the market needs to pause," said Stephen Massocca, co-chief executive at San Francisco-based investment bank Pacific Growth Equities. "We've had a tremendous, dramatic rally, so it's not difficult to think the market would pause."
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