Cisco Falls After Earnings, McDonald's Sees Sales Growth, Zillow Tumbles

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

Cisco (CSCO) gave a weaker-than-expected forecast for profitability in the current quarter, overshadowing a generally positive outlook fueled by artificial intelligence gains. Cisco, the largest maker of networking equipment, has increased spending to create new AI-focused products. The tech industry also is coping with a threat from memory-chip shortages, which is boosting costs. The shares fell about 4% in late trading after the report was released. Cisco’s stock gained 30% last year.-

McDonald's (MCD) saw its US sales grow at the fastest pace in more than two years in the fourth quarter as value meals continued to resonate with cost-conscious diners. Sales from established US restaurants jumped 6.8% in the period from a year ago when foot traffic was dented by an E. coli outbreak, ahead of expectations and the highest since 2023. Earnings, excluding one-time items, also outpaced the average of estimates compiled by Bloomberg, as did comparable sales at the company’s two international divisions. The shares rose 2% at 4:04 p.m. in extended trading in New York. The stock has advanced nearly 6% this year, outpacing the gain of the S&P 500 Index over the same period.

- Zillow (Z) shares tumble as much as 18% on Wednesday after the home-search site forecast adjusted Ebitda for the first quarter that missed the average analyst estimate as the firm contends with legal costs and expenses from its partnership with Redfin.

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