NEW YORK (AP) — Stocks are ending the day with modest gains. Cisco Systems Inc. led the 30 companies in the Dow Jones industrials Wednesday after the CEO promised to take “bold steps” to narrow the company’s focus.
CEO John Chambers said in a memo to employees that recent missteps were “unacceptable” and promised major changes. Cisco rose 5 percent.
Other technology companies made gains. Hewlett-Packard Co., Microsoft Corp. and chipmaker Qualcomm Inc. were all higher.
The Dow Jones industrial average rose 33, or 0.3 percent, to 12,427.
The S&P 500 index edged up 3 points to 1,335. The Nasdaq composite index rose 9 points, or 0.3 percent, to 2,800.
More than four stocks rose for every three that fell on the New York Stock Exchange. Trading volume was 4 billion shares.
