MARKET PULSE-Cisco, Wal-Mart, Sorrento, Zendesk, NQ Mobile, Fonar

Thu May 15, 2014 11:53am EDT
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(For more market insights, including options activity, click on ; for the Day Ahead newsletter; for the Morning News Call newsletter, U.S. stocks extended their losses into a second day on Thursday, as weaker-than-expected earnings from Wal-Mart and a selloff in momentum stocks overshadowed positive economic reports. The Dow Jones industrial average was down 1.12 percent at 16,428.06 and the S&P 500 was down 1.24 percent at 1,865.2.

** CISCO SYSTEMS INC, $24.3401, +6.71 pct

The network equipment maker posted a shallower-than-expected 5.5 percent drop in quarterly revenue, as recovering demand in regions like the United States and Northern Europe helped offset sluggish sales in emerging markets.

At least 13 brokerages raised their price targets on the company's stock.

** WAL-MART STORES INC, $76.88, -2.36 pct

The company forecast second-quarter profit below analysts' estimates after reporting its smallest growth in quarterly sales in nearly five years, as a severe winter kept shoppers away from its stores.