MARKET PULSE-Cisco, Amazon, Clovis, Zendesk, NQ Mobile, Alcoa
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks dropped more than 1 percent on Thursday, fueled by a selloff in small-cap stocks and disappointing results from Wal-Mart. The Dow Jones industrial average was down 1.18 percent at 16,418.62 and the S&P 500 was down 1.20 percent at 1,865.84.
** CISCO SYSTEMS INC, $24.38, +6.88 pct
The network equipment maker posted strong quarterly results and signaled recovering demand in the United States and Northern Europe.
At least 18 brokerages raised their price targets on the company's stock.
** WAL-MART STORES INC, $76.75, -2.53 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.