Gains Reversed With Sharp Fall in Stocks (TM, CSCO)

After the end of a six day losing stream, the markets took a sharp turn downward today. Analysts are conflicted as to how to explain this. Some have suggested that the European Union’s talk of “rescheduling” Greece’s debt payments may be the primary factor. Canadian markets experienced a similar fall. In corporate news, Toyota (TM) is forecasting a $1.6 billion reduction in annual net profit, a drop of nearly one-third. Meanwhile, there’s evidence to suggest that Cisco’s (CSCO) stock price, which has fallen by about 30% since February, may be undervalued.

Word on the Street

• Stocks fell dramatically, reversing yesterday’s gains.
• Toyota (TM) reported that it expects its annual net profit to fall by 31%.
• Insider trading probes have convicted 40 individuals since 2009.
• Canadian stocks are down as well.
• The Federal Reserve is looking to expand the number of banks reporting their finances to them.
• Some evidence suggests that Cisco (CSCO) may currently be undervalued.

Interesting Tidbits

• How to balance the push and pull methods for improvement.
• How to figure out what your customers will want, rather than what they say they want.

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