Stock Price Movements of Chegg, Cisco Systems, and more Companies

Chegg Shares Slid by 3.7%

The share prices for Chegg experienced a 3.7% dip in post-market trading. The demise in the share prices for Chegg has observed after the analysts at the KeyBanc Capital Markets downgraded its stock status.

The reports have confirmed that prior to the change, the stock status of Chegg was “overweight”. After the downgrade, the stock status for Chegg has been changed to “sector weight”.

According to the KeyBanc analysts, they are not seeing much growth in educational services and products. The United States market may not provide any support to the educational sectors to become trendy and grow in near future.

Cisco Systems Shares Dipped by 2.6%

The share prices for Cisco Systems ended up experiencing a 2.6% fall in post-market trading. The share prices for the networking equipment manufacturing company ended up taking a fall after the Citi analysts made move on its stock status.

According to reports, the Citi analysts reportedly downgraded the stock status for Cisco Systems to “sell”. Before Citi analysts had downgraded the stock status for Cisco Systems, it was sitting at “neutral”.

The analysts at Citi remarked on the growth of Arista Networks and Juniper Networks. Both companies are fast emerging rivals of Cisco Systems and are showing great potential.

Both Arista Networks and Juniper Networks have very high potential and ground for growth in the network equipment manufacturing sector. Therefore, it is very near that Cisco Systems will have to share its business and market stake with these two major competitors.

JPMorgan Chase Shares Experienced a 3.2% Dip

The share prices for JPMorgan Chase have reportedly dipped by 3.2% in premarket trading. The loss was recorded after JPMorgan Chase executives shared how much the market dislocations cost them.

The dislocations were due to the ongoing war between Russia and Ukraine. The hit that JPMorgan Chase has recorded due to the ongoing Russia-Ukraine conflict is worth $524 million. It is mainly due to the sanctions that have been imposed by the investment firm on Russia.

Despite the $524 million hit, JPMorgan Chase executives confirmed that they had generated very high earnings for the first quarter of 2022. Even the revenue they generated for the particular quarter was higher than the analysts’ estimations. As a for-profit, JPMorgan Chase executives revealed they failed in meeting that.

JPMorgan Chase executives shared their concerns over falling behind in terms of profit. They were extremely concerned about the situation and revealed that compared to the same quarter of 2021, their profit has been very low. They revealed that compared to their first quarter of 2021, their profit was 42% lower.

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