Cisco Gains, Cerebras Declines, Virgin Galactic Falls

Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:

- Cisco Systems (CSCO) gave a sales projection for the current quarter that exceeded Wall Street’s expectations, a sign of success for the company’s efforts to supply a larger share of the AI data center market. The company attributed the strong sales to “broad-based, record high demand for Cisco technology” and expects AI momentum to remain strong. Cisco shares gained 1% to $125.19 in late trading, and the stock was up 61% this year through Wednesday’s close.

- Cerebras Systems (CBRS) reported a decline in hardware revenue, which fell to $54.1 million, and shares of the company fell about 17% in late trading. Revenue from the company's cloud division nearly quadrupled to $126 million, and the company expects total sales to exceed Wall Street estimates in the current period. Cerebras posted total sales of $180.1 million, up 74% from a year earlier, and plans to more than triple its revenue in 2027.

- Virgin Galactic Holdings (SPCE) is delaying the debut of its Delta-class spaceplane until February of 2027 to allow for additional time to complete avionics and systems installations. The company reported revenue of about $134,000 for the quarter and posted a smaller-than-expected net loss, with cash and cash equivalents standing at $187.3 million. Virgin Galactic booked new spaceflight expeditions, representing an additional $50 million in expected revenue, and plans to open bookings again in the US fall timeframe at a higher price than the current $750,000 per ticket.

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