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Cisco Pulls Back Off Record Intraday High But Remains Firmly Positive

Shares of Cisco Systems (CSCO) have pulled back well off their highs of the session but continue to see notable strength in afternoon trading on Thursday. After reaching a record intraday high, Cisco is currently up by 4.5 percent.

The gain by Cisco comes after the networking giant reported better than expected adjusted second quarter earnings. Cisco also approved a $25 billion increase to its stock repurchase program.

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