#5 Worst Dow Stock: Cisco
Enterprise technology giant Cisco (NASDAQ:CSCO) has been struggling since 2011 when longtime CEO John Chambers announced a stark restructuring that resulted in thousands of layoffs, the shutdown of many consumer products and the announcement of the first-ever Cisco dividend.
Too bad those moves have failed to yield success. The stock slumped about 10% in 2011 and is tracking similarly poor performance in 2012.
Most recently, Cisco shares were slammed in May after the tech giant posted a poor fiscal Q4 outlook. Cisco blamed the broader economic environment as the source of its troubles, with uncertainty in Europe weighing on businesses when they decide to upgrade their technology equipment.
That might be fair. Top competitor Juniper Networks (NYSE:JNPR) is hurting even more than Cisco this year, with an ugly 24% decline despite broader strength in the tech sector. But it doesn’t make shareholders feel any better about this laggard’s performance.