Cisco CEO’s turnaround taking hold
Cisco Systems Inc., the world’s largest maker of networking equipment, rose the most in three months on progress tied to chief executive John Chambers’ turnaround plan. Profit climbed to 43 cents a share in the first quarter, the company said. Analysts predicted 39 cents, on average. Chambers is boosting profit at Cisco by eliminating jobs, trimming operating expenses, and revamping the management structure.