at Zacks.com (Nov 18, 2014)
Though many names with telecom capex exposure are off today in sympathy with Adtran, Cisco (CSCO +2%) is rallying thanks to bullish Morgan Stanley remarks about enterprise/government sales. A survey of Cisco resellers found 50% reporting business has been above plan over the last 3 months, and only 7% claiming it's been below plan. Also, MS' checks indicate U.S. federal sales have been "stronger than seasonal." The firm does caution, however, that EMEA "remains a weak spot."