Morning stock check: Cisco Systems up, VMware down

Cisco Systems, Inc. (CSCO) was up nearly two percent in early trading, with Cadence Design Systems, Inc. (CDNS) and Oracle Corporation (ORCL) not far behind.

In a reversal of fortune from earlier this week, VMware, Inc. (VMW) and NVIDIA Corporation (NVDA) were trading down more than two percent Thursday morning. Milpitas-based SanDisk Corporation (SNDK) was also trading down nearly two percent.

Continuing a weeklong trend, Cisco Systems, Inc. (CSCO), Intel Corporation (INTC) and Apple, Inc. (AAPL), respectively, were trading at the highest volume Thursday morning. More than 16 million shares of Cisco Systems exchanged hands Thursday morning.

The Dow Jones Industrial Average, overall, saw the usual ups and downs, but took a dip of approximately a third of a percent downward Thursday morning. It was, however, trending upward.

In other stock news, Pleasanton-based Safeway, Inc. (SWY) announced a rosy forecast for 2008, projecting earnings to rise from $2.25 to $2.35 per share in the upcoming year. San Jose-based solar electric power company SunPower Corp. (SPWR) said Thursday that it has signed an agreement to acquire Italy-based Solar Solutions.

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