Biggest stock movers Thursday: CSCO, DOCS, and more

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Stock futures edged up early Thursday as traders looked for signs of progress in high-level diplomatic discussions between Washington and Beijing.

Here are some of Thursday's biggest stock movers:

BIGGEST STOCK GAINERS

* CISCO SYSTEMS (CSCO [https://seekingalpha.com/symbol/CSCO]) +20% - Shares surged after the company delivered an FQ3 earnings beat, raised guidance, and unveiled a major AI-focused restructuring plan. Cisco said it will cut roughly 4,000 jobs, or about 5% of its workforce, as it reallocates resources toward AI infrastructure and high-speed networking opportunities tied to next-generation data centers. The company expects to incur about $1B in restructuring charges, primarily cash-based, spread across fiscal 2026 and 2027. CEO Chuck Robbins emphasized the move is focused on repositioning talent rather than on pure cost savings. Investor sentiment was further boosted by stronger-than-expected guidance, including FY2026 revenue of $62.8B–$63B and a sharp increase in Cisco’s AI infrastructure order outlook to $9B from $5B previously.

BIGGEST STOCK LOSERS

* DOXIMITY (DOCS [https://seekingalpha.com/symbol/DOCS]) -21% - Shares plunged after reporting FQ4 results that included an EPS miss and weaker-than-expected forward guidance. While revenue of $145.4M slightly topped estimates, investors focused on the company’s softer outlook for both Q1 FY2027 and the full fiscal year, with revenue guidance coming in below Wall Street expectations. The cautious forecast raised concerns about slowing growth momentum and potential pressure on advertising and pharmaceutical spending trends tied to Doximity’s healthcare platform business.
* ENOVIX (ENVX [https://seekingalpha.com/symbol/ENVX]) -8% - Shares slid as investors focused on widening losses, persistent cash burn, and delays in scaling commercial production despite a Q1 revenue beat. Revenue rose 49% Y/Y to $7.6M, topping guidance, while adjusted loss per share of $0.14 beat estimates. However, net loss widened to $38.3M from $23.5M a year ago, and free cash flow remained deeply negative at -$36.3M as the company continued investing in manufacturing scale-up. Management highlighted progress in smartphone battery qualification and expansion into smart eyewear, drones, and defense markets but acknowledged qualification timelines remain longer than expected. Q2 guidance called for revenue of $8M–$9M and a non-GAAP loss per share of $0.13–$0.17, reinforcing concerns about the long path to meaningful profitability.
* KODIAK GAS SERVICES (KGS [https://seekingalpha.com/symbol/KGS]) -5% - Shares fell after pricing a public offering of 10.56M shares at $71 per share. The company also granted underwriters a 30-day option to purchase up to an additional 1.58M shares. Investors reacted negatively to the potential dilution from the sizable equity raise, despite Kodiak stating that the proceeds will be used for general corporate purposes.

MORE ON RELATED STOCKS:

* Doximity, Inc. (DOCS) Q4 2026 Earnings Call Transcript [https://seekingalpha.com/article/4904215-doximity-inc-docs-q4-2026-earnings-call-transcript]
* Enovix Corporation (ENVX) Q1 2026 Earnings Call Transcript [https://seekingalpha.com/article/4904208-enovix-corporation-envx-q1-2026-earnings-call-transcript]
* Cisco Systems, Inc. (CSCO) Q3 2026 Earnings Call Transcript [https://seekingalpha.com/article/4904216-cisco-systems-inc-csco-q3-2026-earnings-call-transcript]
* Doximity shares plunge 20% on soft guidance and AI margin pressures [https://seekingalpha.com/news/4592734-doximity-shares-plunge-20-on-soft-guidance-and-ai-margin-pressures]
* Cisco rally puts spotlight on ETFs with exposure to the stock [https://seekingalpha.com/news/4592735-cisco-rally-puts-spotlight-on-etfs-with-exposure-to-the-stock]