Feng Huang Wang Cai Jing·2025-11-13 14:44Market Overview - US stock market opened lower with Dow Jones down 0.29%, Nasdaq down 0.61%, and S&P 500 down 0.42% [1] Company Performance - Disney's Q4 revenue was $22.5 billion, below market expectations, with adjusted EPS of $1.11, a year-on-year decline of 3% [1] - Cisco's Q1 revenue increased by 8% year-on-year to $14.88 billion, raising its full-year revenue guidance to between $60.2 billion and $61 billion [1][4] - Alibaba's stock rose over 4% amid reports of its "Qianwen" project, aimed at developing a personal AI assistant to compete with ChatGPT [2] - Baidu launched its Wenxin large model 5.0 with over 2.4 trillion parameters and announced the upcoming release of its Kunlun chips M100 and M300 in 2026 and 2027, respectively [3] Stock Movements - Cisco's stock surged over 5% due to AI-driven demand growth and an upward revision of its revenue guidance [4] - Chinese stocks showed mixed performance with Xunlei up over 5%, Alibaba up over 3%, and Bilibili down over 7% [1]