Stocks soared Wednesday, with the Nasdaq composite logging the largest gain in more than a year, as Cisco Systems Inc.’s upbeat earnings set off a buying stampede.

The Nasdaq surged 122.47 points, or 7.78 percent, to 1,696.29, according to data.

The Dow Jones industrial average leaped 305.28 points, or 3.10 percent, to 10,141.83.