US banks stay away from Cisco in Q1
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Sub-prime takes the shine from quarter Cisco System profit rose 37 per cent in its first quarter '08, with growth in the networking equipment maker's international segments offsetting a "lumpy" US enterprise market.â¦
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US stocks were volatile on Thursday after Cisco (NASDAQ:CSCO)'s downbeat outlook added to concerns about the prospects for corporate tech spending.
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Cisco Systems Inc. shares had their biggest decline in three months, dragging down other technology stocks, after Chief Executive John Chambers said sales growth will slow this quarter
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US stocks ended flat on Wednesday, as tech stocks came under pressure from disappointing earnings from technology bellwether Cisco Systems Inc.
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Cisco (NASDAQ: CSCO) announced today participation in the following upcoming events with the financial community, for the month of February, all of which will be webcast. Interested parties can view these events on Cisco's Web site at http://www.cisco.com/go/investors.
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Cisco will pay approximately $200 million in cash and options. The acquisition of P-Cube is subject to various standard closing conditions and is expected to close in the first quarter of Cisco&#39;s fiscal year 2005.
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Shares of technology bellwether Cisco Systems Inc. (CSCO.O: Quote, Profile, Research) fell more than 6 percent on Wednesday, as the company&#39;s disappointing revenue outlook
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Cisco Systems has reported first-quarter profits of $1.4 on sales of $6 billion. Despite cautious spending by its corporate customers, softness in the global economy and a lingering uncertainty over whether
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The first week of September, the unofficial start of the new season, has been hectic for IT investors. Analysts are scrambling to parse through news from networking giants Cisco Systems Inc., Alcatel SA and Lucent Technologies Inc., and a board fracas at Hewlett-Packard Co. caused the company to come under the scrutiny of the U.S. Securities and Exchange Commission as well as the California State Attorney General.
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Cisco Systems' quarterly profit jumps 37%, but its shares fall sharply amid fears about US firms cutting network spending.
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U.S. stocks to watch: CISCO SYSTEMS  INC. CSCO.O Cisco, the world's largest maker of gear for  directing Internet traffic, on Monday distributed 162 million  merit-based common stock options to employees, including 1.5  million to Chief Executive John Chambers. Its shares ended at  $19.18 on Nasdaq.
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Cisco Systems Inc   gave a disappointing outlook on Wednesday and warned  of a rapid slowdown in U.S. and European orders, driving its  shares down 8 percent and adding to broader fears of a U.S.  recession.
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Shares of networking giant Cisco Systems Inc. led an overall decline in the tech sector in Wednesday trading after an analyst downgraded the stock and highlighted warning signs for slowing sales in the coming months.
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U.S. stocks were near the unchanged  mark on Wednesday as results from technology bellwether Cisco  Systems disappointed Wall Street, while investors await an  expected interest rate hike from the Federal Reserve later in  the trading session.
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Microsoft&#39;s $1.2 billion acquisition bid for Oslo-based Fast Search and Transfer and a dour report on Amazon marked the new year&#39;s first full trading week in the United States, as technology company share prices continued to slide.The increase in tech share prices that occurred in 2007 -- a banner year for IT company earnings -- appears to be in danger of evaporating, as fears of a general downturn and bad news on the consumer front resound among industry insiders. U.S. Federal Reserve Chief Ben Bernanke&#39;s announcement on Thursday that he would move to cut interest rates to spur growth provided only a temporary halt to a decline in the Nasdaq Composite Index, which closed Friday at 2,440, down 212 points from its close at the end of 2007.This week, investment banking firm Goldman Sachs forecast that the United States will suffer a recession this year. Company analyst David Kostin reduced his recommendation for the amount of technology stocks that investors should keep in their portfolios, from 19 percent to 15 percent.Investors usually like to keep a good percentage of their holdings in tech stocks to hedge their bets. IT companies are truly global, with major U.S. vendors earning about 50 percent of their revenue outside their home countries.But inside the United States, tech companies are getting hit with a double whammy: a predicted weakening of consumer spending because of falling home prices and a resulting crisis in financial markets. Up to 18 percent of U.S. and global tech spending comes from financial companies, according to Forrester Research.Turmoil in the financial markets will likely dampen tech buyouts from private equity investors, according to the 451 Group&#39;s Tech Banking Outlook Survey, released this week. But that might not stop cash-rich technology companies from continuing to shop for deals, it noted.On Tuesday,&#160;Microsoft announced that it would buy enterprise search software company Fast Search And Transfer&#160;for 6.6 billion Norwegian kroner ($1.2 billion). Microsoft said it will integrate Fast Search&#39;s high-end search technologies into its enterprise infrastructure offerings, including SharePoint Server 2007 business productivity platform.Microsoft is locked in a search battle with Google, not just for general Web searches but also for businesses. Fast Search shares got an immediate boost on the Oslo exchange, where its price jumped from 13.35 kroner to close at 18.80 kroner Tuesday. The deal did not keep Microsoft shares from sliding in a generally down market for tech, however.On the consumer side, investors were particularly spooked by comments on Tuesday from AT&amp;T CEO Randall Stephenson, who said the company has had to stop servicing an increasing number of customers who did not pay their bills. The company closed Tuesday at $39.07, down by $1.96 for the day.The news did not bode well for other technology companies that sell to consumers. Citing uncertainty about U.S. consumer spending, American Technology Research Monday put a &quot;sell&quot; rating on Amazon, which then on Tuesday fell by $2.66 to close at $85.22 on the Nasdaq.Even companies that received positive reports from analysts this week were slammed by the general market slide. Lazard Capital Markets started its coverage of virtualization-software darling VMware, which had a successful IPO last month, by issuing a &quot;buy&quot; rating on Tuesday. VMware&#39;s share price jumped by $5.39 to close at $79.89 Wednesday, but slid back to $77.53 by the end of the week.
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VoiceCon Spring 2007 -- IBM (NYSE: IBM) and Cisco (NASDAQ: CSCO) today announced their intent to deliver a new platform for unified communications and collaboration client development.
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Investors, already concerned about technology spending after Cisco Systemsâ dreary outlook, winced at gloomy sales reports from the nationâs major retailers.