"NEW YORK (AP) -- Cisco Systems Inc. shares rose Tuesday after a Goldman Sachs analyst added the company to a list of recommended stocks.Shares of the world's biggest maker of computer networking equipment climbed $2.22, or 13.8 percent, to end at $18.31. In the past year, the stock has traded between $15.90 and $34.24.”To see the full article, go here: http://biz.yahoo.com/ap/081028/cisco_mover.html?.v=2
Cisco plans on buying PostPath for $215M by Q1 2009. PostPath provides email services, calendering, and online collaboration applications. Cisco expects to use these services in its online conferencing platform, WebEx Connect. The acquisition and PostPath's services further intensify the direct competion with Microsoft.
Cisco's profit grew 4.4% and revenue increased 9.9% over a year ago to $10.4B after the company reported that the US Enterprise market was beginning to make a recovery. Chief Executive, John Chambers, expected that the economic uncertainty would last only a few more quarters. Still, Cisco gave a revenue outlook that was below analyst expectations.
Large tech companies like Verizon, Google, Cisco, Telefon AB, and HP are buying important patents so smaller competitors can't buy them and use them against them. Smaller competitors can buy the patents and use it against these companies resulting in a costly lawsuit.
Shares of Cisco fell after the Q3 outlook was below analyst estimates. Cisco is worried about the slowing economy and a slowdown in corporate customers buying high tech gear.
Cisco Systems Inc. and Indian software company Wipro Ltd. agreed Wednesday to develop information technology in an alliance that could fetch $1 billion in new business annually for the two companies.
Microsoft's business division introduced several products that fit into the strategy including Microsoft Office Communications Server 2007, Office Communicator 2007, Microsoft Live Meeting, a service pack update to Microsoft Exchange, and Microsoft RoundTable, which is a $3,000 conferencing phone with a 360-degree camera. The products will directly compete with voice, video, and data systems from other IP telephony providers such as Cisco Systems and Avaya.
A lot went right for Cisco during this span. CEO John Chambers claimed that the global IT economy was the strongest he has ever seen (he's been there pretty much since its IPO in 1990). Strong fundamentals helped boost CSCO's price over these 4.5 months, especially: spectacular growth in online video; infrastructure demand in Asia (see: China's Internet Growth); and continued growth of mobile phone adoption in emerging economies.The company famous for acquisitions also added nearly 1 company a month during this span, particularly in the network software space. Wall Street rewarded the company for these acquisitions, which round out its network hardware offerings that currently comprise the vast majority of its revenues.
Cisco stock declines from $28.36 to $26.29, after a company report revealed that demand for Cisco products had declined from a few key American businesses.
Cisco stock rises from $25.81 to $26.79, after announcing an agreement to buy WebEx Communications for $3.2 billion. WebEx is a leading provider of Internet teleconferencing services.
Cisco stock rises from $27.56 to $28.92, on news that Cisco was purchasing Tivella and IronPort. Tivella is a provider of digital signage software and systems. IronPort is a provider of messaging security appliances.
Edit Metric
