Bureau Chief, Helsinki
Ritsuko's Feed
Nov 18, 2010

Cisco CEO apologizes to shareholders

NEW YORK, Nov 18 (Reuters) – Cisco Systems Inc (CSCO.O: Quote, Profile, Research, Stock Buzz)
Chief Executive John Chambers repeatedly apologized to
shareholders on Thursday for a weak sales outlook last week
that sparked a sell-off in the company’s shares.

He also said the network equipment maker was unlikely to
lose market share in its core business of routing and
switching, although he noted strong competition and named
Huawei Technologies Co Ltd [HWT.UL] as its biggest rival.

Nov 15, 2010

EMC to buy data storage firm Isilon for $2.25 billion

BOSTON/NEW YORK (Reuters) – EMC Corp (EMC.N: Quote, Profile, Research, Stock Buzz), the biggest maker of corporate data storage equipment, plans to buy smaller rival Isilon Systems Inc (ISLN.O: Quote, Profile, Research, Stock Buzz) for $2.25 billion as consolidation in the technology sector gains steam.

Large, cash-rich technology companies like EMC are buying up smaller rivals as they position themselves for an economic recovery.

Nov 11, 2010

Gov’t deals, once boon for Cisco, now a problem

NEW YORK (Reuters) – Cisco Systems Inc’s reliance on government spending for a big piece of its business was seen as a good thing — until governments stopped spending.

Now, a sudden crunch in spending by debt-burdened European nations and U.S. state and local governments is partly to blame for a bleak forecast that rocked global markets.

Nov 11, 2010

Analysis: Government deals, once boon for Cisco, now a problem

NEW YORK (Reuters) – Cisco Systems Inc’s (CSCO.O: Quote, Profile, Research, Stock Buzz) reliance on government spending for a big piece of its business was seen as a good thing — until governments stopped spending.

Now, a sudden crunch in spending by debt-burdened European nations and U.S. state and local governments is partly to blame for a bleak forecast that rocked global markets.

Nov 11, 2010

Cisco’s dismal outlook stuns Street

NEW YORK (Reuters) – Cisco Systems Inc (CSCO.O: Quote, Profile, Research) gave a dismal revenue outlook, stunning investors who had hoped for proof of a recovery in technology spending, and sending major tech stocks falling.

Forecasts for quarterly and yearly revenue fell far short of Wall Street’s expectations, a big disappointment for a company known for solid management and seen as a top beneficiary of the surge in global wireless and Internet traffic. Cisco shares tumbled 13 percent after-hours.

Nov 11, 2010

Cisco’s dismal outlook stuns Street, hits sector

NEW YORK, Nov 10 (Reuters) – Cisco Systems Inc (CSCO.O: Quote, Profile, Research, Stock Buzz)
gave a dismal revenue outlook, stunning investors who had hoped
for proof of a recovery in technology spending and sending
major tech stocks tumbling.

Forecasts for quarterly and yearly revenue fell far short
of Wall Street’s expectations, a big disappointment for a
company known for solid management and seen as a top
beneficiary of the surge in global wireless and Internet
traffic. Cisco shares tumbled over 14 percent.

Nov 11, 2010

Cisco’s outlook disappoints, tech shares wane

NEW YORK (Reuters) – Top network equipment maker Cisco Systems Inc (CSCO.O: Quote, Profile, Research, Stock Buzz) gave a dismal revenue outlook, stunning investors who had hoped to see proof of a recovery in technology spending, and sending major tech stocks tumbling after-hours on Wednesday.

Forecasts for quarterly and yearly revenue fell far short of Wall Street’s expectations, a big disappointment for a company known for solid management and seen as a top beneficiary of the surge in global wireless and Internet traffic.

Nov 10, 2010

Cisco revenue jumps but some on Street want more

NEW YORK (Reuters) – Cisco Systems Inc (CSCO.O: Quote, Profile, Research, Stock Buzz) served up a 19 percent jump in quarterly revenue as a revived economy encouraged more spending on networks to route Internet traffic, but some investors had hoped for stronger proof of a technology sector recovery.

Shares of the company, which have gained 23 percent since hitting a year’s low at the end of August, slid 4 percent in after-hours trade.

Nov 9, 2010

Netflix talks hit Akamai, rivals benefit

NEW YORK, Nov 9 (Reuters) – Akamai Technologies Inc
(AKAM.O: Quote, Profile, Research, Stock Buzz) and Netflix Inc (NFLX.O: Quote, Profile, Research, Stock Buzz) are re-negotiating their
relationship, with Akamai at risk of losing its status as the
online video retail company’s primary content delivery
provider, sources familiar with the talks said on Tuesday.

Fears that Akamai would lose business from one of its most
important clients sent its shares down more than 4 percent,
while stocks in rivals Limelight (LLNW.O: Quote, Profile, Research, Stock Buzz) and Level 3 (LVLT.O: Quote, Profile, Research, Stock Buzz)
rose about 20 percent.

Nov 5, 2010

Cisco CEO comments key to igniting stock gains

NEW YORK (Reuters) – Investors will focus on whether Cisco Systems Inc (CSCO.O: Quote, Profile, Research, Stock Buzz) Chief Executive John Chambers, who spooked Wall Street last quarter with unusually cautious comments about the technology business, will regain some of his usual cheer when Cisco reports earnings next week.

The network equipment giant and sector bellwether is expected to deliver a strong set of results and an upbeat outlook. That, and a vote of confidence from Chambers, could boost its shares, which have languished in the past three months. A positive outlook could also raise hopes for a stronger recovery ahead in the overall technology sector.