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May 12, 2010

IBM aims to double profit; brightens tech outlook

NEW YORK, May 12 (Reuters) – IBM forecast roughly doubling
its profit by 2015 as it pushes further into emerging markets
and lucrative services and software businesses, sending its
shares up over 4 percent and boosting investor confidence in
the tech sector.

International Business Machines Corp <IBM.N> Chief
Executive Sam Palmisano told an annual investor briefing on
Wednesday that the company expects earnings per share (EPS),
excluding items, of “at least $20″ for 2015.

May 7, 2010

Cisco results seen strong but Europe worries abound

NEW YORK, May 7 (Reuters) – Cisco Systems Inc <CSCO.O> is
expected to report a 25 percent rise in quarterly revenue and
give an upbeat outlook next week but worries of troubles in
Europe may prevent the shares from rallying much.

The results are likely to show a recovering U.S. economy
and increasing Internet traffic encouraging companies to buy
more network equipment from Cisco. But analysts said jitters
about Europe’s economy will weigh on investor sentiment.

May 3, 2010

Brocade’s new exec sees no pressing need for M&A

NEW YORK (Reuters) – Brocade Communications Systems Inc’s <BRCD.O> new executive sees no pressing need for the network equipment maker to be acquired, despite the market’s speculation it wanted to be bought.

John McHugh was hired in March as chief marketing officer in charge of global marketing and strategic alliances and analysts have cited his M&A experience as an asset for the company in a possible sale to a big technology vendor.

Apr 28, 2010

Akamai outlook beats forecasts, eases pricing fears

NEW YORK, April 28 (Reuters) – Akamai Technologies Inc
<AKAM.O> posted quarterly results and an outlook that beat
expectations as more businesses sought its help in delivering
online entertainment, soothing concerns about growing price
competition.

The Internet content delivery company, which specializes in
navigating less-congested routes over the Web for online video
and shopping services, said on Wednesday its first-quarter
sales rose 14 percent from a year earlier to $240 million.

Apr 27, 2010

Tellabs beats forecasts as telco demand improves

NEW YORK, April 27 (Reuters) – Tellabs Inc’s <TLAB.O>
results and sales outlook beat expectations as phone companies
bought more network equipment to handle increasing wireless
Internet traffic, sending the stock up more than 10 percent.

Chief Executive Rob Pullen said phone companies were
spending more on their wireless networks, although they were
keeping overall budgets for 2010 unchanged by cutting back on
wireline upgrades. That reflects the popularity of smartphones
and vindicates Tellabs’ focus on wireless networks, he said.

Apr 21, 2010

IPhone lifts AT&T, but exclusivity a question

NEW YORK (Reuters) – AT&T Inc’s <T.N earnings beat expectations on the back of strong iPhone sales, but questions over how much longer it would remain the exclusive U.S. carrier for Apple Inc <AAPL.O> dampened investor enthusiasm.

AT&T activated 2.7 million iPhones in the first quarter, with one third of those for customers new to the carrier. It added 1.9 million wireless subscribers overall, bringing its total to 87 million.

Apr 20, 2010

Juniper beats estimates but shares fall

NEW YORK (Reuters) – Juniper Networks Inc’s <JNPR.N> outlook disappointed investors expecting a stronger confirmation of a tech recovery and its shares dropped 7.5 percent after-hours on Tuesday despite strong quarterly results.

Juniper, which competes with network equipment leader Cisco Systems Inc <CSCO.O> in selling routers and switches that help direct Internet traffic, forecast second-quarter revenue of $950 million, plus or minus $20 million, compared with an average Street forecast of $945 million.

Apr 19, 2010

IBM raises outlook modestly, results beat

NEW YORK (Reuters) – IBM <IBM.N> nudged up its full-year outlook and reported stronger-than-expected quarterly results, as companies increased spending on software and IT consulting, adding to hopes of a sustained recovery for the technology sector.

Shares of International Business Machines Corp, however, fell 2 percent in after-hours trade, with some analysts pointing to profit taking after recent gains, while others said the company’s gross margin was slightly below expectations.

Apr 15, 2010

Cisco takes aim at China despite trade tensions

NEW YORK (Reuters) – Cisco Systems Inc <CSCO.O> is poised to step up investment and acquisitions in China regardless of trade frictions between Beijing and Washington, aiming to secure its place in a tricky but pivotal market.

Already the world’s largest Internet and mobile phone market, China is likely to become even more crucial to the network equipment maker’s growth as the country’s burgeoning middle class gains access to new technology.

Mar 29, 2010

Cisco wins TelePresence deal; Tandberg deal OKed

NEW YORK/BRUSSELS (Reuters) – Cisco Systems Inc claimed two major victories on Monday to secure its position as the world’s top videoconferencing provider: a big sales contract for its high-end video system and regulatory approvals for its acquisition of Norway’s Tandberg.

Cisco <CSCO.O> said it won a multi-year deal to supply TelePresence systems to Bank of America <BAC.N>, reflecting the growing popularity of advanced, video communications systems.