NEW YORK, Feb 8 (Reuters) – Juniper Networks Inc <JNPR.N>
will begin selling new wireless products for mobile carriers,
responding to bigger rival Cisco Systems Inc’s <CSCO.O> recent
acquisition of a wireless technology firm.
Juniper said on Monday its new software includes Juniper
Traffic Direct which, used together with its MX 3D routers, can
help mobile carriers reduce network congestion and
NEW YORK (Reuters) – Cisco Systems Inc’s quarterly results and outlook exceeded Wall Street expectations as more customers upgraded their networks to handle growing Internet traffic, leading CEO John Chambers to declare a very strong recovery.
Shares in the leading network equipment maker rose 4 percent as the company forecast revenue growth of 23 percent to 26 percent in the current quarter, far exceeding the average analyst forecast for a rise of 16.5 percent.
NEW YORK (Reuters) – Cisco Systems Inc’s results and outlook soared past expectations and Chief Executive John Chambers said business has improved dramatically in nearly all areas.
The leading maker of network equipment, whose shares rose 4 percent, expects to hire 2,000 to 3,000 people in the next several quarters, Chambers said in another sign of his confidence in the economic recovery.
NEW YORK (Reuters) – Lexmark International Inc <LXK.N> reported a higher-than-expected rise in quarterly profit, helped by cost-cuts and improving demand for printers and ink, lifting the shares over 11 percent.
Lexmark, which competes with Hewlett-Packard Co <HPQ.N>, Canon Inc <7751.T> and Samsung Electronics Co Ltd <005930.KS>, said customers began spending more in the fourth quarter.
NEW YORK (Reuters) – Cisco Systems Inc <CSCO.O> is expected to post its first quarterly revenue growth in more than a year when it reports results, as customers more confident about the economy upgrade their networks.
While stronger-than-expected results could provide a jolt to the stock, which has languished for the past three months, investors will also focus on longer-term issues like new rivals Hewlett-Packard Co <HPQ.N>, International Business Machines Corp <IBM.N> and China’s Huawei Technologies Co <HWT.UL>.
NEW YORK, Jan 28 (Reuters) – Network equipment maker
Juniper Networks <JNPR.N> reported surprisingly strong
quarterly results, as customers like AT&T Inc <T.N> boosted
infrastructure spending after a year of budget cuts.
Juniper also forecast further improvement throughout 2010
and gave an outlook for the current quarter that was on the
stronger side of analysts’ forecasts.
NEW YORK, Jan 26 (Reuters) – Tellabs Inc <TLAB.O> shares
jumped 13 percent on Tuesday after it reported a strong profit
margin and gave an upbeat outlook for first-quarter sales,
easing concerns about weak technology spending.
Tellabs, a supplier to major phone companies like AT&T Inc
<T.N>, Verizon Communications Inc <VZ.N> and Sprint Nextel Corp
<S.N>, forecast first-quarter revenue of $370 million, plus or
minus 2 percent.
NEW YORK (Reuters) – IBM raised its 2010 profit target and reported a stronger-than-expected, 9 percent increase in fourth-quarter earnings, as cost cuts and a shift to more profitable contracts helped it weather a slump in corporate spending.
IBM’s share price fell 2 percent after the results, however, as the results failed to encourage more buying in the shares which already rallied nearly 60 percent in the past year.
NEW YORK, Jan 19 (Reuters) – IBM <IBM.N> raised its 2010
profit target and reported a stronger-than-expected 9 percent
increase in fourth-quarter earnings, as cost cuts and a shift
to more profitable contracts helped it weather a slump in
corporate spending. IBM's share price fell 2 percent after the results, however, making clear that investors wanted even more from a company whose stock had rallied nearly 60 percent in the past year. Moreover, IBM has set a high bar for itself -- the world's leading technology services company has not missed earnings estimates since 2005. "I think there were some pretty big expectations built in, and you really needed to wow it," Stephen Massocca, managing director at Wedbush Morgan, said after the results were issued on Tuesday. Ted Parrish, co-portfolio manager at Henssler Equity Fund, added: "While I think the long-term prospects for the company are good, I think the shares are a bit frothy, not overvalued but I would say the stock isn't going to do as well as it did in 2009." International Business Machines Corp's results come just days after another technology powerhouse, Intel Corp <INTC.O>, also posted results that topped expectations. And while IBM's results failed to excite investors, they do add to evidence that corporate technology spending is recovering. The also indicate that IBM's efforts to cut costs and accelerate its shift to services and software businesses that offer higher margins are paying dividends. The company said it now expects profit of at least $11 a share in 2010 compared with its previous target of $10 to $11 per share. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ For a graphic on IBM's earnings, please click here ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ "IBM is just a machine. Throughout the downturn, they have provided consistent results and this is no different," said Andy Miedler, an analyst with Edward Jones. IBM's fourth-quarter profit rose 9 percent to $4.8 billion, or $3.59 a share, from $4.4 billion, or $3.27 a share, a year earlier. Analysts on average had expected a profit of $3.47 per share, according to Thomson Reuters I/B/E/S. Total gross profit margin rose to 48.3 percent, up 0.4 points, in the quarter. Quarterly revenue rose 1 percent to $27.2 billion, surpassing estimates. IBM also forecast more revenue growth in the first quarter. "The unique portfolio of businesses we built, heavily weighted toward software and services, generates high profitability," Chief Financial Officer Mark Loughridge said on a conference call. Services contracts totaled $18.8 billion in the fourth quarter, an increase of 9 percent, including 22 contracts worth more than $100 million. Service contract signings are an indicator of long-term sales. "There is far more for the global economy to go and there is a significant amount of acceleration that is going on in the global economy, and IBM will be a beneficiary of that," said Peter Misek, an analyst with Canaccord Adams. Shares of IBM fell 2 percent, after ending regular trading at $134.14, up $2.36, on the New York Stock Exchange. (Additional reporting by Jim Finkle in Boston; Editing by Paul Thomasch and Richard Chang)
NEW YORK (Reuters) – IBM’s quarterly results should show a solid recovery in technology spending, but investors will likely want reassurance of stronger growth in 2010 before pushing its stock price much higher.
Shares of International Business Machines Corp have risen almost 60 percent in the past year as the company sidestepped the worst of the downturn by cutting costs and shifting its business mix to more profitable services and software.