Sinead's Feed
Dec 12, 2013

Cisco cuts long-term revenue, earnings target

NEW YORK, Dec 12 (Reuters) – Cisco Systems Inc on
Thursday cut its longer-term earnings and revenue growth targets
due to problems in emerging markets, conservative customer
spending and stalling growth in its core business of network
equipment, the latest in a drumbeat of bleak developments at the
Silicon Valley company.

Its shares were down 2 percent – a seven-month low – after
it cut its three- to five-year revenue growth target to a range
of 3 to 6 percent at its analysts’ meeting. Its previous range
was 5 to 7 percent.

Dec 12, 2013

Cisco CEO Chambers sees US recovery, emerging market challenges

NEW YORK (Reuters) – Cisco Systems Inc Chief Executive John Chambers said on Thursday he was beginning to see the U.S. market recover but cited challenges in emerging market economies such as Russia and Brazil.

While emerging markets were “extremely challenged” right now, he expects them to grow 6 percent to 10 percent when they recover, Chambers said at the company’s financial analyst conference in New York.

Dec 11, 2013

Analysis: Some Cisco investors urge an exit from set-top box unit

NEW YORK (Reuters) – Cisco Systems Inc Chief Executive John Chambers is facing growing pressure from investors to exit its television set-top box business, where revenue has been plummeting and profit margins trail the rest of the company.

The problem is that there are few obvious buyers for the unit – the former Scientific Atlanta that Cisco bought for $6.9 billion in 2005 – so Chambers might have no choice but to close the business, analysts said.

Dec 11, 2013

Some Cisco investors urge an exit from set-top box unit

NEW YORK, Dec 11 (Reuters) – Cisco Systems Inc
Chief Executive John Chambers is facing growing pressure from
investors to exit its television set-top box business, where
revenue has been plummeting and profit margins trail the rest of
the company.

The problem is that there are few obvious buyers for the
unit – the former Scientific Atlanta that Cisco bought for $6.9
billion in 2005 – so Chambers might have no choice but to close
the business, analysts said.

Nov 26, 2013

Take-Two to buy back all of Icahn shares; directors leave

NEW YORK/SAN FRANCISCO (Reuters) – Activist investor Carl Icahn will sell all his shares in Take-Two Interactive Software Inc back to the videogame company, netting a fat return on his investment in the “Grand Theft Auto” publisher.

Three directors nominated by the billionaire have resigned as part of the deal, under which Take-Two will pay $203.5 million in cash or cash equivalents for the 12.02 million shares Icahn owns, or about a 13 percent stake.

Nov 26, 2013
Nov 20, 2013
Nov 20, 2013

Shareholders raise surveillance concerns at AT&T, Verizon

BOSTON/NEW YORK, Nov 20 (Reuters) – Shareholders of telecom
giants AT&T Inc and Verizon Communications Inc are
seeking more details related to their sharing of customer
information with governments, showing investors starting to push
back over the role of communications companies in spying
operations.

Activists including Trillium Asset Management of Boston and
the $161 billion New York State Common Retirement Fund have
filed proposals for the spring shareholder meetings of AT&T and
Verizon, representatives said.

Nov 19, 2013
Nov 19, 2013
    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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