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February 13, 2013
17:46 EDTCSCOCisco CEO: Tone among business and political leaders is 'cautious optimism'
On Cisco's (CSCO) Q2 earnings conference call, CEO John Chambers noted that in his recent conversations with global business and government leaders, the tone was "cautious optimism." Chambers did not, however, expect that optimism to translate into immediate GDP growth. He said the company's gross margins continue to be very stable, operating margins are strong, and expenses are growing in line with revenue growth. The global recovery in Europe continues to be soft, especially in the southern regions. On a positive note, Chambers said Enterprise and U.S. commercial orders continue to improve, which he thinks is an early indicator of future GDP growth. CFO Frank A. Calderoni said the company continued to see strong growth across all geographic regions, with the U.S. federal business continuing to be the most challenging in terms of market. Some stabilization was seen in Europe, but it was still too early to call it a recovery. Wireless continues to be one of the company's fastest growing businesses, with revenue growth of 27%, the fifth consecutive quarter of record revenue. Overall, management said it was confident with the financial model, believes Cisco is in a position of strength, and remains focused on execution.
News For CSCO From The Last 14 Days
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November 24, 2015
11:33 EDTCSCOBrocade sinks to 52-week low after Q1 outlook trails estimates
Shares of Brocade (BRCD), a supplier of networking equipment, are sinking after the company's outlook for the first quarter trailed analysts' consensus estimates. WHAT'S NEW: Last night, Brocade reported fourth quarter adjusted earnings per share of 26c and revenue of $588.83M, beating analysts' consensus estimates of 24c and $575.1M, respectively. Adjusted gross margin for the quarter was 67.9%, while adjusted operating margin was 25%. SAN product revenue was $325M in Q4, flat year-over-year and up 5% quarter-over-quarter, while Q4 IP Networking product revenue was $170M, up 12% year-over-year and 10% quarter-over-quarter. GUIDANCE: Looking ahead to Q1, Brocade forecast adjusted EPS of 23c-25c and revenue of $550M-$570M, below analysts' consensus estimates of 26c and $582.17M, respectively. The company also sees Q1 adjusted gross margin of 67%-67.5%, adjusted operating margin of 24%-25.5%, adjusted free cash flow of $30M-$50M, operating cash flow of $50M-$70M and capital expenditures of $15M-$20M. Additionally, the company forecast Q1 SAN product revenue flat to up 3% quarter over quarter, "as we typically see stronger buying patterns from our OEM partners in our fiscal Q1." IP Networking revenue is expected down 16% to down 22% q/q, driven by U.S. federal seasonality and lower router sales. The company sees Q1 Global Services revenue down 2% q/q due to a one-time catch-up benefit realized in Q4 of approximately $3M. Brocade noted that at the end of Q4, OEM inventory was approximately 1.3 weeks of supply based on SAN business revenue and the company expects inventory to be between one to two weeks in Q1. ANALYST REACTION: JPMorgan analyst Rod Hall downgraded Brocade to Neutral from Overweight this morning, saying that enterprise IT spending continues to look weak after the company's guidance missed estimates. Hall also cut his price target for shares to $9 from $14. PRICE ACTION: Brocade fell 82c, or about 8%, to $9.27 in late morning trading on more than three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $9.16. Including today's pull back, the shares have lost approximately 20% over the past 12 months. OTHERS TO WATCH: Other networking equipment suppliers include Cisco Systems (CSCO), down 0.6%, Juniper Networks (JNPR), down 0.4%, Extreme Networks (EXTR), down 0.7%, and QLogic (QLGC), down 1.3%.
November 20, 2015
08:04 EDTCSCOCisco announces intent to acquire Acano for $700M in cash, assumed equity awards
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08:03 EDTCSCOCisco announces intent to acquire Acano for $700M in cash, assumed equity awards
06:13 EDTCSCOTechnicolor completes $600M Cisco Connected Devices acquisition
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November 19, 2015
05:54 EDTCSCOCisco implied volatility of 18 at lower end of index mean range
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November 18, 2015
07:59 EDTCSCOUBS to hold a conference
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November 17, 2015
16:01 EDTCSCOOptions Update; November 17, 2015
iPath S&P 500 VIX Short-Term Futures up 1.32 to 21.07. Option volume leaders: GE BAC AAPL FB NFLX SYF WMT CSCO MU SUNE VRX BABA AMZN HD FCX
November 16, 2015
05:26 EDTCSCOEricsson CEO says no talks with Cisco about merger or acquisition
Ericsson (ERIC) has noted the recent speculation in the press and financial markets regarding an interest by Cisco (CSCO) to acquire Ericsson. On November 9, the two companies announced a global business and technology partnership to create the networks of the future. The partnership announcement was supported by multiple agreements that include commitments to network transformation through reference architectures and joint development, systems-based management and control, a broad reseller agreement, and collaboration in key emerging market segments. President, CEO and member of the board, Hans Vestberg says: "We note that there are rumors in the market regarding an acquisition of Ericsson by Cisco possibly spurred by the recent announcement of a partnership between our two companies. The talks leading up to the partnership announcement have been ongoing for a year and there have not been any discussions whatsoever on a merger or an acquisition."

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