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Stock Market & Financial Investment News

News Breaks
January 14, 2013
16:08 EDTCSCO, GSITGSI Technology raises Q3 revenue view to $17.5M from $15M-$16M
Consensus $15.5M. GSI also reported that Q3 direct and indirect sales to its largest customer, Cisco Systems (CSCO), are expected to be approximately $6.5M, compared to $4.9M in the previous quarter. In addition, shipments to military customers were up significantly compared to the prior quarter. The company cautioned that these results are preliminary and subject to change and expects to release its Q3 financial results after the market close on Thursday, January 31.
News For GSIT;CSCO From The Last 14 Days
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November 26, 2014
07:23 EDTCSCOCisco management to meet with UBS
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November 25, 2014
16:18 EDTCSCOInfoblox names Jesper Andersen as CEO
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07:00 EDTCSCOCisco management to meet with UBS
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November 24, 2014
08:31 EDTCSCORambus licenseces security technologies to Cisco
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07:43 EDTCSCOCisco margins can remain around current level, says RBC Capital
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November 20, 2014
13:28 EDTCSCOCisco CEO says not interested in large deals, breaking up company
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06:07 EDTCSCOSpherix comments on pending settlement between Cisco, Rockstar Consortium
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November 19, 2014
07:40 EDTCSCOUBS to hold a conference
Global Technology Conference to be held in Sausalito, California on November 18-20 with webcasted company presentations to begin on November 19 at 10:45 am; not all company presentations may be webcasted.Webcast Link
November 14, 2014
09:07 EDTGSITGigOptix withdraws propsoal to acquire GSI Technology
GigOptix (GIG) announced that it had withdrawn its previous offer to acquire all of the shares of GSI Technology (GSIT) for per share consideration of $6.50, consisting of (i) $2.00 per share in cash, (ii) GigOptix common stock worth $1.33 based upon the volume-weighted average price of GigOptix’ common stock for the three trading days ending one day prior to the closing of the combination and (iii) a special dividend of $3.17 per share in cash payable by GSI Technology. Dr. Avi Katz, Chairman and CEO of GigOptix, Inc., stated “We were disappointed that, despite the fact that our offer was in an amount equal in value per share to the price paid by GSI Technology in its recently completed Dutch auction tender offer, was at a substantial premium to GSI Technology’s share price, offered, as we believe, a meaningful path to resolve the expensive litigations of GSI Technology, and represented, in our opinion, a compelling opportunity for its stockholders altogether – a number of whom tendered shares in the Dutch auction tender offer that were not repurchased - our offer was dismissed without giving us the opportunity to discuss its merits directly with their Board of Directors. Given the implementation by the GSI Technology Board of Directors, subsequent to our proposal, of an executive retention and severance plan which would result in members of the management of GSI Technology potentially receiving substantial cash payments in the event of an acquisition, and the continued reluctance of GSI Technology’s Board of Directors to engage in substantive discussions with us despite GSI Technology’s continued lackluster performance in the most recent quarter and public statements and what we believe is other outreach to GSI Technology by some of their stockholders following their most recent earnings announcement encouraging such engagement, we have now formally withdrawn our proposal to acquire all of the shares of GSI Technology.” “It has been our sincere hope that we would be able to explore together a friendly combination of our two companies that would provide premium value to GSI Technology’s stockholders and benefit its customers, representatives and associates around the world,” said Dr. Katz. “While we have continued to wait patiently, GSI Technology’s Board of Directors has had almost three months to consider whether to engage in discussions and permit us to conduct due diligence. We have not asked the GSI Technology Board of Directors to accept our proposed purchase price or to agree to sell GSI Technology, but only to sit down and discuss whether there might be a common basis for pursuing a transaction that we believe would be beneficial to all parties, including the stockholders of both companies. We are surprised by the unwillingness of the GSI Technology Board of Directors to do so. If in the future we are asked by GSI Technology or by its major stockholders to engage in discussions with GSI Technology, we will consider any changed circumstances involving GSI Technology, operational or economic, in determining whether to so engage, and on what terms we would be willing to do so.”
09:06 EDTGSITGigOptix withdraws propsoal to acquire GSI Technology
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November 13, 2014
08:08 EDTCSCOCisco, Toshiba announce collaboration for Internet of Things
Toshiba (TOSBF) and Cisco (CSCO) announced that they are collaborating on new ways to utilize the Internet of Everything that can dramatically improve processes, productivity and experiences in manufacturing, transportation and city environments. Representatives from Toshiba and Cisco signed a Memorandum of Understanding, or MoU, this week with the intention to advance the progress of a new Smart Community. This global collaboration brings together the Cisco Fog Computing network environment featuring Cisco's network-wide security solution with the Toshiba Group's endpoint management technology. The joint effort will help monitor and maintain multiple devices, stream computing technology for high-speed information processing collected from devices, and provide storage technology to accumulate information generated with M2M technology.
07:43 EDTCSCOCisco reported healthy Q1 results, says Wells Fargo
Wells Fargo says that Cisco's Q1 margins outperformed expectations, and the firm expects the company's revenue growth to accelerate in Q2. Wells thinks emerging market and carrier spending risk are already priced into the stock, while the company has a number of positive catalysts. It keeps an Outperform rating on the shares.
06:57 EDTCSCOCisco results excellent, says Cantor
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