Cisco Systems Inc's quarterly revenue edged past Wall Street's expectations in a sign that IT spending held up despite warnings of a severe pullback, buoying its shares in extended trading.
Cisco Systems Inc's quarterly results edged past Wall Street's scaled-back expectations as IT spending held up despite fears of a severe pullback, buoying its shares in extended trading.
Cisco Systems Inc's quarterly results edged past Wall Street's scaled-back expectations as IT spending held up despite fears of a severe pullback, buoying its shares in extended trading.
Cisco Systems said earnings beat estimates but revenue pace will stay slow
Apple topped Exxon Mobil as the world's most valuable company on Wednesday, but can the company be able to keep up the momentum if the country's economy continues to slip?
Tech stocks didn't fall as sharply as the overall market.
Tech stocks fell only moderately Wednesday.
Tech stocks gained nearly 5 percent in Tuesday's market rally
Cisco Systems' financial results will indicate if Internet traffic is easing
Tech stocks took a hit, but not as bad as the overall market in Monday's rout.
Wall Street underestimated the effect of cuts in government spending on the networking industry and may have to curtail its expectations again with growing fears of a global economic slowdown.
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Corporations unveiled 66,414 planned job cuts last month, up a sharp 60.3 percent from 41,432 in June.
The pace of growth in the services sector ticked down unexpectedly in July to the lowest level since February 2010, while the number of jobs created by the private sector also slowed, separate reports showed on Wednesday.
Investors punished Juniper Networks (JNPR.N) by selling its shares after the networking equipment maker joined Cisco Systems Inc (CSCO.O) in warning that this year's results will miss Wall Street projections.
Investors punished Juniper Networks by selling its shares after the networking equipment maker joined Cisco Systems Inc in warning that this year's results will miss Wall Street projections.
Troubled networking giant Cisco Systems (Nasdaq: CSCO) said it will slash 6,500 jobs – representing about 9 percent of its workforce, in a bid to save about $1-billion in annual expenses.
Better yet, high-tech firms are adding far more workers than they are letting go.
Such a mass culling of jobs would be one of the largest such corporate layoffs in recent memory.
Networking equipment company Cisco Systems Inc could eliminate as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, Bloomberg said, citing two people familiar with the matter.