Cisco Aims New Router-Based System at Rivals and 2 More Heavily Traded Stocks to Follow
Cisco Systems Inc. (NASDAQ:CSCO): Current price $24.16
The computer network gear manufacturer on Tuesday was poised to introduce a router-based system created to help telecom, cable, and other service suppliers better oversee the massive growth of data transmitted by means of the Internet, including data sent by machines. Cisco intends that its new Network Convergence System, a hardware-software system, will provide it with an edge over competitors Juniper Networks, Alacatel Lucent, and Huawei Technology. The system was created to aid service provider customers who want quicker ways to handle growing data traffic as the Internet becomes the central hub of consumer, enterprise, and machine data.
EMC Corp. (NYSE:EMC): Current price $25.98
On Tuesday morning, EMC was downgraded to Neutral at Barclays Capital. Analyst Ben Reitzes wrote in a note to clients that both vendors of high-end corporate data-storage solutions are approaching his price targets, elaborating, “With new products and capital return announcements largely behind both companies, we see fewer incremental catalysts over the next several quarters to warrant significant multiple expansion beyond current levels.”
Cypress Semiconductor Corp. (NASDAQ:CY): Current price $9.60
Cypress reduced its revenue and profit guidance for the third quarter on Tuesday, blaming weaker-than-anticipated revenue from Asia. Shares are down by nearly 17 percent in afternoon trading. The firm now expects to lose between 9 cents to 11 cents per share for the present quarter, predicting an adjusted profit of 10 cents to 12 cents per share. Revenue is forecast to come in at between $184 million to $187 million. In July, Cypress said it expected revenue to surpass the $193.5 million it had booked in the second quarter.