Cisco Buys Out Data Center Startup Insieme and 2 Other Hot Stocks To Watch
Cisco Systems Inc. (NASDAQ:CSCO): Current price $23.25
On Wednesday, Cisco announced that it will acquire the rest of its majority-owned data center tech start-up Insieme at a maximum amount of $863 million, to guard its core business from new competitors. The buyer already owns 85 percent of Insieme, and unwrapped the start-up’s first products, which represent Cisco’s answer to software defined networking tech, a big trend among its competitors in developing software with features found in high-end network hardware. Insieme was launched early last year with a $100 million investment from Cisco, followed by $35 million in November 2012. The start-up is managed by the longtime Cisco engineers Prem Jain, Mario Mazzola, and Luca Cafiero, and now marks the third start-up they have created to be folded back into Cisco.
Sirius XM Radio Inc. (NASDAQ:SIRI): Current price $3.66
Sirius XM and Chrysler Group LLC said Wednesday that all Chrysler, Jeep, Dodge, Ram, SRT, Fiat, and Mopar customers will receive a one-year SiriusXM subscription when they buy any 2014 model year vehicle furnished with a satellite radio-equipped Uconnect System. The one-year SiriusXM subscription includes every premium channel available on their satellite radio, together with access to SiriusXM Internet Radio. Customers will also gain access to SiriusXM Internet Radio outside of the vehicle, permitting them to listen at home, in the office, or elsewhere on Apple iPad, iPhone, iPod touch, and Android smartphones and other connected devices, as well as online at siriusxm.com.
SunEdison Inc. (NYSE:SUNE): Current price $11.10
SunEdison has cut the full-year sales forecast for its solar systems and semiconductor material businesses, after weak prices caused the firm a third-quarter loss. The company, which also manufactures semiconductor wafers, is centering upon its high-margin solar power unit to develop solar farms. SunEdison now anticipates revenue between $920 million and $930 million from the business, which is sharply down from its previous projection of $940 million to $980 million.
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