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Cisco lower for second day in a row; Chambers' comments in focus

Sep. 27, 2013 12:04 PM ETCisco Systems, Inc. (CSCO) StockCSCOBy: Eric Jhonsa, SA News Editor16 Comments
  • Whle the Nasdaq is up 0.6% over the last two days, Cisco (CSCO -1.6%) is down over 4%. John Chambers' macro commentary seems to be playing a role.
  • In addition to making subdued comments about emerging markets demand to CNBC, Chambers told Barron's Cisco is seeing "mixed data" from many regions, and that "this is the first time in [his] career" he doesn't have a strong opinion on the direction macro trends will go.
  • Chambers: "You might see a quarter or two of GDP that's tougher than people expect ... CEOs and hiring and capex and everything may pause."
  • Also: Chambers says he's open to further dividend hikes (previous). "If shareholders were to say instead of buying the stock, I'd like you to put more into the dividend, I'm open to that." Cisco's yield is currently at 2.9%; the company spent $1.2B on buybacks in the July quarter.

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