Cisco Systems, Inc. Nasdaq:CSCO Update
Shayne Heffernan of Ebeling Heffernan has issued a strong buy on Cisco Systems, Inc. Nasdaq:CSCO with a price target of $32 in 2011.
Markets over reacted to Cisco Systems, Inc. news, that day shares declined $3.97, or 16 percent, to $20.52.
Cisco Systems, Inc. tumbled after its profit and sales forecast fell short of analysts’ estimates because of increased competition and lower government spending. The drop wiped out all of Cisco’s gains since Sept. 2.
But, not everyone was a seller, late in the day the options market for Cisco came to life, Cisco options traded 19 times the monthly average as traders rushed to buy Cisco.
There is little doubt that the world’s largest computer networking-equipment maker will rebound, yesterdays over reaction was the biggest drop since July 1994.
In The News
Cisco Systems, Inc. Plans Combined TV, Web Video Set Top Box-WSJ
Tuesday, 4 Jan 2011 08:35pm EST
Wall Street Journal reported that Cisco Systems, Inc. plans to unveil a television set-top box that combines elements of Web video services with live, on-demand and recorded TV. Citing unnamed people familiar with the matter, the Journal said on Tuesday that Cisco would sell the hybrid boxes to cable operators, helping them to fight off competitors offering online video services.
Cisco Systems, Inc., incorporated in December 1984, designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.
The Company provides a line of products for transporting data, voice, and video within buildings, across campuses, and around the world. Its products are designed to transform how people connect, communicate, and collaborate. Its products are installed at enterprise businesses, public institutions, telecommunications companies, commercial businesses, and personal residences.
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