44.05 +0.34 (0.78%)
Pre-Market: 8:27AM EDT
|Bid||43.64 x 100|
|Ask||44.07 x 100|
|Day's Range||42.75 - 43.99|
|52 Week Range||30.36 - 46.16|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 16, 2018|
|Forward Dividend & Yield||1.32 (3.05%)|
|1y Target Est||48.85|
As I covered in my Microsoft Teams analysis here, chat-based tools are all the rage right now in business productivity, collaboration and “future of work” conversations. A lot of them have popped up in the last several years—Cisco Systems Spark, Facebook for Work, Flock, Google Hangouts Chat, Slack, and Microsoft Teams, to name the players so far. Last week, it was Cisco Systems’ turn at the plate to take a swing.
Shares of Mitel (MITL), the Ottawa, Canada-based vendor of what’s known as “unified communications,” are up 99 cents, or 10%, at $11.15, after the company this morning announced it agreed to be bought out by a private-equity shop, the latest sign the market for changing the way companies' do phone calling is heating up. Mitel announced it will be bought out by an investor group led by affiliates of Searchlight Capital for $2 billion, or $11.15 per share in cash. The price is above Mitel’s 52-week and three-year high price, it pointed out.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) have been on an impressive rebound as of late. While Cisco stock came down with the rest of the market in both February and April, it’s been an out-performer on the way up. Over the last ten calendar days, Cisco stock is up more than 9%, compared to the 3.6% and 5.25% respective gains for the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) and the PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ).
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SAN JOSE, Calif., April 24, 2018 (GLOBE NEWSWIRE) -- Cisco announced that it is collaborating with Orange on the modernization and expansion of Orange`s Open Transit Internet (OTI) service. This initiative ...
Cisco announced that it is collaborating with Orange on the modernization and expansion of Orange’s Open Transit Internet (OTI) service. This initiative offers Orange Group the chance to expand its network in Europe, Africa, and the Middle East, with reduced operational complexity and increased capacity using the new generation of routers on its OTI service. The resulting increase in network efficiency will improve service for Orange customers and manage the exponential increase in Internet traffic across the network.
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Ericsson (ERIC) posted improved losses in the first quarter of 2018, driven by company’s cost-cutting efforts. During the quarter, the company laid off 3,000 workers. Employee reduction is part of the company’s cost-cutting program. Ericsson has been cutting down its workforce since July 2017. It has reduced its employees by almost 18,000.
On Friday, Ericsson (ERIC) stock surged more than 17% after the telecom equipment maker posted profits for the first quarter of 2018. Ericsson closed the day up $1.14 at $7.78 on the company’s better-than-expected earnings in 1Q18. The company noted that its turnaround strategy has been bearing fruit, which is helping to reduce losses and boosting investors’ confidence, as is reflected in the stock price.
After a spell of high volatility driven by uncertainty over global trade policy and the threat of rise in prices of essential commodities, Wall Street is looking for some respite in the upcoming earnings season. Given the positive trend, investing in blue-chip stocks that are likely to make the most of the earnings season seems judicious. This is because such stocks are positioned to report impressive earnings results as they mostly have a strong balance sheet and solid cash flow.