|Here's a repost of some past CSCO comments per briefing.com:|
15-Dec-00 07:20 ET Cisco Systems (CSCO) 50 15/16: Networking leader announces the resignation of executive vice president of Worldwide Operations, Gary Daichendt.
15-Dec-00 15:59 ET Cisco Systems (CSCO) 48 -2 15/16: -- Update -- Hearing that Bloomberg is running a story claiming that Cisco has increased its loss reserve to $275 mln for fiscal 2001; hurting Cisco and the Nasdaq into the close.
18-Dec-00 08:23 ET Cisco Systems (CSCO) 48 11/64: CSFB feels that increase in reserves revealed in company's 10-Q was no big deal. Believes extra reserves in a strong qtr as we head into less-certain environment should be considered appropriately conservative accounting and, in Cisco's case, not a signal that the company experiencing deterioration in demand or customer ability to pay.... CSCO trading at $49 3/8 in pre-market.
18-Dec-00 11:20 ET Cisco Systems (CSCO) 45 3/8 -2 25/32 (-5.7%): -- Update -- Technical -- Testing important support at 45 again (Oct/Nov lows) with momentum negative. If this area is taken out, there is little technical support of interest until the 40/38 area.
20-Dec-00 11:32 ET Cisco Systems (CSCO) 37 3/4 -4: -- Update -- Sources at CSFB telling us they just spoke on Cisco: said that fundamentals are not terrible but fund manager sentiment so negative that sell-off could take the stock to the mid-$20s under a worst case scenario; for the first time in a long time, managers aren't worried about holding cash, which takes away what had been a big supporting factor for CSCO.
10-Jan-0112:54 ET Cisco Systems (CSCO) 34 5/8 -2 1/2 (-6.7%): -- Update -- The comment that investors/traders said to be reacting to is CEO Chambers disclosure that the qtr was more challenging than anticipated. Juniper (JNPR 115 -5/8 -1 9/16) shares continue to trade down in sympathy.
17-Jan-0115:50 ET Cisco Systems (CSCO) 38 3/4 +1/4: Sources at Prudential telling us that its channel checks reveal that Cisco is asking its suppliers to slow shipments, and that the magnitude of this trend suggests that more bad news lies ahead.
18-Jan-01 06:46 ET Cisco Systems (CSCO) 39: Network equipment maker aims for annual sales of $1.0 bln in China this year and hopes it will become the company's number two market in three to five years, CEO John Chambers said on Thursday - Reuters reports.
19-Jan-01 09:31 ET Cisco Systems (CSCO) 43 7/8 +2: JP Morgan believes that Cisco will make its quarter, and while adding that CSCO might reduce revenue guidance, JPM notes that this is probably already in the stock.
29-Jan-01 7:31 ET Cisco Systems (CSCO) 38 3/8: Stock indicated 1 1/4 pt lower in pre-market following cautionary comments issued by CEO Chambers at the World Economic Forum. According to Mr. Chambers, business conditions in January have continued to be challenging for company and its customers.... This morning, Lehman is trimming EPS estimate and price target.
07-Feb-01 12:43 ET Cisco Systems (CSCO) 30 3/4 -5 (-14%): -- Update -- In note out before the open, Salomon Smith Barney predicts that Cisco is within a week of bottoming out for this cycle; firm strongly recommending that investors use weakness to build positions; sees stock hanging in near-term, then rallying as the economic picture improves.... CSCO shares currently trading just off lows of the day (range 32 13/16 to 30 1/4); volume an enormous 150 mln shares.
13-Feb-01 09:50 ET Cisco Systems (CSCO) 30 5/16 +3/4: Briefing.com is hearing that accounting cops CFRA (Center for Financial Reporting and Analysis) put out a report on Cisco today, citing high inventories, rising DSOs, and falling gross margins. They won't win any timeliness awards for this report, however, as these are precisely the factors that hammered CSCO after its earnings report last week.
09-Mar-01 06:51 ET Cisco Systems (CSCO) 22 13/16: Reuters reports that networking equipment company is planning to cut 5% of its workforce in the coming weeks to adjust for a downturn in its business. The newswire cited a source close to the company for the story.
09-Mar-0115:35 ET Cisco Systems (CSCO) 20 21/32 -2 5/32 (-9.5%): -- Update -- Company confirms reduction in workforce; plans to lay off 3000-5000 regular employees through voluntary and involuntary attrition; 2,500 to 3,000 temp and contract workers will be let go... Company to take one-tme charge of $300-$400 mln by Q4 as a result of the reductions.
13-Mar-0108:47 ET Cisco Systems (CSCO) 18 13/16: -- Update -- Hearing from source at the Merrill Lynch Global Communications Conference that CEO Chambers is indicating that there is very low visibility right now and that the correction in spending will last longer than most expect.
14-Mar-01 10:08 ET Cisco Systems (CSCO) 20 3/8 -1: Company denies yesterday's widely circulated report that CEO, John Chambers indicated at the Merrill Lynch Global Communications Conference that Cisco was considering a repurchase program.
14-Mar-01 10:24 ET Cisco Systems (CSCO) 20 15/16 -7/16: -- Update -- CNBC reports that the company is now retracting their statement denying reports that Chambers hinted at a share repurchase. In fact, Chambers did mention a repurchase program at the conference and Cisco is apologizing for denying it.
14-Mar-0111:13 ET Cisco Systems (CSCO) 20 5/8 -3/4: -- Update -- Company issued press release last night claiming that its 12416 core router won an independent test; this is the same test that Juniper (JNPR) was reported to have won on Monday. Both the company that conducted the test, Network Test, and the sponsor, Light Reading, are disputing Cisco's claim and have asked Cisco to correct its statement. They continue to report that the Juniper M160 router won the test and the Cisco 12416 placed second.
23-Mar-01 09:48 ET Cisco Systems (CSCO) 20 1/16 +5/16 (+1.6%): -- Update -- In pre-market call, SG Cowen reduced its Q3 est. for company to $0.06 from $0.11, putting Cowen well below the $0.14 mean. Feels that Q3 could come in below firm's est. if CSCO makes the strategic decision to not pursue higher-risk, vendor-financed opportunities.
26-Mar-01 00:46 ET Cisco Systems (CSCO) 19: In an interview with the Financial Times, CEO, John Chambers, noted that the U.S. economic downturn would continue for a least three quarters and that there were signs of it spreading. Chambers said the company had seen the issues expand to the Asia-Pacific region and that it saw early signs in Europe. Report likely to weigh on the rest of the networking industry.