Job Cuts Coming As Cisco Trims Costs (NASDAQ:CSCO) (SSUChronicle)
Cisco Systems, Inc. (NASDAQ:CSCO) has announced its intentions to cut 4,000 jobs, or roughly 5 percent of its work force, in the coming months. The cuts are part of the company’s effort to trim costs and reorganize. Executives are claiming that the moves are needed to compete in a “challenging” global economic climate. Cisco is the technology industry’s biggest computer infrastructure equipment maker and sells networking software and services and videoconferencing systems. The cuts are surprising to many, considering that Cisco Systems, Inc. (NASDAQ:CSCO) reported better-than-expected earnings in the fourth quarter of its fiscal year.
Hewlett-Packard Downgraded by Zacks to Neutral (HPQ) (DailyPolitical)
Hewlett-Packard Company (NYSE:HPQ) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Friday, AnalystRatingsNetwork reports. They currently have a $24.00 price objective on the stock. Zacks‘ price objective would suggest a potential upside of 6.57% from the company’s current price. Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “hold” rating on shares of Hewlett-Packard in a research note to investors on Tuesday. Separately, analysts at Sanford C.
IBM Closes CSL International Acquisition for zEnterprise Acceleration (eWeek)
International Business Machines Corp. (NYSE:IBM) announced it has completed the acquisition of CSL International, a provider of virtualization management technology for IBM’s zEnterprise System. IBM initially announced plans to acquire CSL in July, with a definitive agreement to buy the company based in Herzliya Pituach, Israel. Financial terms of the deal were not disclosed. A strategic investment in the System z portfolio, the acquisition deepens the system’s consolidation and cloud capabilities by offering simplified management of the virtualization environment.
Cisco Skips VMware’s NSX Coming-Out Party (NetworkComputing)
At the official launch of NSX at VMworld, executives at the virtualization company touted the company’s partnerships with 20 networking, security and other vendors. HP, Dell Inc. (NASDAQ:DELL), Brocade, Arista and Juniper Networks were among those that unveiled technologies that integrate with NSX at the conference. Cisco Systems, Inc. (NASDAQ:CSCO) was a notable exception from the NSX partner hoopla. Asked about VMware’s relationship with the networking giant during a press Q&A Tuesday, VMware CEO Pat Gelsinger said, “We’ll do everything in our power to build the partnership we have with Cisco.”
Hewlett-Packard Company (NYSE:HPQ) packing a PC punch in India (GDPInsider)
Emerging markets like India have become a magnet for phone and computer companies. Hewlett-Packard Company (NYSE:HPQ) has now expanded its commercial Personal Computer portfolio in the market in India. It has launched a hybrid, touch enabled laptop as well as a business-notebook. In a release, the company said that The HP ProBook 430 and the HP EliteBook Revolve will now be available right across the country. The touch-enabled laptop, EliteBook allows users to share work and it functions as a tablet as well.