46.62 +0.32 (0.69%)
Pre-Market: 7:40AM EDT
|Bid||46.44 x 4000|
|Ask||46.63 x 800|
|Day's Range||46.23 - 47.28|
|52 Week Range||32.40 - 58.26|
|Beta (5Y Monthly)||0.95|
|PE Ratio (TTM)||18.36|
|Earnings Date||Aug. 12, 2020|
|Forward Dividend & Yield||1.44 (3.01%)|
|Ex-Dividend Date||Apr. 02, 2020|
|1y Target Est||48.43|
(Bloomberg) -- In his quest to expand U.S. mobile broadband capacity, Federal Communications Commission Chairman Ajit Pai hasn’t been afraid to anger colleagues in government.He’s taken on the Pentagon, the National Oceanic and Atmospheric Administration as well as the departments of Transportation and Energy. Those agencies have warned that his plans to reallocate spectrum could endanger national security, harm weather forecasts, loosen control of the electrical grid and degrade vehicle safety.So far, Pai has prevailed.“Pai is willing to get himself on the hot seat,” said Doug Brake, telecom policy director for the Information Technology and Innovation Foundation, a Washington-based policy group that works to accelerate innovation.The fights are worth billions of dollars as industries jockey for rights to airwaves, riding a boom in usage for such things as online shopping, streaming television and social media. Appetite for gadgets and the airwaves on which to run them is only growing: the U.S. will have 1.2 billion mobile connected devices by 2023, up from 560 million in 2018, according to a forecast by Cisco Systems Inc.Pai’s independence may be tested in coming months as President Donald Trump has ordered the FCC to draw up regulations to keep social media companies such as Twitter Inc. from censoring political speech.“This debate is an important one,” Pai said in a statement. “The Federal Communications Commission will carefully review any petition for rulemaking filed by the Department of Commerce.”Pai, whose office didn’t reply to requests for comment, has an insiders’ profile that doesn’t suggest a penchant for inter-agency skirmishing. He is a former FCC commissioner, agency staff lawyer and U.S. Senate aide, and before that an attorney for Verizon Communications Inc. President Donald Trump elevated him three years ago to chairman of the commission, which was created in 1934 to keep radio signals straight and now doing the same with wireless broadband.Pai, 47, presents a whimsical public face for an agency steeped in arcane technical policy making. He spices his remarks with pop-culture references, citing the TV sitcom “The Office” and the film “The Big Lebowski.” His Twitter feed branches from telecom policy into philosophy, architecture and sports teams from Kansas City, not far from his childhood home in Parsons, Kansas.As chairman, he has made priorities of pruning regulations and pushing for more mobile broadband to feed the nation’s insatiable appetite. With backing from the agency’s Republican majority, he’s compiled a series of victories for the wireless industry -- and at times setbacks for older uses of airwaves.NOAA, for example, said the FCC’s push to reallocate some spectrum would set back satellite-assisted weather forecasting decades. The Transportation Department warned about road safety when a patch of airwaves set aside for driverless cars was reassigned. The Energy Department opposed taking spectrum used by the power companies.Perhaps most memorably, the Defense Department raised alarms about the FCC’s April 20 approval of a mobile broadband network, saying the service will interfere with military and civilian GPS.Wins and losses are closely linked in airwaves policy because of the nature of spectrum -- the invisible electromagnetic waves that carry communications. Each slice of airwaves can carry one use; a second use on the same frequencies threatens interference, just as a shouted conversation in a room can drown out a quiet chat.To avoid conflicts, regulators including the FCC put different services on separate airwaves. Antennas listen for the chatter on their assigned channels, and don’t pick up signals at higher and lower frequencies, which in turn are left to other users.Assignments, including some set decades ago, have come under question as the mobile broadband revolution deepens, bringing fresh demand for airwaves to handle booming wireless traffic. Old services are being forced to move to different airwaves or share their frequencies with new arrivals.Pai’s FCC has worked to set up frequencies for more Wi-Fi and the high-speed gadgetry that will combine to form the 5G revolution of fast, ubiquitous wireless connections -- a priority for the White House and big tech and telephone companies. The changeover promises such wonders as remote surgery, autonomous cars, rich virtual reality video feeds, and factories humming with connected equipment.Pai takes credit for rearranging a dozen swaths of spectrum. The amount of airwaves affected is more those used by all U.S. mobile broadband providers, Pai said in a video posted on the agency website last year.Friction is inevitable as broadband and other wireless technologies vie for space in the crowded tableau of airwaves swaths, known as bands.“Finding new bands or new opportunities to reallocate for new purposes is more difficult than ever before,” said FCC Commissioner Michael O’Rielly, a Republican. “There’s no greenfields to pick from. And so finding new spectrum for a new purpose means reallocating someone who already exists there.”To others, the FCC’s airwaves fights show lax management by the Trump administration, leaving cabinet officers to push their own airwaves priorities.“This is a result of running the administration as if it were an episode of ‘The Apprentice,’” said Harold Feld, senior vice president with the policy group Public Knowledge. “The federal agencies have just stopped cooperating.”Space Force Commander General John Raymond said in a May 6 congressional hearing that Ligado Networks LLC’s plans for a mobile broadband network would interfere with GPS receivers, which rely on faint signals from satellites, and harm training.The FCC shot back that it wouldn’t be moved by “baseless fear mongering.”In a May 26 letter to Representative Adam Smith, chairman of the Armed Services Committee, Pai defended the Ligado decision, saying it “included strict conditions to ensure that GPS operations continue to be protected from harmful interference.”In a teleconference with lawmakers on May 19, Pai said “America needs to lead in 5G and that requires us to think creatively about a variety of different spectrum bands.”Changes keep coming. The FCC in April voted to allow Wi-Fi on the 6 gigahertz airwaves, despite an expression of concern from the Energy Department. Utilities said the change risks interference to electric, water, and gas transmission and distribution systems. Chipmaker Broadcom Inc. called the action “momentous” and “a definitive moment in U.S. wireless history.”Airwaves AuctionMobile providers will get more opportunities in an auction slated to begin in July. Another, potentially larger airwaves sale is to begin Dec. 8 as the FCC offers a wide swath of prime airwaves now used by satellite providers such as Intelsat SA and SES SA. The satellite providers will move aside, keeping enough frequencies to serve current customers; new users will offer mobile broadband.Bidders may include largest U.S. providers Verizon, AT&T Inc. and T-Mobile US Inc., who all snapped up airwaves in earlier FCC auctions.“It isn’t easy to get the government to move quickly on anything,” Meredith Attwell Baker, president of CTIA, a wireless industry trade group with members including AT&T and Verizon, said in an email. Pai “deserves tremendous credit for making sure wireless providers have the spectrum they need to meet our nation’s 5G ambitions.”Not easy, and not without turmoil. The debate with NOAA concerned power levels for an airwaves swath that Verizon won in an FCC auction. The disagreement persisted for much of 2019 before agencies, working with the State Department, arrived at a unified position. The result was a lower power level than the FCC wanted, and more than NOAA preferred.Bipartisan leaders of both the House Science Committee and the Commerce Committee have asked the Government Accountability Office to probe how the NTIA and other federal agencies interact to resolve spectrum disputes.“Under the Trump administration, spectrum coordination efforts have repeatedly failed,” Democratic Representative Frank Pallone, of New Jersey, the Commerce Committee chairman, said in an email.Representative Greg Walden, of Oregon, the Commerce Committee’s top Republican, in an email said that “not everyone will be satisfied all of the time” as spectrum allocations are made.Others see confusion.“In this administration, instead of having everyone pull in the same direction, we have disputes that are pulling us apart,” said Commissioner Jessica Rosenworcel, the agency’s senior Democrat.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Cisco will reportedly pay $1 billion to expand its software portfolio, and Home Depot continues to rally.
Cisco's (CSCO) acquisition of ThousandEyes is expected to aid it boost customer experience with enhanced visibility into application performance, and strengthen software and services portfolio.
Cisco Systems (NASDAQ: CSCO) has inked a deal to acquire ThousandEyes, a privately held cloud software company hailing out of San Francisco, in an effort to expand its software business. Terms of the deal were not disclosed, but Bloomberg reports that Cisco is paying close to $1 billion. In a press release, Cisco said the rapid adoption of cloud networks by businesses and their reliance on the Internet and networks outside of their organizations has created a "chaotic and unmanageable" IT environment for many companies.
When Cisco bought AppDynamics in 2017 for $3.7 billion just before the IPO, the company sent a clear signal it wanted to move beyond its pure network hardware roots into the software monitoring side of the equation. Yesterday afternoon the company announced it intends to buy another monitoring company, this time snagging internet monitoring solution ThousandEyes. Cisco would not comment on the price when asked by TechCrunch, but published reports from CNBC and others pegged the deal at around $1 billion.
(Bloomberg) -- Cisco Systems Inc. said it will buy startup ThousandEyes Inc. to help extend its push into software and services.The world’s biggest maker of networking gear is paying about $1 billion, according to people familiar with the matter.San Francisco-based ThousandEyes sells software that checks whether the end-user of an internet service is getting what’s intended, and traces how that service is delivered to find potential problems. Cisco expects the deal to close before the end of its fiscal first quarter, it said in a release.Under Chief Executive Officer Charles Robbins, Cisco has made acquisitions to boost its software and services capabilities. He’s trying to lessen dependence on one-time sales of expensive hardware and shift to recurring revenue and the more dependable profits of long-term contracts.“By bringing together Cisco’s strength in network and application performance with ThousandEyes’ visibility into the internet, customers will now have an end-to-end view into the digital delivery of applications and services over the internet,” Cisco said in the statement.ThousandEyes will complement the business Cisco has developed around AppDynamics, which the networking giant acquired in 2017. Cisco regularly touts the successful integration and growth of AppDynamics, which provides monitoring and analysis of application performance.ThousandEyes is backed by several venture capital firms, including Sequoia Capital, Sutter Hill Ventures and Salesforce Ventures. The startup has raised about $110 million in financing and its last known valuation was $670 million last year, according to PitchBook.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Cisco Systems Inc. is in advanced talks to buy software company ThousandEyes Inc. for nearly $1 billion, according to people familiar with the matter.Cisco could announce a deal for the San Francisco-based company as soon as Thursday, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and talks could fall through, the people said.A representative for Cisco declined to comment. A representative for ThousandEyes didn’t immediately respond to a request for comment.Under Chief Executive Officer Charles Robbins, Cisco has made acquisitions to boost its software and services capabilities. He’s trying to lessen its dependence on one-time sales of expensive hardware and shift toward the recurring revenue and higher profitability of long-term contracts.ThousandEyes could complement the business it’s developed around AppDynamics, which Cisco acquired in 2017. The company regularly touts the successful integration and growth of that former startup, which provides monitoring and analysis of software applications’ performance.ThousandEyes provides so-called digital experience monitoring software, which helps companies optimize the performance of their connected devices, according to its website. The company is backed by several venture capital firms, including Sequoia Capital, Sutter Hill Ventures and Salesforce Ventures.It has raised $110 million in financing to date and its last known valuation was $670 million last year, according to PitchBook.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Zoom Video's (ZM) first-quarter fiscal 2021 results are expected to reflect solid user growth, driven by coronavirus-led remote working and Internet education wave.
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AppDynamics, a Cisco company and the world’s largest and fastest growing APM vendor, today released a special edition of its global research study, The Agents of Transformation Report with new findings related to the COVID-19 pandemic. The report reveals the pressures technologists are experiencing as they lead their organizations’ responses to the pandemic and how their priorities are changing as the rate of digital transformation accelerates.
Like many investors, you're likely aiming to build a comfortable nest egg to ensure a comfortable retirement. Make sure you know all about what financial planners dub the accumulation and distribution phases of retirement planning.
While that should theoretically benefit switch-makers Cisco and Arista Networks, companies large and small are pulling back or hitting pause on their IT investments whenever possible. Throw in some supply disruption, and both Cisco and Arista saw declining sales and profits in the first quarter. In the enterprise switching world, Cisco has long been the dominant player, emerging in the 1990s.
Cisco Systems (NASDAQ: CSCO) and International Business Machines (NYSE: IBM) have one big thing in common. Twenty years ago, Cisco briefly had the largest market cap of any company in the world. This happened as Cisco products built the infrastructure of a then-burgeoning internet.
Cisco said that its popular WebEx video service has exploded since social distancing orders were put in place.
Cisco beat on both earnings and revenues and provided a solid guidance, stating that demand for tech gear and security support due to prolonged work from home during the coronavirus pandemic will help to drive near-term sales.
"Secondary collateral damage" is how Cisco Systems (NASDAQ: CSCO) CEO Chuck Robbins described the impact of the novel coronavirus pandemic on the networking hardware provider. With many of Cisco's customers facing the most uncertain economic environment in recent memory, the company is experiencing a pause in orders. In the fiscal third quarter, Cisco's total revenue slumped 8%, and revenue from the core infrastructure platforms segment tumbled 15%.