Cisco Systems Inc is expected next week to say it can return to double-digit sales growth due to a stronger economy and expansion in high-growth businesses, including the acquisition of videoconference leader Tandberg .
Technology stocks put in a strong performance, with almost every sector leader closing with gains as the overall sector advanced due to a broad rally spurred on by a drop in the U.S. unemployment rate.
Cisco Hits Tandberg Target Cisco Systems said it controls enough shares of Tandberg to give it complete ownership of the Norwegian videoconferencing maker, thanks to a recount.
Technology stocks pull back a bit from their early highs, as the overall sector remains upbeat due to a braod rally spurred on by a drop in the U.S. unemployment rate.
The latest overall job loss numbers showed a loss of 11,000 jobs in November and the unemployment rate fell to 10.0%. The September and October numbers were revised as well. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.
Cisco Systems Inc. said Friday it now has enough shares and shareholder commitments to take over Norway's Tandberg ASA, the world's largest videoconferencing equipment maker.
Cisco Systems says it is waiving its condition that 90 percent of shareholders of the Norwegian firm Tandberg back its takeover offer, and will close the deal as soon as possible.
U.S. stock futures rallied on Friday after the Labor Department said nonfarm payrolls in November shrank by a far-less-than-forecast 11,000 with an unemployment rate of 10%.
Looks like Cisco’s proposed acquisition of Tandberg will move ahead as planned â€" though perhaps not as smoothly as the networking giant had hoped. In a filing with the Oslo stock exchange today, Tandberg said 91.1 percent of its shares and voting rights have been tendered to Cisco â€" enough to proceed with [...]
U.S. stock index futures were slightly higher on Friday ahead of the key monthly jobs report for November. The U.S. government's closely watched monthly report on non-farm payrolls is expected at 8:30 a.m.
Cisco Systems , the world's largest maker of networking equipment, was close to clinching its $3.38bn offer to buy Tandberg on Friday, after winning about 89 per cent of the shares in the Norwegian video conferencing equipment company.
Cisco said Friday that the U.S. Department of Justice has made a second request for information on its proposed acquisition of video conferencing firm Tandberg . Cisco continues to expect the transaction will close during the first half of calendar year 2010.
No comments:
Post a Comment