On Monday, Shares of Cisco Systems, Inc. (NASDAQ:CSCO), lost -0.71% to $28.83, after Morgan Stanley’s James Faucette cut his rating on the shares to Equal Weight from Overweight, while maintaining his price target of $30, writing that the company has seen a pick-up in growth from “a product refresh,” but that “we don’t believe improved growth is secular.”
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking products and services related to the communications and information technology industry worldwide.
Shares of American Airlines Group Inc. (NASDAQ:AAL), inclined 2.50% to $43.95, during its last trading session.
American Airlines Group stated July 2015 and year-to-date traffic results.
American Airlines Group’s total revenue passenger miles (RPMs) for the month were a record 21.8 billion, up 4.8 percent as compared to July 2014. Total capacity was a record 24.9 billion accessible seat miles (ASMs), up 2.2 percent as compared to July 2014. Total passenger load factor was 87.3 percent, up 2.2 percentage points as compared to July 2014.
The Company continues to expect its third quarter 2015 merged passenger revenue per accessible seat mile (PRASM) to be down about six to eight percent year-over-year. In addition, the Company continues to expect its third quarter pretax margin not taking into account special items to be between 16 and 18 percent.
American Airlines Group Inc., through its auxiliaries, operates in the airline industry. As of December 31, 2014, the company operated 983 mainline jets, in addition to 566 regional aircrafts through regional airline auxiliaries and third-party regional carriers. It serves 339 destinations in 54 countries.
Finally, Symantec Corporation (NASDAQ:SYMC), ended its last trade with 1.20% gain, and closed at $21.86.
Symantec Corporation declared that it has reached a definitive agreement to sell its information administration business, known as Veritas, to an investor group led by The Carlyle Group together with GIC, Singapore’s sovereign wealth fund, and other predictable co-investors for $8 billion in cash. The transaction, which was unanimously approved by Symantec’s Board of Directors, is predictable to close by January 1, 2016.
Upon closing of the transaction, Symantec anticipates to receive about $6.3 billion in net cash proceeds, subject to certain customary post-closing adjustments. Symantec will take a comprehensive and disciplined approach to capital deployment focused on both returning capital to shareholders and investing in the business. The Symantec Board has authorized a $1.5 billion enhance to its existing share repurchase program, bringing the total to $2.6 billion, with $2 billion predictable to be returned to shareholders over the 18 month period following the close of the transaction. The Board has also determined that Symantec will maintain its quarterly cash dividend of $0.15 per common share, which represents an overall enhance to the company’s dividend payout ratio post-separation. Between its dividend and share repurchases, Symantec anticipates to return about 120% of its after-tax domestic cash proceeds from the sale to its shareholders.
Symantec Corporation, together with its auxiliaries, provides security, backup, and availability solutions worldwide. Its products and services protect people and information in various environments from the mobile device and enterprise data center and to cloud-based systems.
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