On Thursday, Shares of Cisco Systems, Inc. (NASDAQ:CSCO), gained 1.74% to $28.01, after announcing the sale of its set-top box business to Technicolor for $600 million, a substantial mark-down for what it paid nine years earlier.
Technicolor, said the cash-and-stock transaction would boost its position in home-video and communications products. Cisco said the unit being sold generated about $1.8 billion in revenue in the fiscal year ended in June selling communications devices called gateways in addition to set-top boxes, according to Market Watch.
Cisco entered the market through its $6.9 billion acquisition in 2006 of Scientific-Atlanta Inc., a deal that comprised of products used in homes in addition to equipment for cable providers’ central offices. The company said it planned to continue selling products to carriers and would collaborate with Technicolor to develop video and broadband technologies. Market Watch Reports.
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking products and services related to the communications and information technology industry worldwide. It provides switching products, counting fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and NGN routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
Shares of JD.com, Inc. (NASDAQ:JD), declined -1.92% to $34.70, during its last trading session.
Nasdaq (NDAQ) declared that JD.com, Inc. (JD) will become a component of the NASDAQ-100 Index® (Nasdaq:NDX) and the NASDAQ-100 Equal Weighted Index (Nasdaq:NDXE) preceding to market open on Wednesday, July 29, 2015. JD.com, Inc. will replace Catamaran Corporation (CTRX), which will be removed from these indexes effective Friday, July 24, 2015.
JD.com, Inc., through its auxiliaries, operates as an online direct sales company in the People’s Republic of China. It primarily offers electronics and home appliances products; and general merchandise products, counting audio and video products, and books.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
