On Friday, Shares of Cisco Systems, Inc. (NASDAQ:CSCO), lost -0.62% to $29.03.
Cisco Systems has unveiled plans to invest US$10 billion “over the next several years” in China where it will be looking to focus on innovation and research development, according to ZD Net.
Describing it as “a new chapter” for the company, the U.S. networking giant said it had signed a Memorandum of Understanding with China’s National Development and Reform Commission (NDRC) to boost its investment in the local industry. Together with its Chinese partners, Cisco said its US$10 billion investment will go toward driving innovation, equity investment, R&D, and job creation.
The declaration came amid meetings in Beijing by retiring Cisco Chairman and CEO John Chamber and incoming CEO Chuck Robbins with China’s vice prime minister Wang Yang and other government officials. ZD Net 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 QUALCOMM Incorporated (NASDAQ:QCOM), declined -0.71% to $66.88, during its last trading session, as technology stocks retreated Friday with shares of technology companies in the S&P 500 dropping about 0.7%.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services in China, South Korea, Taiwan, and the United States. The company operates through three segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Planned Initiatives (QSI).
Finally, Nabors Industries Ltd. (NYSE:NBR), ended its last trade with -1.40% loss, and closed at $14.06, as World oil prices fell Friday as traders took their direction from the dollar, which rose against the euro on the back of the Greek crisis.
US benchmark West Texas Intermediate for July delivery lost 89 cents to $59.56 a barrel contrast with Thursday’s close.
Nabors Industries Ltd., together with its auxiliaries, provides drilling and rig services. The company offers rig instrumentation, optimization software, and directional drilling services. It also provides completion, life-of-well maintenance, and plugging and abandonment of a well.
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 through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
