49.31 +0.12 (0.24%)
Pre-market: 4:14AM EDT
|Bid||49.06 x 4000|
|Ask||0.00 x 800|
|Day's range||49.04 - 49.92|
|52-week range||40.25 - 58.26|
|Beta (3Y monthly)||1.10|
|PE ratio (TTM)||18.85|
|Earnings date||13 Nov 2019|
|Forward dividend & yield||1.40 (2.85%)|
|1y target est||55.58|
Sep.11 -- John Chambers, founder of JC2 Ventures LLC and former chief executive officer of Cisco Systems Inc., discusses Oracle Corp. CEO Mark Hurd taking a leave of absence, global trade tensions, the health of the IPO market and alternative food sources with Bloomberg's Taylor Riggs on "BloombergTechnology."
(Bloomberg) -- Cisco Systems Inc. approached software company Datadog Inc. in recent weeks with a takeover offer significantly higher than the $7 billion valuation it aimed for in its initial public offering, according to people familiar with the matter.Datadog rebuffed the advance to pursue a stock listing because it felt it could be worth more as a public company over time, according the people, who requested anonymity because the talks were private. Talks between Cisco and Datadog are no longer active and Datadog is committed to going public, they said.A representative for Cisco declined to comment. Datadog couldn’t immediately be reached for comment.Cisco rose less than 1% to $49.72 at 10:12 a.m. in New York trading, for a market value of about $211 billion. Several rivals to Datadog also gained, including New Relic Inc., up 5.8%, Splunk Inc., which rose 3.9% and Elastic NV, which rose 3.1%.Datadog raised $648 million in its U.S. IPO Wednesday, selling 24 million shares for $27 each after marketing them at $24 to $26. The listing values Datadog at $7.83 billion.Software companies that power business processes have delivered some of this year’s best IPO debuts thanks to high margins and solid revenue. Zoom Video Communications Inc. and Crowdstrike Holdings Inc. have doubled in value since they began trading and are among the ten best performing offerings this year, according to data compiled by Bloomberg.In 2017, Cisco succeeded in buying a company on the eve of its IPO. It acquired AppDynamics Inc. for $3.7 billion right before the data analytics company was set to price its listing.(Updates share prices in fourth paragraph, details about IPO in fifth.)\--With assistance from Crystal Tse.To contact the reporters on this story: Liana Baker in New York at firstname.lastname@example.org;Gillian Tan in New York at email@example.com;Ian King in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Alan Goldstein at email@example.com, Liana Baker, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Speaking to the Financial Times, the telecoms equipment company boss said that the technology of the future would be built by American, European and Chinese providers — rejecting the idea of a “decoupling” or separation between the western and Chinese digital economies.
The buyout of Witekio is likely to add more capabilities in embedded software, edge computing and security to Avnet's (AVT) IoT business.
(Bloomberg) -- Oracle Corp. unveiled an operating system that runs without the need for human oversight, part of a raft of new software tools meant to ease the company’s rocky transition to cloud computing.The operating system expands Oracle’s line of autonomous products beyond databases, the company’s flagship software. Chairman Larry Ellison announced the new Linux-based product Monday during remarks at OpenWorld, Oracle’s annual user conference in San Francisco.“If you eliminate human error in autonomous systems, you eliminate data theft,” Ellison said on stage. The feature makes Oracle’s products more secure than those sold by cloud leader Amazon Web Services, he said.Ellison said the operating system, which the company’s Autonomous Database runs on, will update itself without any downtime.The world’s second-largest software maker has sought to revive sales growth after years of almost stagnant revenue. Oracle hopes that a lineup of “self-driving” programs could help differentiate the company’s offerings against products from Amazon.com Inc. and Microsoft Corp. Those companies are the top two in the market to rent storage and computing power, which is projected to reach almost $39 billion in 2019. The tools may also entice longtime Oracle customers to upgrade their technology to take advantage of artificial intelligence and machine learning capabilities.Oracle disclosed last week that Mark Hurd, one of the company’s two chief executive officers, would take a leave of absence to treat an unspecified illness. Ellison and Oracle’s other CEO, Safra Catz, said they would fill in for Hurd, who has overseen the company’s sales and marketing efforts.The Redwood City, California-based company also announced a variety of changes and new programs to bolster its partner ecosystem:Oracle unveiled an agreement with VMware Inc. to bring virtualization software to Oracle’s cloud, similar to deals VMware has signed with Microsoft and Google.Customers will be able to buy software made by other companies in the Oracle Cloud Marketplace, which may help company partners including Cisco Systems Inc. and Palo Alto Networks Inc.Oracle also said it expanded a relationship with cybersecurity company McAfee Inc. to bring its security incident software to Oracle’s infrastructure cloud.Ellison said Oracle would offer a free version of its Cloud Infrastructure, giving developers, students and others perpetual access to the company’s autonomous database, computing and storage.The company plans to launch 20 additional cloud data-center hubs, called “regions,” by the end of 2020. Ellison said the company would have more regions around the world than AWS.Oracle will let customers run the autonomous database in their own data centers next year, and unveiled new servers with updated memory components from Intel Corp.To contact the reporter on this story: Nico Grant in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Avnet (AVT) partners with Trusted Objects to ensure faster time to market, cost reduction and better security for developers seeking to secure IoT deployments in cloud, middleware and on-device.
The acquisition is expected to boost Palo Alto's (PANW) Cortex platform by implementing Zingbox's cloud-based service and advanced AI and ML technology into its security offerings.
Tech titan John Chambers weighs in on Uber and Lyft, both of which have seen their stock prices under severe pressure since initial public offerings this year.
Apple is opening up to the idea of third-party repairs, the trade war headwind looms larger, its product launch event is scheduled for Sep 10 and it apologizes for privacy missteps.
Palo Alto's (PANW) fourth-quarter fiscal 2019 results are likely to be driven by its strong product portfolio, which is aiding customer acquisitions.
Marvell stock lost more than 6.8% in after-hours trading on Thursday. The company posted upbeat results for the second quarter of fiscal 2020.
Cisco's (CSCO) strategic acquisitions should support the company in expanding product offerings, strengthening footprint in the security markets and building customer base.
With the extension of partnership, Fortinet (FTNT) will provide consistent security and monitoring for East-West traffic in addition to the already existing North-South traffic.