Cisco Systems (CSCO-NASDAQ) is trading up on comments made by Charlie Giancarlo, Cisco’s Chief Development Officer, in a Bloomberg interview today (link here to the website) based on comments that the company is at the high-end of its longer-term growth rates (of 10% to 15%) and on notes that customers are still in the early stages of their upgrade cycles. BUT……. Investors should keep in mind that he is not one of the usual suspects that drives market news. This shouldn’t be interpreted as any message to derail the move at all. But it would be good to know "how different" this really is from previous company comments. Shares are now up 3.5% at $26.85 on the day and have now traded more than 60 million shares.
Jon C. Ogg
April 13, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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