Cisco restructuring reassures investors

Summary: Networking company turns a corner...

By Will Sturgeon | August 24, 2001 -- 07:12 GMT (00:12 PDT)

Networking company turns a corner...

Cisco has seen its share price rise three per cent after the markets reacted kindly to an announced restructuring of its business. Shares rose 3.4 per cent in after hours trading to $17.33 and John Chambers, CEO of Cisco, encouraged investors further with news that he expects his company to find greater stability after suffering with the rest of technology sector in the current downturn. He added that orders for the coming quarter suggest the company will keep pace with analysts' expectations. We will bring you full details of Cisco's restructuring plans later in the day... For related news, see:
Cisco thieves banged up
http://www.silicon.com/a46718
Cisco gets battered around the ring
http://www.silicon.com/a46379

Topic: Networking

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