Cisco Systems Inc (NASDAQ:CSCO) trades flat, Sirius XM Radio Inc (NASDAQ:SIRI)

Posted by Nathan Alexander May 14, 2013 0 Comment 3227 views


Cisco Systems, Inc (NASDAQ:CSCO): Monday’s trading session saw Cisco Systems, Inc (NASDAQ:CSCO) shares headed 0.81% upward. The opening price of $21.14 touched an intraday high of $21.28 per share before setting down to $21.05. A total of around 35.35 million shares exchanged hands in the Monday trading session, which stood below the average volume of 36.71 million, measured over a period of 30 days.

The company is expected to report its Q3 financial results on 15 May and might report in-line earnings as well. San Jose, California-based Cisco Systems, Inc (NASDAQ:CSCO) is a Dow component. It is one of the leading computer networking equipment manufacturers in the world.  The company has an extensive global reach and as such is viewed as a technology-industry bellwether. It is sensitive towards government and business spending cycles.

Cisco continues its excellent upward trend. However, the federal spending pull-backs could scathe its near-term results. In the quarter, telecom spending in the United States seems to have been pretty strong, but government spending is still on the lower side, especially with sequestration in effect. On an average, Wall Street expects the networking gear-maker to earn 49 cents per share on $12.19 billion revenue. Cisco Systems, Inc (NASDAQ:CSCO) earned 48 cents per share on $11.59 billion revenue in the same quarter in 2012.

Sirius XM Radio Inc (NASDAQ:SIRI): Monday’s trading session saw Sirius XM Radio Inc (NASDAQ:SIRI) shares headed 0.29% upward. The opening price of $3.37 touched an intraday high of $3.43 per share before setting down to $3.37. A total of around 29.28 million shares exchanged hands in the Monday trading session, which stood below the average volume of 40.71 million, measured over a period of 30 days.

The intraday high of $3.43 that Sirius XM Radio Inc (NASDAQ:SIRI) tagged yesterday, is a five-year high. On the horizon is a possible upside. Though Sirius has outperformed the broader S&P 500 Index (SPX) by over 6 percentage points over the last two months, the company continues to be shrouded with skepticism. As a matter of fact, the short interest accounts for 12.4 percent of the total available stock-float. This represents almost two weeks’ worth of bottled-up buying demand, at the average pace of trading for the company.

Sirius XM Radio Inc (NASDAQ:SIRI)  broadcasts its sports, talk, music, entertainment, comedy, news, weather and traffic channels on a subscription fee basis in the United states, via the two satellite radio systems it owns.


About Nathan Alexander

Nathan Alexander holds bachelor’s degrees in Journalism and European Studies from Boston University. Nathan reports round up the day’s business and financial market news and include keynote interviews with major business players and updates on Asian, European and US stock markets. He has interviewed heads of leading European banking institutions such as European Central Bank President Jean-Claude Trichet and HSBC Chairman Stephen Green, and CEOs from the business world including Microsoft founder Bill Gates, Virgin Chairman Sir Richard Branson and former Porsche President and CEO Dr Wendelin Wiedeking.

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