Cisco shares rise 4 percent after Chambers comments

Cisco Systems Inc (CSCO.O) investors like what they are hearing from John Chambers.

Shares of Cisco were up more than 4 percent in early afternoon on Wednesday in response to the chief executive's surprising internal memo in which he says the networking giant has been slow to make decisions, fallen down on execution and lacked discipline in an aggressive expansion.

The memo, circulated on Tuesday, was widely viewed as the first step toward turning things around at the one-time technology bellwether, whose shares have lost a third of their value over the past 52 weeks.

"Denial, being upset and then acceptance are the necessary sequence of emotions people experience before moving on toward a recovery," said RBC Capital Markets analyst Mark Sue.

Read Full Article from Reuters

- Posted: 2011-04-06 12:27:06

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