Cisco and 2 Tech Titans Leading the DJIA Rally
The Dow Jones Industrial Average (NYSEARCA:DIA) climbs today by 0.68% and stands at 11,601. The following large stocks are among today’s positive performers.
Cisco Systems, Inc. (NASDAQ:CSCO): Cisco jumps after Deutsche Bank endorses the networking equipment giant, citing evidence of a “robust” demand for data center IT rollouts in areas such as 10-gigabit ethernet switches, application virtualization and security. IT’s growth in “architecture” of networks may be helping Cisco catch up to competitors like Juniper (NYSE:JNPR). CSCO shares recently traded at $18.68, up $1, or 5.66%. Its market capitalization is $100.42 billion. They have traded in a 52-week range of $13.30 to $22.34. Volume today was 35,645,531 shares versus a 3-month average volume of 58,740,900 shares. The company’s trailing P/E is 16.13, while trailing earnings are $1.16 per share.
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Microsoft Corporation (NASDAQ:MSFT): Yahoo (NASDAQ:YHOO) is down following Bloomberg’s report that Silver Lake and Microsoft bid a paltry 10%-15% stake in convertible preferred securities for a $16.60/share. P-E firm TPG capital has offered $17.50/share for a minority stake and others are showing interest, but there is little hope for bids higher than $20/share, says Kara Swisher. MSFT shares recently traded at $25.50, up $0.66, or 2.66%. Its market capitalization is $214.55 billion. They have traded in a 52-week range of $23.65 to $29.46. Volume today was 32,280,694 shares versus a 3-month average volume of 55,930,700 shares. The company’s trailing P/E is 9.27, while trailing earnings are $2.75 per share.
AT&T, Inc. (NYSE:T): AT&T and China Telecom (NYSE:CHA) will broaden their relationship to allow the American company to expand its services for business customers in China, while China Telecom will enhance its services to Asian customers in the U.S. using AT&T’s network. T shares recently traded at $28.82, up $0.76, or 2.71%. Its market capitalization is $170.79 billion. They have traded in a 52-week range of $27.20 to $31.94. Volume today was 12,901,595 shares versus a 3-month average volume of 30,416,000 shares. The company’s trailing P/E is 14.62, while trailing earnings are $1.97 per share.