Cisco Systems Inc. forecast sales this quarter that missed analysts’ most optimistic projections, citing growth challenges in China and Europe and the prospect of lackluster government demand for networking equipment.
Brocade Communications Systems Inc., which has been trying to sell itself for more than two years, is a step closer to unlocking a 32 percent gain for shareholders now that its chief executive officer is on his way out.
Cisco Systems Inc., the biggest maker of computer-networking equipment, plans to eliminate about 1,300 jobs, or 2 percent of the workforce, as Europe’s debt crisis and sluggish corporate spending threaten sales.
Juniper Networks Inc. , the second- largest U.S. maker of networking equipment, reported revenue that missed analysts’ estimates as companies curbed spending on hardware to link computers. The shares slid in late trading.
Yahoo! Inc. hired Ken Goldman, a technology-industry veteran with three decades of experience in software and Internet companies, to succeed Tim Morse as chief financial officer, the biggest management switch yet by Chief Executive Officer Marissa Mayer.