Press ESC to close

Splunk Jumps on Report That Cisco Made $20 Billion-Plus Offer

  • S&P 500

  • Dow xxx

  • Nasdaq

  • Russell 2000

  • Crude Oil

  • Aureate

  • Argent


  • ten-Yr Bond




  • CMC Crypto 200

  • FTSE 100

  • Nikkei 225

Splunk Jumps on Report That Cisco Made $20 Billion-Plus Offering

(Bloomberg) — Splunk Inc. jumped as much as 16% in tardily trading on a report that Cisco Systems Inc. made an offering of more than $20 billion for the software visitor.

Near Read from Bloomberg

  • Biden-Putin Call Is Inconclusive as Ukraine Tensions Jump

  • U.One thousand. Infirmary Patient Dies From Confirmed Case of Lassa Fever

  • Biden Warns Putin of Risk of Heavy Price: Ukraine Update

  • U.Southward. Orders Kyiv Embassy Staff Out After Alarm on Russia

  • IBM Emails Show Millennial Workers Favored Over ‘Dinobabies’

The shares climbed as loftier as $133.25 post-obit the Wall Street Journal story, which cited unidentified people familiar with the state of affairs. The stock had airtight at $114.51 on Friday, down about 1% this year.

Cisco, which is set to report its latest results next calendar week, has been expanding its software and services — an attempt to rely less on its hallmark networking hardware. The company gave a lackluster forecast for revenue in Nov, injure by a shortage of components.

Cisco declined to comment, while Splunk didn’t immediately answer to a request for annotate.

Cisco has traditionally generated the bulk of its revenue from equipment that forms the backbone of computer networks, but that’due south been changing. Revenue from subscriptions and software volition reach 50% of Cisco’south total by fiscal 2025, the company predicted in September.

Cisco slipped in late trading, falling less than ane%. Information technology was down 15% this twelvemonth through the close.

Most Read from Bloomberg Businessweek

  • The Billion-Dollar Nickel-Bandy Scandal That Shocked Singapore

  • The Loan Shark Trump Freed From Prison Is Lending Money Again

  • There Are At present 1,000 Unicorn Startups Worth $ane Billion or More

  • Why Airbus Is Canceling Orders From Qatar Airways, One of Its All-time Customers

  • The Brothers Behind a Nuptials Tent Empire Know When to Say Yes

©2022 Bloomberg L.P.


Popular:   Liverpool F.C. - Harvey Elliott - Premier League