Word: cisco
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Dates: during 2000-2009
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...every Dell and Cisco, these days, there is a Sun and an AMD, issuing glum earnings outlooks and quietly smothering the newborn tech optimism in its cradle. And the NASDAQ that had posted decent gains Thursday on the it's-gonna-be-OK news from America's bellwether PC producer and router-maker quickly crumbled, shedding its gains dolefully into Friday afternoon. Taken together with job cuts soaring to ten-year highs last month (and that's just the barest taste of the post-disaster economy - the hold at 4.9 percent unemployment for September is the ultimate in lagging indicators...
...Wall Street has is Dell and Sun, Cisco and AMD, this gloomy earnings report and that (relatively) sunny one. And US Airways CEO Stephen Wolf now saying his airline may not even need (or want) the loan guarantees - which is just plain hard to believe. The indexes are surfing on forecasts, outlooks, estimates and economic reports that have only just begun to describe the post-Sept. 11 world...
...While Americans are huddling at home, wondering if they should buy a new car and Cisco stock for the war effort or gas masks and bonds for the home front, dependent-less me would be off in foreign lands, paying down high-interest-rate consumer debt. Like many Americans I've been too good a credit-card patriot for too long, and a profitable, adventurous, honorable-type break would position me well for the upturn that should hit in oh, about six months (or more...
Even on Wall Street, there's a patriotic sense that a deep plunge would be a victory for the attackers. Within reason, traders will try to avoid that. Helping them will be new rules that make it easier for companies to buy back their own stock. Networking giant Cisco announced that it would buy back as much as $3 billion of its stock during the next two years...
...CISCO "The reduction in workforce will include...involuntary attrition and the consolidation of some positions." Translation: 3,000 to 5,000 jobs lost...