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Cisco shares climbed almost 4 percent in extended trading after MarketWatch reported that Amazon Web Services is not planning to start selling network switches, countering a story last week that said AWS was looking to enter the market. In a statement that Cisco confirmed to CNBC, "Cisco and AWS have a longstanding customer and partner relationship, and during a recent call between Cisco CEO Chuck Robbins and AWS CEO Andy Jassy, Andy confirmed that AWS is not actively building a commercial network switch."MarketWatch said that AWS confirmed the statement without providing further details. Cisco rose as much as 3.6 percent to $43.75 in after-hours trading following the report, while networking rival Juniper was up a little more than 1 percent after hours. On Friday, Cisco and shares of other networking vendors dropped following a report by The Information that AWS is considering selling its own network switching devices.
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Dennis Gartman: An 'exaggerated' and 'stunning' rally could be on the wayMarket PulseInternational Game Technology shares rise on FanDuel dealShares of International Game Technology PLC igt+1.06% rose in Monday's extended session after the gaming and slot machine company said it will provide its sports betting platform to FanDuel Group. FanDuel will initially deploy the platform at Meadowlands Racetrack in East Rutherford, N.J. and gradually offer other types of betting options including self-service kiosks as well as online and mobile wagering. IGT shares rose 3.3% after hours. See original version of this story
Cisco shares climbed almost 4 percent in extended trading after MarketWatch reported that Amazon Web Services is not planning to start selling network switches, countering a story last week that said AWS was looking to enter the market. In a statement that Cisco confirmed to CNBC, "Cisco and AWS have a longstanding customer and partner relationship, and during a recent call between Cisco CEO Chuck Robbins and AWS CEO Andy Jassy, Andy confirmed that AWS is not actively building a commercial network switch."MarketWatch said that AWS confirmed the statement without providing further details. Cisco rose as much as 3.6 percent to $43.75 in after-hours trading following the report, while networking rival Juniper was up a little more than 1 percent after hours. On Friday, Cisco and shares of other networking vendors dropped following a report by The Information that AWS is considering selling its own network switching devices.
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AMD shares rise after Stifel predicts higher profitability for chipmaker
AMD's new chips will boost the company's profit margin in its third quarter, according to Stifel. The firm raised its price target for AMD's stock to $21 from $17 and reiterated its buy rating for the company's shares. The new price target is 29 percent higher than Friday's closing price. "Given the many positive PC industry data points for 2Q18, we believe shipments for AMD's Zen-based PC CPU line up tracked in-line to slightly better than management's guidance," analyst Kevin Cassidy said in a note to clients Sunday. "We continue recommending the AMD shares as a higher percentage of its revenue transitions to the newer, higher margin Zen-based CPUs."AMD shares rose 1.9 percent Monday after the report.as mentioned in
Dennis Gartman: An 'exaggerated' and 'stunning' rally could be on the wayMarket PulseInternational Game Technology shares rise on FanDuel dealShares of International Game Technology PLC igt+1.06% rose in Monday's extended session after the gaming and slot machine company said it will provide its sports betting platform to FanDuel Group. FanDuel will initially deploy the platform at Meadowlands Racetrack in East Rutherford, N.J. and gradually offer other types of betting options including self-service kiosks as well as online and mobile wagering. IGT shares rose 3.3% after hours. See original version of this story